Mutual of America Capital Management LLC Sells 641 Shares of Insmed Incorporated (NASDAQ:INSM)

Mutual of America Capital Management LLC lessened its holdings in shares of Insmed Incorporated (NASDAQ:INSMGet Rating) by 0.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,287 shares of the biopharmaceutical company’s stock after selling 641 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Insmed were worth $1,682,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pictet Asset Management SA boosted its position in Insmed by 6.8% during the second quarter. Pictet Asset Management SA now owns 3,797,941 shares of the biopharmaceutical company’s stock worth $74,895,000 after purchasing an additional 242,092 shares during the period. Bellevue Group AG boosted its position in shares of Insmed by 0.9% in the first quarter. Bellevue Group AG now owns 3,551,776 shares of the biopharmaceutical company’s stock valued at $83,467,000 after acquiring an additional 30,915 shares during the period. Fairmount Funds Management LLC boosted its position in shares of Insmed by 48.4% in the first quarter. Fairmount Funds Management LLC now owns 1,948,784 shares of the biopharmaceutical company’s stock valued at $45,796,000 after acquiring an additional 635,177 shares during the period. Suvretta Capital Management LLC boosted its position in shares of Insmed by 21.9% in the first quarter. Suvretta Capital Management LLC now owns 1,318,432 shares of the biopharmaceutical company’s stock valued at $30,983,000 after acquiring an additional 236,900 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of Insmed by 56.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,258,920 shares of the biopharmaceutical company’s stock valued at $24,826,000 after acquiring an additional 455,186 shares during the period.

Analysts Set New Price Targets

A number of research firms have recently commented on INSM. Cantor Fitzgerald cut their price objective on shares of Insmed from $53.00 to $49.00 and set an “overweight” rating for the company in a research report on Tuesday, October 25th. Cowen cut their price objective on shares of Insmed from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, October 21st. Credit Suisse Group lowered their target price on shares of Insmed to $52.00 in a research note on Tuesday, November 1st. Cowen lowered their target price on shares of Insmed from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Friday, October 21st. Finally, Bank of America began coverage on shares of Insmed in a research note on Friday, November 18th. They issued a “buy” rating and a $39.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.78.

Insider Activity

In other Insmed news, Director Melvin Md Sharoky bought 20,000 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were purchased at an average price of $17.53 per share, for a total transaction of $350,600.00. Following the acquisition, the director now owns 281,021 shares in the company, valued at approximately $4,926,298.13. The purchase was disclosed in a filing with the SEC, which is available at this link. In related news, COO Roger Adsett sold 11,855 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $18.80, for a total value of $222,874.00. Following the transaction, the chief operating officer now owns 134,127 shares in the company, valued at approximately $2,521,587.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Melvin Md Sharoky purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The stock was purchased at an average price of $17.53 per share, for a total transaction of $350,600.00. Following the purchase, the director now owns 281,021 shares in the company, valued at $4,926,298.13. The disclosure for this purchase can be found here. Company insiders own 4.63% of the company’s stock.

Insmed Stock Performance

Shares of INSM stock opened at $18.37 on Friday. Insmed Incorporated has a 12 month low of $16.41 and a 12 month high of $30.72. The stock has a market cap of $2.49 billion, a PE ratio of -5.05 and a beta of 1.58. The company has a current ratio of 4.59, a quick ratio of 4.11 and a debt-to-equity ratio of 18.24. The company’s fifty day moving average price is $20.05 and its 200-day moving average price is $21.39.

About Insmed

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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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Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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