Janus Henderson Group PLC lessened its position in shares of Insmed, Inc. (NASDAQ:INSM – Free Report) by 47.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 419,304 shares of the biopharmaceutical company’s stock after selling 381,251 shares during the period. Janus Henderson Group PLC owned approximately 0.19% of Insmed worth $68,564,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of INSM. EverSource Wealth Advisors LLC increased its holdings in shares of Insmed by 65.6% in the second quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 263 shares during the period. First Trust Advisors LP raised its position in shares of Insmed by 80.8% in the second quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock worth $4,770,000 after buying an additional 21,176 shares in the last quarter. Baird Financial Group Inc. bought a new stake in Insmed during the second quarter valued at $2,589,000. Amundi boosted its stake in Insmed by 21,194.4% during the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock valued at $1,130,000 after buying an additional 11,445 shares during the period. Finally, Natixis purchased a new position in Insmed during the second quarter worth about $1,072,000.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. 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. Wells Fargo & Company lifted their price target on Insmed from $160.00 to $161.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Mizuho set a $192.00 price objective on Insmed in a report on Tuesday, June 16th. Truist Financial decreased their price objective on shares of Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $235.00 target price on shares of Insmed in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Insmed currently has an average rating of “Buy” and an average price target of $209.35.
Insider Buying and Selling
In related news, CFO Sara Bonstein sold 2,404 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $245,857.08. Following the completion of the sale, the chief financial officer directly owned 69,082 shares in the company, valued at $7,065,016.14. This represents a 3.36% decrease in their position. 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, COO Roger Adsett sold 2,370 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $242,379.90. Following the transaction, the chief operating officer owned 98,603 shares in the company, valued at approximately $10,084,128.81. The trade was a 2.35% decrease in their ownership of the stock. 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. Insiders sold a total of 54,590 shares of company stock valued at $5,793,738 over the last three months. 2.10% of the stock is owned by corporate insiders.
Insmed Price Performance
Shares of Insmed stock opened at $98.60 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. Insmed, Inc. has a 52-week low of $90.39 and a 52-week high of $212.75. The company has a fifty day moving average of $104.68 and a 200-day moving average of $131.02. The stock has a market capitalization of $21.37 billion, a price-to-earnings ratio of -17.15 and a beta of 0.78.
Insmed (NASDAQ:INSM – Get Free Report) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. The company had revenue of $305.96 million for the quarter, compared to analysts’ expectations of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm’s revenue was up 229.7% compared to the same quarter last year. During the same quarter last year, the company earned ($1.42) EPS. Equities research analysts expect that Insmed, Inc. will post -2.43 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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