Hsbc Holdings PLC lifted its stake in Insmed, Inc. (NASDAQ:INSM – Free Report) by 8,052.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 123,267 shares of the biopharmaceutical company’s stock after purchasing an additional 121,755 shares during the quarter. Hsbc Holdings PLC’s holdings in Insmed were worth $21,493,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INSM. Atika Capital Management LLC acquired a new stake in shares of Insmed during the third quarter worth about $13,681,000. iA Global Asset Management Inc. boosted its position 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 purchasing an additional 26,516 shares during the period. Monashee Investment Management LLC purchased a new position in Insmed during the 4th quarter worth approximately $8,702,000. Nordea Investment Management AB purchased a new position in Insmed during the 4th quarter worth approximately $3,492,000. Finally, Darwin Global Management Ltd. increased its position in Insmed by 5.8% during the third quarter. Darwin Global Management Ltd. now owns 20,457,445 shares of the biopharmaceutical company’s stock worth $2,897,797,000 after buying an additional 1,112,824 shares during the period.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on INSM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Insmed in a research note on Tuesday, April 21st. Jefferies Financial Group initiated coverage on shares of Insmed in a report on Monday, March 16th. They issued a “buy” rating and a $228.00 target price on the stock. Raymond James Financial assumed coverage on shares of Insmed in a research report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price target for the company. Mizuho set a $192.00 price target on shares of Insmed in a research note on Tuesday, June 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Insmed from $180.00 to $179.00 and set an “overweight” rating on the stock in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and a consensus price target of $211.86.
Insider Activity
In other news, COO Roger Adsett sold 2,370 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $242,379.90. Following the transaction, the chief operating officer directly owned 98,603 shares in the company, valued at $10,084,128.81. The trade was a 2.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 21,398 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $103.32, for a total transaction of $2,210,841.36. Following the transaction, the chief executive officer directly owned 258,917 shares of the company’s stock, valued at $26,751,304.44. This represents a 7.63% decrease in their ownership of the stock. 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 a total of 54,590 shares of company stock worth $6,078,011 over the last quarter. Insiders own 2.10% of the company’s stock.
Insmed Trading Up 1.2%
NASDAQ:INSM opened at $112.84 on Wednesday. Insmed, Inc. has a 12-month low of $90.39 and a 12-month high of $212.75. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The stock’s 50 day simple moving average is $108.32 and its 200-day simple moving average is $139.18. The firm has a market cap of $24.46 billion, a P/E ratio of -19.62 and a beta of 0.78.
Insmed (NASDAQ:INSM – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The firm had revenue of $305.96 million during the quarter, compared to the consensus estimate of $300.81 million. During the same period last year, the company earned ($1.42) earnings per share. The company’s revenue for the quarter was up 229.7% on a year-over-year basis. Equities analysts anticipate that Insmed, Inc. will post -2.55 EPS for the current year.
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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