Hsbc Holdings PLC lessened its stake in shares of Insmed, Inc. (NASDAQ:INSM – Free Report) by 5.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,456 shares of the biopharmaceutical company’s stock after selling 6,811 shares during the quarter. Hsbc Holdings PLC owned 0.05% of Insmed worth $19,038,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of Insmed by 65.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 263 shares during the last quarter. First Trust Advisors LP increased its holdings in Insmed by 80.8% in the 2nd quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock valued at $4,770,000 after purchasing an additional 21,176 shares during the last quarter. Baird Financial Group Inc. purchased a new stake in Insmed in the second quarter valued at approximately $2,589,000. Amundi raised its position in Insmed by 21,194.4% in the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock valued at $1,130,000 after purchasing an additional 11,445 shares during the period. Finally, Natixis acquired a new position in Insmed during the second quarter worth $1,072,000.
Insider Buying and Selling
In other news, insider Michael Alexander Smith sold 6,149 shares of Insmed stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $108.47, for a total value of $666,982.03. Following the completion of the transaction, the insider owned 41,613 shares in the company, valued at approximately $4,513,762.11. This trade represents a 12.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Lewis sold 21,398 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $103.32, for a total value of $2,210,841.36. Following the transaction, the chief executive officer directly owned 258,917 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders sold 54,590 shares of company stock valued at $5,793,738. Company insiders own 2.10% of the company’s stock.
Insmed Stock Performance
Insmed (NASDAQ:INSM – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. The business had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The company’s revenue was up 229.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.42) earnings per share. On average, research analysts predict that Insmed, Inc. will post -2.43 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Roth Capital restated a “buy” rating on shares of Insmed in a research report on Monday, June 8th. Morgan Stanley upgraded Insmed from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $166.00 to $212.00 in a report on Monday, March 30th. JPMorgan Chase & Co. decreased their target price on Insmed from $180.00 to $179.00 and set an “overweight” rating on the stock in a research note on Monday, June 8th. Mizuho set a $192.00 target price on Insmed in a report on Tuesday, June 16th. Finally, Wells Fargo & Company lifted their target price on Insmed from $160.00 to $161.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.
Check Out Our Latest Research Report on Insmed
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.
Read More
- Five stocks we like better than Insmed
- Confidence Is Back, But Earnings Show the Consumer Is Being Picky
- AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off
- 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative?
- 3 Photonics Companies Making Quantum Tech Possible
Receive News & Ratings for Insmed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insmed and related companies with MarketBeat.com's FREE daily email newsletter.
