Stock Rotation is Underway: Here are the Winners Moving Forward
Several other research firms also recently weighed in on INSM. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on shares of Insmed from $83.00 to $92.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Guggenheim upped their price objective on shares of Insmed from $95.00 to $101.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Stifel Nicolaus upped their price objective on shares of Insmed from $88.00 to $97.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $105.00 price objective (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. One analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $90.86.
Read Our Latest Report on Insmed
Shares of Insmed stock traded up $0.47 during trading on Wednesday, hitting $81.83. 169,130 shares of the stock were exchanged, compared to its average volume of 1,845,243. The stock's fifty day moving average is $73.51 and its 200 day moving average is $73.31. The stock has a market cap of $14.64 billion, a PE ratio of -14.62 and a beta of 1.11. 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 has a 12 month low of $21.92 and a 12 month high of $82.04.
In other news, CEO William Lewis sold 18,750 shares of the company's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $69.91, for a total value of $1,310,812.50. Following the transaction, the chief executive officer now owns 384,960 shares in the company, valued at $26,912,553.60. This represents a 4.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the company's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $80.00, for a total value of $7,291,200.00. Following the completion of the transaction, the insider now owns 97,083 shares in the company, valued at $7,766,640. This represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 495,135 shares of company stock worth $38,409,713. Company insiders own 4.60% of the company's stock.
A number of large investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new position in shares of Insmed in the 4th quarter valued at about $259,000. Fourth Dimension Wealth LLC acquired a new position in shares of Insmed in the 4th quarter valued at about $278,000. Vise Technologies Inc. increased its holdings in shares of Insmed by 6.3% in the 4th quarter. Vise Technologies Inc. now owns 5,634 shares of the biopharmaceutical company's stock valued at $389,000 after purchasing an additional 336 shares during the period. Castleark Management LLC increased its holdings in shares of Insmed by 21.9% in the 4th quarter. Castleark Management LLC now owns 52,780 shares of the biopharmaceutical company's stock valued at $3,644,000 after purchasing an additional 9,480 shares during the period. Finally, Elequin Capital LP acquired a new position in shares of Insmed in the 4th quarter valued at about $28,000.
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.
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