JPMorgan Chase & Co. decreased its stake in shares of Insmed Inc. (NASDAQ:INSM) by 5.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,974,261 shares of the biopharmaceutical company’s stock after selling 110,246 shares during the period. JPMorgan Chase & Co. owned about 3.19% of Insmed worth $19,467,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of INSM. Ameriprise Financial Inc. boosted its position in Insmed by 32.3% in the second quarter. Ameriprise Financial Inc. now owns 303,803 shares of the biopharmaceutical company’s stock valued at $2,998,000 after buying an additional 74,224 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Insmed during the second quarter valued at about $327,000. RidgeWorth Capital Management LLC boosted its position in Insmed by 52.2% in the second quarter. RidgeWorth Capital Management LLC now owns 29,843 shares of the biopharmaceutical company’s stock valued at $301,000 after buying an additional 10,241 shares during the period. TD Asset Management Inc. boosted its position in Insmed by 4.1% in the second quarter. TD Asset Management Inc. now owns 238,400 shares of the biopharmaceutical company’s stock valued at $2,351,000 after buying an additional 9,300 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in Insmed by 1.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 29,335 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 278 shares during the period. 90.57% of the stock is currently owned by hedge funds and other institutional investors.
Insmed Inc. (NASDAQ:INSM) traded up 2.4701% during midday trading on Tuesday, hitting $14.9299. The stock had a trading volume of 96,686 shares. The company’s 50 day moving average price is $13.30 and its 200-day moving average price is $12.01. The stock’s market cap is $923.82 million. Insmed Inc. has a 52-week low of $9.02 and a 52-week high of $21.14.
Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by $0.03. Analysts forecast that Insmed Inc. will post ($2.25) EPS for the current fiscal year.
Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Insmed from a “sell” rating to a “hold” rating in a research note on Wednesday, September 21st. Piper Jaffray Cos. set a $24.00 price target on Insmed and gave the stock a “buy” rating in a research note on Sunday, August 21st. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a research note on Wednesday, June 15th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $23.57.
Insmed Company Profile
Insmed Incorporated is a biopharmaceutical company. The Company operates in the segment of development and commercialization of inhaled therapies for patients with serious lung diseases. The Company’s lead product candidate, ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for patients with nontuberculous mycobacteria (NTM) lung disease, a rare and often chronic infection that is capable of causing irreversible lung damage and can be fatal.
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