Thrivent Financial for Lutherans Has $646,000 Stock Position in Insmed, Inc. $INSM

Thrivent Financial for Lutherans reduced its stake in Insmed, Inc. (NASDAQ:INSM) by 47.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,487 shares of the biopharmaceutical company’s stock after selling 4,070 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Insmed were worth $646,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Yousif Capital Management LLC acquired a new position in shares of Insmed in the second quarter valued at approximately $201,000. Allianz Asset Management GmbH lifted its holdings in Insmed by 6.8% during the 2nd quarter. Allianz Asset Management GmbH now owns 80,422 shares of the biopharmaceutical company’s stock worth $8,094,000 after purchasing an additional 5,138 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in Insmed in the 2nd quarter valued at $223,000. Mutual of America Capital Management LLC grew its holdings in Insmed by 9.3% in the 2nd quarter. Mutual of America Capital Management LLC now owns 86,492 shares of the biopharmaceutical company’s stock valued at $8,705,000 after buying an additional 7,351 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Insmed during the 2nd quarter worth $1,828,000.

Insider Activity

In other Insmed news, insider Michael Alexander Smith sold 640 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $156.27, for a total transaction of $100,012.80. Following the completion of the transaction, the insider directly owned 56,397 shares in the company, valued at $8,813,159.19. The trade was a 1.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Adsett sold 791 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $156.17, for a total value of $123,530.47. Following the sale, the chief operating officer owned 106,810 shares of the company’s stock, valued at $16,680,517.70. The trade was a 0.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 173,253 shares of company stock worth $29,629,842. Insiders own 3.00% of the company’s stock.

Insmed Trading Up 1.8%

Shares of Insmed stock opened at $148.75 on Tuesday. The company has a quick ratio of 4.34, a current ratio of 4.63 and a debt-to-equity ratio of 0.59. Insmed, Inc. has a 12-month low of $60.40 and a 12-month high of $212.75. The company has a market capitalization of $31.72 billion, a price-to-earnings ratio of -24.03 and a beta of 1.11. The firm’s 50-day moving average price is $168.10 and its two-hundred day moving average price is $162.59.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on INSM shares. Morgan Stanley boosted their target price on shares of Insmed from $157.00 to $162.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. Cantor Fitzgerald lifted their price objective on shares of Insmed from $216.00 to $230.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. HC Wainwright cut their price objective on shares of Insmed from $240.00 to $230.00 and set a “buy” rating for the company in a report on Thursday, December 18th. Wolfe Research set a $167.00 target price on shares of Insmed and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Finally, Jefferies Financial Group set a $269.00 target price on shares of Insmed in a report on Wednesday, December 10th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Insmed presently has a consensus rating of “Buy” and an average target price of $204.24.

Insmed Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.