Insmed Incorporated (INSM) Position Boosted by Crestline Management LP
Crestline Management LP increased its holdings in Insmed Incorporated (NASDAQ:INSM) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,856 shares of the biopharmaceutical company’s stock after buying an additional 3,437 shares during the quarter. Crestline Management LP’s holdings in Insmed were worth $2,147,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Insmed by 137.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,662 shares of the biopharmaceutical company’s stock worth $145,000 after buying an additional 2,698 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in Insmed in the fourth quarter worth approximately $188,000. Prudential Financial Inc. acquired a new stake in Insmed in the third quarter worth approximately $232,000. Jefferies Group LLC acquired a new stake in Insmed in the fourth quarter worth approximately $245,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Insmed in the third quarter worth approximately $256,000. 99.10% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the company. Robert W. Baird restated a “positive” rating and issued a $42.00 target price (up from $32.00) on shares of Insmed in a research report on Thursday, January 4th. HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of Insmed in a research report on Thursday, January 4th. Zacks Investment Research downgraded Insmed from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. BidaskClub upgraded Insmed from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Finally, Credit Suisse Group assumed coverage on Insmed in a research report on Wednesday, January 17th. They issued a “neutral” rating and a $31.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Insmed currently has a consensus rating of “Hold” and a consensus target price of $36.67.
Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Friday, February 23rd. The biopharmaceutical company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.18). research analysts expect that Insmed Incorporated will post -3.65 earnings per share for the current fiscal year.
Insmed Incorporated is a biopharmaceutical company. The Company operates through development and commercialization of therapies for patients with rare diseases segment. Its lead product candidate is ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for adult patients with treatment refractory nontuberculous mycobacteria (NTM) lung disease caused by Mycobacterium avium complex (MAC).
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