E Fund Management Co. Ltd. Raises Holdings in Insmed Incorporated (NASDAQ:INSM)

E Fund Management Co. Ltd. increased its position in Insmed Incorporated (NASDAQ:INSM) by 22.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,178 shares of the biopharmaceutical company’s stock after buying an additional 3,130 shares during the period. E Fund Management Co. Ltd.’s holdings in Insmed were worth $532,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INSM. International Assets Investment Management LLC purchased a new stake in shares of Insmed during the 4th quarter worth approximately $25,000. China Universal Asset Management Co. Ltd. raised its stake in Insmed by 106.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,698 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 1,910 shares in the last quarter. Assetmark Inc. lifted its position in Insmed by 10.7% during the third quarter. Assetmark Inc. now owns 4,799 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 463 shares during the last quarter. Xponance Inc. purchased a new position in shares of Insmed in the 4th quarter worth $259,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Insmed in the 3rd quarter worth about $208,000.

Wall Street Analyst Weigh In

Several research analysts recently commented on INSM shares. StockNews.com lowered Insmed from a “hold” rating to a “sell” rating in a research report on Monday. Wolfe Research initiated coverage on Insmed in a report on Thursday, February 15th. They set an “outperform” rating and a $42.00 price target on the stock. UBS Group began coverage on shares of Insmed in a research note on Tuesday, February 27th. They set a “buy” rating and a $46.00 price objective for the company. Barclays increased their target price on shares of Insmed from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $55.00 price target on shares of Insmed in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.92.

Insmed Stock Down 0.3 %

NASDAQ:INSM traded down $0.08 during midday trading on Wednesday, hitting $26.00. The stock had a trading volume of 1,852,514 shares, compared to its average volume of 1,742,237. The stock has a 50-day moving average of $26.61 and a 200 day moving average of $27.07. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of -4.87 and a beta of 0.93. Insmed Incorporated has a one year low of $18.08 and a one year high of $32.00.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.15). The firm had revenue of $83.70 million for the quarter, compared to analysts’ expectations of $82.15 million. The business’s quarterly revenue was up 41.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.20) EPS. On average, sell-side analysts anticipate that Insmed Incorporated will post -4.65 earnings per share for the current fiscal year.

Insmed 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.