Insmed, Inc. $INSM Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its position in shares of Insmed, Inc. (NASDAQ:INSM) by 21.3% during the second quarter, Holdings Channel reports. The fund owned 395,194 shares of the biopharmaceutical company’s stock after selling 107,038 shares during the quarter. TD Asset Management Inc’s holdings in Insmed were worth $39,772,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Yousif Capital Management LLC acquired a new stake in Insmed during the second quarter worth approximately $201,000. LRI Investments LLC acquired a new position in shares of Insmed in the 2nd quarter valued at $59,000. IFP Advisors Inc boosted its holdings in shares of Insmed by 29.5% in the 2nd quarter. IFP Advisors Inc now owns 2,423 shares of the biopharmaceutical company’s stock valued at $244,000 after purchasing an additional 552 shares during the last quarter. Maryland State Retirement & Pension System acquired a new position in shares of Insmed in the 2nd quarter valued at $873,000. Finally, KLP Kapitalforvaltning AS boosted its holdings in shares of Insmed by 10.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 37,800 shares of the biopharmaceutical company’s stock valued at $3,804,000 after purchasing an additional 3,600 shares during the last quarter.

Insider Buying and Selling at Insmed

In other Insmed news, CFO Sara Bonstein sold 58,400 shares of the business’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $102.67, for a total value of $5,995,928.00. Following the transaction, the chief financial officer owned 73,505 shares in the company, valued at $7,546,758.35. The trade was a 44.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Alexander Smith sold 24,272 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $143.89, for a total transaction of $3,492,498.08. Following the completion of the transaction, the insider owned 54,902 shares in the company, valued at $7,899,848.78. This represents a 30.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 211,057 shares of company stock worth $27,438,126. Corporate insiders own 3.00% of the company’s stock.

Insmed Stock Performance

NASDAQ:INSM opened at $163.19 on Friday. The company has a current ratio of 6.68, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $34.50 billion, a price-to-earnings ratio of -28.58 and a beta of 1.03. The firm’s fifty day simple moving average is $142.26 and its 200 day simple moving average is $104.19. Insmed, Inc. has a twelve month low of $60.40 and a twelve month high of $166.44.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.30) by ($0.40). The business had revenue of $107.42 million for the quarter, compared to analyst estimates of $104.06 million. Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The business’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.94) EPS. Insmed has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on INSM shares. Mizuho lifted their price target on shares of Insmed from $130.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, August 13th. William Blair started coverage on shares of Insmed in a report on Wednesday, August 20th. They issued an “outperform” rating on the stock. Cowen reiterated a “buy” rating on shares of Insmed in a report on Thursday, October 2nd. Royal Bank Of Canada lifted their price target on shares of Insmed from $108.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Insmed in a report on Wednesday, October 8th. Nineteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $152.88.

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.