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

TimesSquare Capital Management LLC lifted its stake in Insmed Incorporated (NASDAQ:INSM) by 41.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 684,384 shares of the biopharmaceutical company’s stock after buying an additional 200,515 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.38% of Insmed worth $47,250,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Insmed by 4.7% in the third quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock worth $278,432,000 after buying an additional 172,664 shares in the last quarter. Principal Financial Group Inc. increased its position in Insmed by 12.9% in the third quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock worth $136,648,000 after purchasing an additional 214,130 shares during the last quarter. Vestal Point Capital LP increased its position in Insmed by 113.3% in the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after purchasing an additional 850,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Insmed by 10.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,444,266 shares of the biopharmaceutical company’s stock worth $105,431,000 after purchasing an additional 137,670 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Insmed by 2.6% in the third quarter. Wellington Management Group LLP now owns 962,459 shares of the biopharmaceutical company’s stock worth $70,260,000 after purchasing an additional 24,025 shares during the last quarter.

Insider Transactions at Insmed

In other news, CFO Sara Bonstein sold 13,302 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $80.00, for a total value of $1,064,160.00. Following the transaction, the chief financial officer now directly owns 142,204 shares in the company, valued at approximately $11,376,320. This represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Martina M.D. Flammer sold 37,828 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $78.61, for a total transaction of $2,973,659.08. Following the completion of the transaction, the insider now owns 100,165 shares in the company, valued at approximately $7,873,970.65. The trade was a 27.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 495,135 shares of company stock worth $38,409,713. Insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $90.00 price target on shares of Insmed in a research report on Friday, November 1st. Stifel Nicolaus boosted their price target on shares of Insmed from $88.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. boosted their price target on shares of Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Guggenheim boosted their price target on shares of Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Morgan Stanley boosted their price objective on shares of Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

Insmed Stock Up 2.6 %

NASDAQ INSM opened at $81.36 on Wednesday. The company’s 50-day moving average price is $73.51 and its 200-day moving average price is $73.31. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $82.04.

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.