UBS Asset Management Americas Inc. Acquires 26,626 Shares of Insmed Incorporated (NASDAQ:INSM)

UBS Asset Management Americas Inc. increased its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 57.1% in the second quarter, HoldingsChannel reports. The firm owned 73,261 shares of the biopharmaceutical company’s stock after buying an additional 26,626 shares during the period. UBS Asset Management Americas Inc.’s holdings in Insmed were worth $1,875,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of INSM. Point72 Hong Kong Ltd bought a new stake in shares of Insmed during the second quarter worth approximately $34,000. Cubist Systematic Strategies LLC boosted its holdings in shares of Insmed by 88.7% during the second quarter. Cubist Systematic Strategies LLC now owns 12,712 shares of the biopharmaceutical company’s stock worth $325,000 after acquiring an additional 5,975 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Insmed by 936.4% during the second quarter. Point72 Asset Management L.P. now owns 747,266 shares of the biopharmaceutical company’s stock worth $19,130,000 after acquiring an additional 675,166 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Insmed by 7.0% during the second quarter. AQR Capital Management LLC now owns 87,198 shares of the biopharmaceutical company’s stock worth $2,232,000 after acquiring an additional 5,734 shares during the period. Finally, Man Group plc boosted its holdings in shares of Insmed by 29.8% during the second quarter. Man Group plc now owns 456,736 shares of the biopharmaceutical company’s stock worth $11,692,000 after acquiring an additional 104,829 shares during the period.

A number of equities research analysts have recently issued reports on the company. BidaskClub cut Insmed from a “sell” rating to a “strong sell” rating in a report on Friday. Goldman Sachs Group started coverage on Insmed in a report on Tuesday, September 3rd. They set a “buy” rating and a $30.00 price objective for the company. Credit Suisse Group reiterated a “buy” rating and issued a $40.00 price target on shares of Insmed in a research report on Tuesday, September 10th. Zacks Investment Research downgraded shares of Insmed from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, ValuEngine downgraded shares of Insmed from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.71.

NASDAQ INSM opened at $17.40 on Friday. The company has a current ratio of 7.54, a quick ratio of 7.31 and a debt-to-equity ratio of 1.01. Insmed Incorporated has a 1-year low of $11.31 and a 1-year high of $33.13. The company has a 50 day moving average of $17.59 and a 200-day moving average of $23.41. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -4.17 and a beta of 2.97.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.04. The business had revenue of $30.00 million during the quarter, compared to analyst estimates of $26.30 million. On average, equities research analysts forecast that Insmed Incorporated will post -2.99 earnings per share for the current year.

About Insmed

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.

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Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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