Insmed, Inc. $INSM Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S reduced its position in shares of Insmed, Inc. (NASDAQ:INSM) by 56.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,424 shares of the biopharmaceutical company’s stock after selling 47,678 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Insmed were worth $5,389,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of INSM. Norges Bank purchased a new stake in Insmed during the 2nd quarter worth about $194,728,000. Orbis Allan Gray Ltd acquired a new stake in shares of Insmed during the 2nd quarter worth about $153,389,000. Qube Research & Technologies Ltd acquired a new stake in shares of Insmed during the 2nd quarter worth about $108,898,000. HRT Financial LP purchased a new stake in Insmed during the second quarter worth approximately $73,426,000. Finally, Alkeon Capital Management LLC acquired a new position in Insmed in the second quarter valued at approximately $50,320,000.

Insider Buying and Selling

In other news, CEO William Lewis sold 3,009 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $156.34, for a total transaction of $470,427.06. Following the completion of the sale, the chief executive officer owned 303,882 shares in the company, valued at $47,508,911.88. This represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Alexander Smith sold 640 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $156.27, for a total value of $100,012.80. Following the sale, the insider directly owned 56,397 shares of the company’s stock, valued at approximately $8,813,159.19. This represents a 1.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 274,857 shares of company stock valued at $50,121,247 in the last quarter. 3.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on INSM. Citigroup reissued an “outperform” rating on shares of Insmed in a report on Thursday, December 18th. Wolfe Research set a $167.00 target price on shares of Insmed and gave the company an “outperform” rating in a research report on Thursday, December 18th. Guggenheim reduced their price target on shares of Insmed from $230.00 to $221.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. Wells Fargo & Company set a $195.00 price objective on shares of Insmed in a research note on Thursday, December 18th. Finally, Mizuho set a $212.00 target price on Insmed in a research report on Thursday, December 18th. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $203.45.

Insmed Trading Down 0.8%

NASDAQ INSM opened at $149.86 on Friday. The firm’s fifty day moving average is $174.90 and its two-hundred day moving average is $159.93. Insmed, Inc. has a one year low of $60.40 and a one year high of $212.75. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.34 and a current ratio of 4.63. The firm has a market cap of $31.96 billion, a PE ratio of -24.21 and a beta of 1.11.

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.