International Biotechnology Trust PLC grew its position in Insmed Incorporated (NASDAQ:INSM) by 197.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 100,100 shares of the biopharmaceutical company’s stock after purchasing an additional 66,500 shares during the period. International Biotechnology Trust PLC’s holdings in Insmed were worth $2,849,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of INSM. Eaton Vance Management bought a new position in Insmed in the 1st quarter worth about $36,000. Harbor Investment Advisory LLC bought a new position in shares of Insmed in the second quarter valued at approximately $58,000. E Fund Management Co. Ltd. bought a new position in shares of Insmed in the first quarter valued at approximately $121,000. HighMark Wealth Management LLC boosted its holdings in shares of Insmed by 675.7% in the second quarter. HighMark Wealth Management LLC now owns 5,019 shares of the biopharmaceutical company’s stock valued at $137,000 after acquiring an additional 4,372 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Insmed in the first quarter valued at approximately $268,000.
NASDAQ:INSM traded down $0.34 during trading hours on Friday, reaching $26.52. 6,206 shares of the company’s stock were exchanged, compared to its average volume of 973,338. The company has a market capitalization of $3.06 billion, a P/E ratio of -7.48 and a beta of 2.25. Insmed Incorporated has a 12 month low of $22.00 and a 12 month high of $45.44. The company has a quick ratio of 9.81, a current ratio of 10.42 and a debt-to-equity ratio of 1.06. The business’s 50-day simple moving average is $25.94 and its two-hundred day simple moving average is $29.45.
Separately, Zacks Investment Research upgraded shares of Insmed from a “sell” rating to a “hold” rating in a report on Thursday, September 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $50.57.
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.
Featured Article: What is the operating income formula?
Want to see what other hedge funds are holding INSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Insmed Incorporated (NASDAQ:INSM).
Receive News & Ratings for Insmed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insmed and related companies with MarketBeat.com's FREE daily email newsletter.