Wells Fargo & Company MN Has $1.25 Million Stake in Insmed Incorporated (INSM)

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Wells Fargo & Company MN lifted its stake in Insmed Incorporated (NASDAQ:INSM) by 42.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,611 shares of the biopharmaceutical company’s stock after acquiring an additional 18,388 shares during the period. Wells Fargo & Company MN owned approximately 0.08% of Insmed worth $1,245,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of INSM. MetLife Investment Advisors LLC raised its position in shares of Insmed by 12.4% in the second quarter. MetLife Investment Advisors LLC now owns 37,652 shares of the biopharmaceutical company’s stock worth $890,000 after buying an additional 4,160 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Insmed in the second quarter worth $200,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Insmed in the second quarter worth $200,000. Schwab Charles Investment Management Inc. raised its position in shares of Insmed by 4.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 400,130 shares of the biopharmaceutical company’s stock worth $9,464,000 after buying an additional 18,686 shares in the last quarter. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of Insmed in the third quarter worth $452,000.

INSM opened at $22.70 on Friday. The stock has a market capitalization of $1.59 billion, a PE ratio of -7.85 and a beta of 1.93. The company has a current ratio of 10.06, a quick ratio of 10.06 and a debt-to-equity ratio of 1.07. Insmed Incorporated has a 12 month low of $11.31 and a 12 month high of $32.07.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.06) by ($0.08). On average, analysts predict that Insmed Incorporated will post -4.16 earnings per share for the current year.

A number of equities research analysts recently issued reports on INSM shares. Canaccord Genuity started coverage on Insmed in a research report on Wednesday, January 2nd. They issued a “buy” rating and a $20.00 price objective on the stock. ValuEngine downgraded Insmed from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 18th. BidaskClub upgraded Insmed from a “hold” rating to a “buy” rating in a research report on Wednesday, November 21st. Credit Suisse Group raised their price target on Insmed from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, October 1st. Finally, Goldman Sachs Group set a $25.00 price target on Insmed and gave the company a “hold” rating in a research report on Wednesday, September 19th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $30.43.

In other Insmed news, insider Roger Adsett bought 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The shares were bought at an average cost of $15.97 per share, with a total value of $47,910.00. Following the completion of the purchase, the insider now directly owns 18,594 shares of the company’s stock, valued at $296,946.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Lewis bought 15,700 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The stock was acquired at an average cost of $15.90 per share, for a total transaction of $249,630.00. Following the completion of the purchase, the chief executive officer now directly owns 151,247 shares of the company’s stock, valued at $2,404,827.30. The disclosure for this purchase can be found here. In the last quarter, insiders bought 54,785 shares of company stock worth $871,726. Company insiders own 3.88% of the company’s stock.

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Insmed Company Profile

Insmed Incorporated, a biopharmaceutical company, focuses on the development and commercialization of therapies for patients with rare diseases. The company's lead product candidate is amikacin liposome inhalation suspension, which is in late-state development for adult patients with treatment refractory nontuberculous mycobacteria lung disease caused by mycobacterium avium complex.

Further Reading: What does RSI mean?

Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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