DNB Asset Management AS grew its position in shares of Insmed, Inc. (NASDAQ:INSM – Free Report) by 1,104.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,918 shares of the biopharmaceutical company’s stock after purchasing an additional 37,522 shares during the period. DNB Asset Management AS’s holdings in Insmed were worth $7,121,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its position in shares of Insmed by 8,017.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,254 shares of the biopharmaceutical company’s stock worth $1,611,000 after buying an additional 9,140 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Insmed during the fourth quarter worth approximately $1,741,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Insmed during the fourth quarter worth approximately $124,000. Allworth Financial LP grew its position in shares of Insmed by 20.5% during the fourth quarter. Allworth Financial LP now owns 635 shares of the biopharmaceutical company’s stock worth $111,000 after buying an additional 108 shares in the last quarter. Finally, Strategic Family Wealth Counselors L.L.C. acquired a new stake in shares of Insmed during the fourth quarter worth approximately $207,000.
Insmed Stock Performance
Insmed stock opened at $107.15 on Tuesday. The company has a market cap of $23.22 billion, a PE ratio of -18.63 and a beta of 0.89. The company has a fifty day moving average price of $140.60 and a two-hundred day moving average price of $162.84. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. Insmed, Inc. has a 12 month low of $64.85 and a 12 month high of $212.75.
Analysts Set New Price Targets
INSM has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price target on shares of Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Roth Mkm reissued a “buy” rating and set a $212.00 price target on shares of Insmed in a research report on Friday, April 17th. Leerink Partners raised their price target on shares of Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. Morgan Stanley raised shares of Insmed from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $166.00 to $212.00 in a research report on Monday, March 30th. Finally, Jefferies Financial Group initiated coverage on shares of Insmed in a research report on Monday, March 16th. They set a “buy” rating and a $228.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $210.95.
Check Out Our Latest Stock Analysis on Insmed
Insiders Place Their Bets
In other Insmed news, insider Michael Alexander Smith sold 19,638 shares of Insmed stock in a transaction on Monday, March 30th. The shares were sold at an average price of $150.98, for a total value of $2,964,945.24. Following the completion of the transaction, the insider owned 51,871 shares of the company’s stock, valued at $7,831,483.58. The trade was a 27.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William Lewis sold 10,699 shares of Insmed stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $143.97, for a total transaction of $1,540,335.03. Following the completion of the transaction, the chief executive officer directly owned 301,185 shares of the company’s stock, valued at approximately $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 sold a total of 161,193 shares of company stock valued at $25,462,012 over the last 90 days. 2.10% of the stock is owned by company insiders.
Insmed 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.
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