Harvest Fund Management Co. Ltd Purchases 14,454 Shares of Insmed, Inc. $INSM

Harvest Fund Management Co. Ltd boosted its position in shares of Insmed, Inc. (NASDAQ:INSM) by 509.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 17,291 shares of the biopharmaceutical company’s stock after buying an additional 14,454 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Insmed were worth $3,009,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prudential PLC bought a new stake in Insmed during the 4th quarter worth about $679,000. Vise Technologies Inc. raised its holdings in Insmed by 18.4% during the 4th quarter. Vise Technologies Inc. now owns 6,314 shares of the biopharmaceutical company’s stock worth $1,099,000 after purchasing an additional 982 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Insmed by 961.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 38,251 shares of the biopharmaceutical company’s stock valued at $6,657,000 after acquiring an additional 34,648 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Insmed by 914.5% in the 4th quarter. CIBC Asset Management Inc now owns 48,463 shares of the biopharmaceutical company’s stock valued at $8,435,000 after acquiring an additional 43,686 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Insmed by 22.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,390,042 shares of the biopharmaceutical company’s stock valued at $241,923,000 after acquiring an additional 251,141 shares during the last quarter.

Insmed Price Performance

Shares of 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. The stock has a 50 day simple moving average of $130.45 and a 200 day simple moving average of $154.95. Insmed, Inc. has a 52-week low of $70.57 and a 52-week high of $212.75. The firm has a market capitalization of $20.42 billion, a PE ratio of -16.39 and a beta of 0.79.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $300.81 million. During the same period in the previous year, the firm earned ($1.42) EPS. Insmed’s quarterly revenue was up 229.7% compared to the same quarter last year. Sell-side analysts predict that Insmed, Inc. will post -2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO William Lewis sold 10,699 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $143.97, for a total value of $1,540,335.03. Following the completion of the transaction, the chief executive officer directly owned 301,185 shares in the company, valued at approximately $43,361,604.45. The trade was a 3.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Alexander Smith sold 19,638 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $150.98, for a total value of $2,964,945.24. Following the completion of the transaction, the insider owned 51,871 shares of the company’s stock, valued at $7,831,483.58. This represents a 27.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 160,482 shares of company stock valued at $24,438,193 over the last 90 days. 2.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Mizuho upped their price target on Insmed from $204.00 to $206.00 and gave the company an “outperform” rating in a research note on Wednesday, March 25th. Roth Mkm reaffirmed a “buy” rating and issued a $212.00 price target on shares of Insmed in a research note on Friday, April 17th. Wells Fargo & Company lowered their price target on Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Morgan Stanley raised Insmed from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $166.00 to $212.00 in a research note on Monday, March 30th. Finally, Leerink Partners upped their price target on Insmed from $210.00 to $215.00 and gave the company an “outperform” rating in a research note on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.50.

About Insmed

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.