Insmed, Inc. $INSM Shares Bought by M&T Bank Corp

M&T Bank Corp grew its position in Insmed, Inc. (NASDAQ:INSM) by 9,452.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 391,075 shares of the biopharmaceutical company’s stock after acquiring an additional 386,981 shares during the quarter. M&T Bank Corp’s holdings in Insmed were worth $68,063,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CoreCap Advisors LLC purchased a new position in shares of Insmed in the fourth quarter valued at approximately $27,000. GraniteShares Advisors LLC purchased a new position in shares of Insmed in the fourth quarter valued at approximately $30,000. CIBC Private Wealth Group LLC lifted its position in shares of Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 53 shares in the last quarter. Stone House Investment Management LLC purchased a new position in shares of Insmed in the third quarter valued at approximately $29,000. Finally, SBI Securities Co. Ltd. lifted its position in shares of Insmed by 404.9% in the third quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 166 shares in the last quarter.

Insider Buying and Selling at Insmed

In other Insmed news, COO Roger Adsett sold 88,060 shares of Insmed stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $164.63, for a total value of $14,497,317.80. Following the sale, the chief operating officer owned 106,810 shares in the company, valued at $17,584,130.30. The trade was a 45.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Lewis sold 10,699 shares of Insmed stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $143.97, for a total value of $1,540,335.03. Following the completion of the sale, the chief executive officer owned 301,185 shares in the company, valued at $43,361,604.45. This represents a 3.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 179,777 shares of company stock worth $28,252,720 over the last quarter. 2.10% of the stock is currently owned by company insiders.

Insmed Stock Performance

Shares of Insmed stock opened at $140.98 on Wednesday. Insmed, Inc. has a one year low of $63.81 and a one year high of $212.75. The company has a market cap of $30.43 billion, a price-to-earnings ratio of -21.99 and a beta of 1.10. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.54 and a current ratio of 3.83. The business’s 50 day moving average price is $149.67 and its 200 day moving average price is $167.43.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) EPS for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.47). Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The business had revenue of $263.84 million during the quarter, compared to analysts’ expectations of $263.97 million. During the same quarter in the prior year, the firm earned ($1.32) EPS. Insmed’s revenue for the quarter was up 152.6% compared to the same quarter last year. On average, research analysts predict that Insmed, Inc. will post -2.51 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on INSM. Truist Financial set a $205.00 target price on Insmed in a research report on Monday, January 12th. Barclays raised their target price on Insmed from $231.00 to $237.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. HC Wainwright raised their target price on Insmed from $230.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Morgan Stanley upgraded Insmed from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $166.00 to $212.00 in a research report on Monday, March 30th. Finally, Guggenheim reiterated a “buy” rating and set a $230.00 price objective on shares of Insmed in a research report on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Insmed presently has an average rating of “Buy” and a consensus target price of $213.23.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.