TD Asset Management Inc decreased its holdings in Insmed, Inc. (NASDAQ:INSM – Free Report) by 34.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262,478 shares of the biopharmaceutical company’s stock after selling 135,778 shares during the quarter. TD Asset Management Inc owned approximately 0.12% of Insmed worth $45,682,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INSM. EverSource Wealth Advisors LLC grew its holdings in Insmed by 65.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 263 shares during the period. First Trust Advisors LP grew 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 buying an additional 21,176 shares during the period. Baird Financial Group Inc. purchased a new stake in Insmed in the 2nd quarter valued at about $2,589,000. Amundi grew its holdings in Insmed by 21,194.4% in the 2nd 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 stake in Insmed in the 2nd quarter valued at about $1,072,000.
Wall Street Analyst Weigh In
Several analysts have commented on the company. Roth Mkm restated a “buy” rating and issued a $212.00 price target on shares of Insmed in a report on Friday, April 17th. Jefferies Financial Group assumed coverage on Insmed in a report on Monday, March 16th. They issued a “buy” rating and a $228.00 price target for the company. Bank of America lifted their price target on Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Mizuho lifted their price target on Insmed from $204.00 to $206.00 and gave the company an “outperform” rating in a report on Wednesday, March 25th. Finally, Royal Bank Of Canada lowered their price target on Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $210.50.
Insider Transactions at Insmed
In other news, insider Michael Alexander Smith sold 2,159 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $220,800.93. Following the completion of the sale, the insider owned 39,454 shares in the company, valued at approximately $4,034,960.58. The trade was a 5.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 7,605 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $777,763.35. Following the sale, the chief executive officer owned 265,432 shares of the company’s stock, valued at $27,145,730.64. The trade was a 2.79% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 160,482 shares of company stock worth $24,438,193 over the last 90 days. Company insiders own 2.10% of the company’s stock.
Insmed Stock Down 10.2%
Shares of NASDAQ:INSM opened at $94.22 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 1 year low of $70.57 and a 1 year high of $212.75. The stock has a market capitalization of $20.42 billion, a P/E ratio of -16.39 and a beta of 0.79. The stock has a 50-day simple moving average of $130.45 and a 200-day simple moving average of $154.95.
Insmed (NASDAQ:INSM – Get Free Report) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $305.96 million during the quarter, compared to analysts’ expectations of $300.81 million. During the same quarter in the previous year, the business earned ($1.42) EPS. The company’s revenue for the quarter was up 229.7% on a year-over-year basis. Equities analysts forecast that Insmed, Inc. will post -2.56 earnings per share 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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