Wellington Shields Capital Management LLC Invests $1.22 Million in Insmed, Inc. $INSM

Wellington Shields Capital Management LLC acquired a new stake in Insmed, Inc. (NASDAQ:INSM) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,472 shares of the biopharmaceutical company’s stock, valued at approximately $1,220,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wellington Shields & Co. LLC acquired a new stake in Insmed in the third quarter worth $569,000. Bessemer Group Inc. grew its stake in shares of Insmed by 137.5% in the 3rd quarter. Bessemer Group Inc. now owns 836 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 484 shares during the period. SBI Securities Co. Ltd. increased its position in Insmed by 404.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 166 shares in the last quarter. Savant Capital LLC increased its position in Insmed by 36.7% in the 3rd quarter. Savant Capital LLC now owns 2,783 shares of the biopharmaceutical company’s stock valued at $401,000 after buying an additional 747 shares in the last quarter. Finally, Bridges Investment Management Inc. bought a new position in Insmed in the third quarter worth approximately $221,000.

Analysts Set New Price Targets

INSM has been the subject of several recent research reports. Barclays started coverage on Insmed in a report on Tuesday, January 27th. They set an “overweight” rating and a $231.00 price objective for the company. HC Wainwright decreased their price target on shares of Insmed from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. UBS Group dropped their price objective on shares of Insmed from $223.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Wells Fargo & Company set a $195.00 target price on shares of Insmed in a research report on Thursday, December 18th. Finally, Cantor Fitzgerald upped their target price on shares of Insmed from $216.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $203.45.

Insmed Stock Performance

NASDAQ INSM opened at $149.86 on Friday. The company has a fifty day moving average price of $174.90 and a 200-day moving average price of $159.93. The firm has a market cap of $31.96 billion, a price-to-earnings ratio of -24.21 and a beta of 1.11. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.63 and a quick ratio of 4.34. Insmed, Inc. has a 1 year low of $60.40 and a 1 year high of $212.75.

Insiders Place Their Bets

In other news, insider Michael Alexander Smith sold 640 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $156.27, for a total transaction of $100,012.80. Following the completion of the sale, the insider directly owned 56,397 shares of the company’s stock, valued at $8,813,159.19. This trade represents a 1.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sara Bonstein sold 748 shares of Insmed stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $156.34, for a total value of $116,942.32. Following the sale, the chief financial officer owned 79,758 shares in the company, valued at $12,469,365.72. The trade was a 0.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 274,857 shares of company stock valued at $50,121,247. Insiders own 3.00% of the company’s stock.

Insmed Company 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.