Candriam S.C.A. lifted its holdings in Insmed, Inc. (NASDAQ:INSM – Free Report) by 4.7% during the third quarter, Holdings Channel reports. The institutional investor owned 581,069 shares of the biopharmaceutical company’s stock after purchasing an additional 25,938 shares during the quarter. Candriam S.C.A.’s holdings in Insmed were worth $66,566,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Pictet Asset Management Holding SA lifted its holdings in Insmed by 44.0% in the third quarter. Pictet Asset Management Holding SA now owns 1,757,541 shares of the biopharmaceutical company’s stock valued at $200,845,000 after acquiring an additional 537,188 shares during the period. Sei Investments Co. grew its stake in shares of Insmed by 56.8% during the 1st quarter. Sei Investments Co. now owns 1,395,794 shares of the biopharmaceutical company’s stock worth $228,239,000 after purchasing an additional 505,624 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Insmed during the 2nd quarter worth $139,966,000. Assenagon Asset Management S.A. increased its holdings in shares of Insmed by 480.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,266,788 shares of the biopharmaceutical company’s stock valued at $144,591,000 after purchasing an additional 1,048,518 shares in the last quarter. Finally, NWI Management LP increased its holdings in shares of Insmed by 2.6% in the 1st quarter. NWI Management LP now owns 1,014,000 shares of the biopharmaceutical company’s stock valued at $165,809,000 after purchasing an additional 25,540 shares in the last quarter.
Insider Buying and Selling
In other news, Director David Brennan sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $124.00, for a total transaction of $3,100,000.00. Following the completion of the transaction, the director directly owned 39,238 shares of the company’s stock, valued at $4,865,512. This trade represents a 38.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Roger Adsett sold 239,850 shares of Insmed stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $133.27, for a total value of $31,964,809.50. Following the transaction, the chief operating officer owned 98,744 shares of the company’s stock, valued at $13,159,612.88. This represents a 70.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.10% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently commented on INSM shares. Barclays decreased their price objective on shares of Insmed from $237.00 to $207.00 and set an “overweight” rating on the stock in a report on Wednesday, September 30th. JPMorgan Chase & Co. dropped their target price on shares of Insmed from $179.00 to $175.00 and set an “overweight” rating for the company in a report on Monday, August 10th. Bank of America reiterated a “buy” rating and set a $207.00 price target on shares of Insmed in a research report on Monday, October 12th. Guggenheim decreased their price target on Insmed from $205.00 to $201.00 and set a “buy” rating on the stock in a research note on Monday, November 2nd. Finally, Mizuho set a $154.00 price target on Insmed in a report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $196.52.
View Our Latest Report on INSM
Insmed Price Performance
Insmed stock opened at $114.40 on Friday. The firm has a market capitalization of $25.10 billion, a PE ratio of -40.57 and a beta of 0.83. Insmed, Inc. has a 52 week low of $90.39 and a 52 week high of $212.75. The firm’s 50-day simple moving average is $111.21 and its 200 day simple moving average is $124.36. The company has a quick ratio of 2.59, a current ratio of 2.86 and a debt-to-equity ratio of 0.77.
Insmed (NASDAQ:INSM – Get Free Report) last posted its earnings results on Thursday, October 29th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.08). Insmed had a negative net margin of 39.85% and a negative return on equity of 96.38%. The business had revenue of $524.43 million for the quarter, compared to analysts’ expectations of $500.36 million. During the same quarter last year, the business posted ($1.75) earnings per share. The business’s revenue was up 268.4% compared to the same quarter last year. On average, equities research analysts predict that Insmed, Inc. will post -1.86 EPS for the current fiscal year.
Insmed Profile
Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing treatments for serious diseases, including respiratory and rare conditions. The company is based in Bridgewater, New Jersey, and is led by President and Chief Executive Officer William H. Lewis Jr.
Its commercial products include ARIKAYCE, an inhaled amikacin treatment for certain adults with refractory Mycobacterium avium complex lung disease, and BRINSUPRI (brensocatib), an oral treatment for non-cystic fibrosis bronchiectasis.
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