Franklin Resources Inc. increased its position in shares of Insmed, Inc. (NASDAQ:INSM – Free Report) by 28.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,755,536 shares of the biopharmaceutical company’s stock after buying an additional 615,811 shares during the period. Franklin Resources Inc.’s holdings in Insmed were worth $479,573,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of INSM. Erste Asset Management GmbH lifted its stake in shares of Insmed by 4.2% in the 4th quarter. Erste Asset Management GmbH now owns 49,603 shares of the biopharmaceutical company’s stock valued at $8,747,000 after purchasing an additional 2,003 shares during the period. O Shaughnessy Asset Management LLC grew its stake in Insmed by 65.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 21,929 shares of the biopharmaceutical company’s stock worth $3,817,000 after purchasing an additional 8,703 shares during the period. Fiera Capital Corp increased its holdings in Insmed by 22.7% in the fourth quarter. Fiera Capital Corp now owns 992,892 shares of the biopharmaceutical company’s stock worth $172,803,000 after purchasing an additional 183,771 shares in the last quarter. Havemeyer Place LP acquired a new position in Insmed in the fourth quarter valued at approximately $1,025,000. Finally, Vestcor Inc acquired a new position in Insmed in the fourth quarter valued at approximately $738,000.
Insider Buying and Selling at Insmed
In related news, insider Michael Alexander Smith sold 2,159 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $220,800.93. Following the transaction, the insider owned 39,454 shares of the company’s stock, valued at approximately $4,034,960.58. This trade represents a 5.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 7,605 shares of the business’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 $777,763.35. Following the sale, the chief executive officer directly owned 265,432 shares of the company’s stock, valued at $27,145,730.64. This represents a 2.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 160,482 shares of company stock worth $24,438,193. 2.10% of the stock is currently owned by insiders.
Insmed Stock Performance
Insmed (NASDAQ:INSM – Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business’s revenue was up 229.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.42) earnings per share. Sell-side analysts predict that Insmed, Inc. will post -2.56 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on INSM. Truist Financial reduced their price objective on shares of Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. JPMorgan Chase & Co. cut their target price on shares of Insmed from $180.00 to $179.00 and set an “overweight” rating on the stock in a research note on Monday. HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a research note on Friday, May 8th. Guggenheim dropped their price objective on shares of Insmed from $230.00 to $226.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, Stifel Nicolaus increased their price objective on shares of Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. One equities research analyst has 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $212.50.
Read Our Latest Stock Analysis on Insmed
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.
Read More
- Five stocks we like better than Insmed
- 3 Stocks With Fresh Catalysts to Watch Before the July 4
- Amprius Insiders Are Selling: Should Investors Be Worried?
- A Weaker Dollar Could Put These 3 Industrial Stocks Back in Focus
- A Market Rotation Toward Quality Will Benefit These 3 ETFs
Want to see what other hedge funds are holding INSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Insmed, Inc. (NASDAQ:INSM – Free Report).
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.
