Simon Quick Advisors LLC bought a new stake in shares of Insmed, Inc. (NASDAQ:INSM – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 50,065 shares of the biopharmaceutical company’s stock, valued at approximately $8,187,000.
A number of other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new position in Insmed in the 4th quarter worth approximately $506,625,000. RTW Investments LP raised its position in shares of Insmed by 57.0% during the fourth quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company’s stock valued at $842,855,000 after buying an additional 1,758,321 shares during the last quarter. Orbis Allan Gray Ltd bought a new stake in shares of Insmed during the second quarter valued at approximately $153,389,000. State Street Corp lifted its holdings in shares of Insmed by 30.6% in the fourth quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock worth $905,312,000 after buying an additional 1,217,390 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Insmed by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company’s stock worth $3,668,127,000 after acquiring an additional 1,140,524 shares during the last quarter.
Analyst Ratings Changes
INSM has been the topic of a number of research reports. Leerink Partners lifted their price target on shares of Insmed from $210.00 to $215.00 and gave the company an “outperform” rating in a report on Tuesday, March 24th. Mizuho set a $192.00 price objective on shares of Insmed in a report on Tuesday, June 16th. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a report on Wednesday, June 10th. JPMorgan Chase & Co. cut their price objective on Insmed from $180.00 to $179.00 and set an “overweight” rating for the company in a research report on Monday, June 8th. Finally, Raymond James Financial initiated coverage on Insmed in a research report on Friday, April 10th. They issued an “outperform” rating and a $200.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $211.05.
Insmed Stock Up 0.8%
Shares of INSM opened at $108.32 on Friday. 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 business has a fifty day moving average of $105.72 and a 200 day moving average of $135.91. The company has a market cap of $23.48 billion, a PE ratio of -18.84 and a beta of 0.78. Insmed, Inc. has a 52-week low of $90.39 and a 52-week high of $212.75.
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, beating analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business had revenue of $305.96 million for the quarter, compared to analysts’ expectations of $300.81 million. During the same quarter in the previous year, the business posted ($1.42) earnings per share. The business’s revenue was up 229.7% compared to the same quarter last year. On average, sell-side analysts expect that Insmed, Inc. will post -2.52 EPS for the current year.
Insider Activity
In other news, COO Roger Adsett sold 2,370 shares of the company’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 transaction of $242,379.90. Following the transaction, the chief operating officer owned 98,603 shares of the company’s stock, valued at approximately $10,084,128.81. This represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 21,398 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 258,917 shares in the company, valued at approximately $26,751,304.44. The trade was 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. Insiders sold a total of 54,590 shares of company stock valued at $5,793,738 in the last quarter. 2.10% of the stock is currently owned by company insiders.
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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