Royal Bank of Canada Has $85.54 Million Position in Insmed, Inc. $INSM

Royal Bank of Canada boosted its holdings in shares of Insmed, Inc. (NASDAQ:INSM) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 523,101 shares of the biopharmaceutical company’s stock after acquiring an additional 16,290 shares during the quarter. Royal Bank of Canada’s holdings in Insmed were worth $85,537,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Insmed in the fourth quarter worth $506,625,000. RTW Investments LP grew its holdings in Insmed by 57.0% in the 4th 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 acquired a new stake in shares of Insmed in the second quarter worth $153,389,000. State Street Corp increased its holdings in shares of Insmed by 30.6% during the 4th quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock worth $905,312,000 after purchasing an additional 1,217,390 shares during the period. Finally, Vanguard Group Inc. increased its stake in Insmed by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company’s stock valued at $3,668,127,000 after acquiring an additional 1,140,524 shares during the period.

Insiders Place Their Bets

In other Insmed news, insider Michael Alexander Smith sold 1,806 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $95.82, for a total transaction of $173,050.92. Following the sale, the insider owned 37,648 shares of the company’s stock, valued at $3,607,431.36. This represents a 4.58% decrease in their position. The sale was disclosed in a legal filing 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, CEO William Lewis sold 10,699 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $117.40, for a total transaction of $1,256,062.60. Following the sale, the chief executive officer directly owned 259,058 shares in the company, valued at approximately $30,413,409.20. This represents a 3.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 54,590 shares of company stock valued at $5,793,738. 2.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

INSM has been the subject of several recent research reports. Truist Financial dropped their price target on shares of Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. 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 objective for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $235.00 price objective on shares of Insmed in a report on Tuesday. Roth Capital restated a “buy” rating on shares of Insmed in a research note on Monday, June 8th. Finally, Mizuho set a $192.00 target price on shares of Insmed in a report on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Insmed has a consensus rating of “Buy” and a consensus price target of $209.35.

Insmed Trading Down 2.8%

INSM stock opened at $98.60 on Friday. The business has a fifty day moving average price of $104.68 and a 200 day moving average price of $131.02. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. Insmed, Inc. has a fifty-two week low of $90.39 and a fifty-two week high of $212.75. The stock has a market capitalization of $21.37 billion, a price-to-earnings ratio of -17.15 and a beta of 0.78.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. The company had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business’s revenue was up 229.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.42) earnings per share. Analysts expect that Insmed, Inc. will post -2.43 EPS for the current fiscal year.

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.