Swiss National Bank raised its stake in shares of Insmed, Inc. (NASDAQ:INSM – Free Report) by 8.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 625,912 shares of the biopharmaceutical company’s stock after purchasing an additional 46,800 shares during the period. Swiss National Bank owned 0.29% of Insmed worth $102,349,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. CoreCap Advisors LLC acquired a new position in shares of Insmed during the 4th quarter worth about $27,000. Reflection Asset Management acquired a new stake in Insmed in the 4th quarter worth about $30,000. GraniteShares Advisors LLC acquired a new stake in Insmed in the 4th quarter worth about $30,000. CIBC Private Wealth Group LLC boosted its holdings in Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 53 shares during the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in Insmed during the 4th quarter worth approximately $32,000.
Insmed Stock Down 1.2%
NASDAQ INSM opened at $107.02 on Tuesday. The business’s fifty day simple moving average is $105.79 and its 200-day simple moving average is $135.16. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The firm has a market cap of $23.20 billion, a PE ratio of -18.61 and a beta of 0.78. Insmed, Inc. has a 52 week low of $90.39 and a 52 week high of $212.75.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the company. Truist Financial reduced their target price on Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Guggenheim reaffirmed a “buy” rating and issued a $207.00 price target on shares of Insmed in a research note on Friday, July 10th. Bank of America boosted their price target on Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. HC Wainwright reissued a “buy” rating and issued a $220.00 price objective on shares of Insmed in a research note on Monday. Finally, Morgan Stanley raised Insmed from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $166.00 to $212.00 in a research note on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.
Get Our Latest Stock Report on INSM
Insider Activity at Insmed
In other Insmed news, CFO Sara Bonstein sold 2,404 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $245,857.08. Following the completion of the transaction, the chief financial officer owned 69,082 shares of the company’s stock, valued at $7,065,016.14. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 10,699 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $117.40, for a total transaction of $1,256,062.60. Following the transaction, the chief executive officer directly owned 259,058 shares of the company’s stock, valued at approximately $30,413,409.20. This trade represents a 3.97% 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 a total of 54,590 shares of company stock valued at $5,793,738 in the last quarter. Corporate insiders own 2.10% of the company’s stock.
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.
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