BI Asset Management Fondsmaeglerselskab A S cut its position in shares of Insmed, Inc. (NASDAQ:INSM – Free Report) by 73.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,008 shares of the biopharmaceutical company’s stock after selling 22,519 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Insmed were worth $1,309,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Artisan Partners Limited Partnership increased its position in Insmed by 49.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after purchasing an additional 1,623,342 shares in the last quarter. Atika Capital Management LLC purchased a new position in shares of Insmed in the 3rd quarter valued at $13,681,000. iA Global Asset Management Inc. raised its stake in shares of Insmed by 15,973.5% in the 4th quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company’s stock valued at $4,644,000 after acquiring an additional 26,516 shares during the period. Monashee Investment Management LLC acquired a new position in shares of Insmed during the 4th quarter valued at $8,702,000. Finally, Nordea Investment Management AB acquired a new position in shares of Insmed during the 4th quarter valued at $3,492,000.
Insmed Stock Performance
Shares of INSM stock opened at $103.44 on Thursday. The stock has a market capitalization of $22.42 billion, a price-to-earnings ratio of -17.99 and a beta of 0.79. Insmed, Inc. has a one year low of $90.39 and a one year high of $212.75. The company’s 50-day simple moving average is $114.74 and its 200-day simple moving average is $144.81. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47.
Insider Transactions at Insmed
In related news, CEO William Lewis sold 7,605 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $777,763.35. Following the transaction, the chief executive officer directly owned 265,432 shares in the company, valued at $27,145,730.64. This trade represents a 2.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Roger Adsett sold 2,370 shares of Insmed stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $242,379.90. Following the completion of the transaction, the chief operating officer directly owned 98,603 shares of the company’s stock, valued at approximately $10,084,128.81. This represents a 2.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 151,589 shares of company stock valued at $23,075,723. 2.10% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on INSM. Leerink Partners increased their price target on Insmed from $210.00 to $215.00 and gave the company an “outperform” rating in a report on Tuesday, March 24th. Royal Bank Of Canada reduced their price objective on Insmed from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Bank of America raised their target price on Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Barclays boosted their price target on Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Finally, Stifel Nicolaus upped their price target on Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $211.86.
Check Out Our Latest Analysis on INSM
About Insmed
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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