Swiss Life Asset Management Ltd Grows Stake in Insmed, Inc. $INSM

Swiss Life Asset Management Ltd grew its holdings in Insmed, Inc. (NASDAQ:INSM) by 60.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 14,004 shares of the biopharmaceutical company’s stock after acquiring an additional 5,288 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Insmed were worth $2,437,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in INSM. Vanguard Group Inc. increased its holdings in shares of Insmed by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,935,820 shares of the biopharmaceutical company’s stock valued at $2,870,957,000 after acquiring an additional 2,291,328 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in Insmed by 49.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after buying an additional 1,623,342 shares during the last quarter. Orbis Allan Gray Ltd purchased a new position in Insmed during the 2nd quarter worth approximately $153,389,000. Darwin Global Management Ltd. grew its stake in Insmed by 5.8% during the 3rd quarter. Darwin Global Management Ltd. now owns 20,457,445 shares of the biopharmaceutical company’s stock worth $2,897,797,000 after buying an additional 1,112,824 shares during the last quarter. Finally, Bank of Nova Scotia purchased a new position in Insmed during the 3rd quarter worth approximately $72,904,000.

Insmed Stock Down 2.0%

INSM opened at $115.62 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The business has a 50 day simple moving average of $142.14 and a 200-day simple moving average of $163.64. The stock has a market capitalization of $25.06 billion, a P/E ratio of -20.11 and a beta of 0.89. Insmed, Inc. has a 12 month low of $64.85 and a 12 month high of $212.75.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. The business had revenue of $305.96 million during the quarter, compared to analysts’ expectations of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The company’s quarterly revenue was up 229.7% compared to the same quarter last year. During the same period last year, the firm earned ($1.42) EPS. On average, equities analysts anticipate that Insmed, Inc. will post -2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

INSM has been the topic of a number of research reports. HC Wainwright restated a “buy” rating on shares of Insmed in a research note on Friday, May 8th. Raymond James Financial initiated coverage on Insmed in a research note on Friday, April 10th. They set an “outperform” rating and a $200.00 price target on the stock. Barclays raised their price target on Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 1st. Guggenheim dropped their price target on Insmed from $230.00 to $226.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Truist Financial dropped their price target on Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday. 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’s stock. According to data from MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and a consensus price target of $210.95.

Insider Buying and Selling

In related news, CEO William Lewis sold 10,699 shares of Insmed stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $143.97, for a total transaction of $1,540,335.03. Following the completion of the transaction, the chief executive officer directly owned 301,185 shares of the company’s stock, valued at approximately $43,361,604.45. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 88,060 shares of Insmed stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $164.63, for a total value of $14,497,317.80. Following the transaction, the chief operating officer directly owned 106,810 shares of the company’s stock, valued at approximately $17,584,130.30. This represents a 45.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 161,193 shares of company stock valued at $25,462,012. 2.10% of the stock is owned by 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.