TimesSquare Capital Management LLC Grows Position in Insmed Incorporated (NASDAQ:INSM)

TimesSquare Capital Management LLC increased its holdings in Insmed Incorporated (NASDAQ:INSM) by 41.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 684,384 shares of the biopharmaceutical company’s stock after acquiring an additional 200,515 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Insmed were worth $47,250,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its position in shares of Insmed by 8.5% during the fourth quarter. New York State Common Retirement Fund now owns 317,753 shares of the biopharmaceutical company’s stock valued at $21,938,000 after buying an additional 24,974 shares during the last quarter. Peregrine Capital Management LLC raised its position in shares of Insmed by 11.9% in the 4th quarter. Peregrine Capital Management LLC now owns 193,479 shares of the biopharmaceutical company’s stock valued at $13,358,000 after purchasing an additional 20,642 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Insmed in the 4th quarter valued at approximately $86,000. Truist Financial Corp raised its position in shares of Insmed by 3.4% in the 4th quarter. Truist Financial Corp now owns 30,038 shares of the biopharmaceutical company’s stock valued at $2,074,000 after purchasing an additional 1,000 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Insmed by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 4,685 shares of the biopharmaceutical company’s stock valued at $323,000 after purchasing an additional 247 shares during the last quarter.

Insider Activity

In related news, CFO Sara Bonstein sold 1,066 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $63.72, for a total value of $67,925.52. Following the completion of the sale, the chief financial officer now owns 118,863 shares of the company’s stock, valued at approximately $7,573,950.36. The trade was a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Martina M.D. Flammer sold 33,055 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 138,053 shares of the company’s stock, valued at approximately $11,168,487.70. The trade was a 19.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 495,135 shares of company stock valued at $38,409,713 in the last three months. 4.60% of the stock is currently owned by corporate insiders.

Insmed Price Performance

NASDAQ:INSM opened at $81.36 on Wednesday. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The company has a 50 day moving average price of $73.51 and a 200-day moving average price of $73.31. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $82.04.

Analysts Set New Price Targets

INSM has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st. Guggenheim increased their price objective on shares of Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Stifel Nicolaus increased their price objective on shares of Insmed from $88.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Truist Financial reiterated a “buy” rating and issued a $105.00 price target (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. Finally, Morgan Stanley increased their price target on shares of Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $88.71.

Insmed Company Profile

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.