Cantor Fitzgerald L. P. Makes New Investment in Insmed Incorporated (NASDAQ:INSM)

by · The Markets Daily

Cantor Fitzgerald L. P. bought a new stake in Insmed Incorporated (NASDAQ:INSM – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,000 shares of the biopharmaceutical company’s stock, valued at approximately $682,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Jennison Associates LLC raised its position in Insmed by 0.6% in the 4th quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock valued at $53,424,000 after purchasing an additional 4,560 shares during the last quarter. Capital CS Group LLC bought a new position in shares of Insmed in the fourth quarter valued at about $586,000. Tidal Investments LLC lifted its position in Insmed by 447.0% during the 3rd quarter. Tidal Investments LLC now owns 24,102 shares of the biopharmaceutical company’s stock worth $1,759,000 after buying an additional 19,696 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Insmed by 237.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 59,600 shares of the biopharmaceutical company’s stock worth $4,115,000 after acquiring an additional 41,918 shares during the last quarter. Finally, abrdn plc increased its position in Insmed by 159.5% in the 4th quarter. abrdn plc now owns 289,653 shares of the biopharmaceutical company’s stock valued at $19,998,000 after acquiring an additional 178,041 shares in the last quarter.

Insider Buying and Selling

In other Insmed news, insider Martina M.D. Flammer sold 33,055 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total transaction of $2,674,149.50. Following the completion of the transaction, the insider now owns 138,053 shares of the company’s stock, valued at $11,168,487.70. This represents a 19.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William Lewis sold 6,830 shares of Insmed stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $70.16, for a total transaction of $479,192.80. Following the completion of the sale, the chief executive officer now owns 233,924 shares in the company, valued at $16,412,107.84. This trade represents a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 368,737 shares of company stock valued at $29,364,317. Company insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

INSM has been the topic of several research analyst reports. Guggenheim reissued a “buy” rating and set a $101.00 price target on shares of Insmed in a research note on Tuesday, February 25th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research report on Wednesday, February 19th. Wells Fargo & Company boosted their target price on Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Stifel Nicolaus decreased their price target on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Finally, Truist Financial upped their target price on shares of Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Insmed currently has an average rating of “Moderate Buy” and an average price target of $94.00.

Get Our Latest Report on Insmed

Insmed Stock Down 0.5 %

NASDAQ:INSM opened at $72.30 on Monday. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $84.91. The stock has a 50-day moving average price of $73.42 and a two-hundred day moving average price of $73.45. The stock has a market cap of $13.15 billion, a price-to-earnings ratio of -12.93 and a beta of 1.07. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM – Get Free Report) last posted its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The business had revenue of $104.44 million for the quarter, compared to the consensus estimate of $102.31 million. As a group, equities analysts expect that Insmed Incorporated will post -4.56 earnings per share for the current year.

Insmed Company Profile

(Free Report)

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.

See Also

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