Legato Capital Management LLC Increases Stake in Insmed Incorporated (NASDAQ:INSM)

Legato Capital Management LLC increased its stake in Insmed Incorporated (NASDAQ:INSM) by 2.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 36,871 shares of the biopharmaceutical company’s stock after buying an additional 792 shares during the period. Legato Capital Management LLC’s holdings in Insmed were worth $2,546,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of INSM. V Square Quantitative Management LLC acquired a new position in shares of Insmed in the 3rd quarter valued at $30,000. GAMMA Investing LLC grew its position in Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 224 shares during the period. Spire Wealth Management acquired a new stake in Insmed during the fourth quarter worth about $47,000. Exchange Traded Concepts LLC raised its holdings in shares of Insmed by 522.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 627 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Insmed by 2,348.8% in the 3rd quarter. Blue Trust Inc. now owns 1,959 shares of the biopharmaceutical company’s stock worth $131,000 after purchasing an additional 1,879 shares during the period.

Insmed Price Performance

Shares of INSM opened at $79.89 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 business’s 50 day moving average is $73.00 and its two-hundred day moving average is $73.12. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $82.04.

Insider Buying and Selling

In related news, insider Martina M.D. Flammer sold 3,344 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total value of $220,403.04. Following the completion of the sale, the insider now directly owns 102,766 shares of the company’s stock, valued at $6,773,307.06. The trade was a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total value of $1,309,500.00. Following the sale, the chief executive officer now owns 384,960 shares in the company, valued at $26,885,606.40. The trade was a 4.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 401,030 shares of company stock worth $30,993,629. Insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on INSM shares. JPMorgan Chase & Co. boosted their target price on Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Morgan Stanley increased their price objective on shares of Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Guggenheim lifted their target price on shares of Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a report on Friday, February 7th. Stifel Nicolaus increased their price target on Insmed from $88.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday. Finally, HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Insmed in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.60.

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.