Sumitomo Mitsui Trust Group Inc. Has $81.97 Million Stock Holdings in Insmed, Inc. $INSM

Sumitomo Mitsui Trust Group Inc. raised its stake in Insmed, Inc. (NASDAQ:INSM) by 15.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 501,282 shares of the biopharmaceutical company’s stock after purchasing an additional 65,840 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Insmed worth $81,970,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. CIBC Private Wealth Group LLC boosted its holdings in Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 53 shares in the last quarter. CoreCap Advisors LLC bought a new stake in shares of Insmed during the fourth quarter valued at approximately $27,000. GraniteShares Advisors LLC acquired a new position in shares of Insmed during the fourth quarter worth approximately $30,000. Reflection Asset Management bought a new position in shares of Insmed in the 4th quarter worth $30,000. Finally, Raiffeisen Bank International AG bought a new position in shares of Insmed in the 4th quarter worth $32,000.

Wall Street Analyst Weigh In

A number of analysts have commented on INSM shares. HC Wainwright restated a “buy” rating on shares of Insmed in a research note on Friday, May 8th. Leerink Partners lifted their price objective on shares of Insmed from $210.00 to $215.00 and gave the company an “outperform” rating in a report on Tuesday, March 24th. JPMorgan Chase & Co. lowered their target price on shares of Insmed from $180.00 to $179.00 and set an “overweight” rating on the stock in a report on Monday, June 8th. Morgan Stanley raised shares of Insmed from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $166.00 to $212.00 in a research report on Monday, March 30th. Finally, Mizuho set a $192.00 price objective on Insmed in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $211.00.

Insmed Stock Down 2.2%

NASDAQ:INSM traded down $2.65 on Friday, hitting $115.61. The stock had a trading volume of 2,931,490 shares, compared to its average volume of 4,102,796. Insmed, Inc. has a 1 year low of $90.39 and a 1 year high of $212.75. The firm’s fifty day simple moving average is $107.21 and its two-hundred day simple moving average is $138.27. 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 market cap of $25.06 billion, a P/E ratio of -20.11 and a beta of 0.78.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating 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 company had revenue of $305.96 million during the quarter, compared to the consensus estimate of $300.81 million. During the same period last year, the business posted ($1.42) earnings per share. Insmed’s revenue was up 229.7% on a year-over-year basis. Analysts predict that Insmed, Inc. will post -2.55 earnings per share for the current year.

Insider Activity at Insmed

In related news, CFO Sara Bonstein sold 2,404 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 transaction of $245,857.08. Following the completion of the sale, the chief financial officer owned 69,082 shares in the company, valued at approximately $7,065,016.14. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Roger Adsett sold 2,370 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $242,379.90. Following the completion of the transaction, the chief operating officer owned 98,603 shares in the company, valued at approximately $10,084,128.81. The trade was a 2.35% decrease in their ownership of the stock. 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 65,289 shares of company stock worth $7,334,073 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

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.