Insmed, Inc. $INSM Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of Insmed, Inc. (NASDAQ:INSM) by 9.2% in the 1st quarter, Holdings Channel reports. The firm owned 1,262,749 shares of the biopharmaceutical company’s stock after selling 127,293 shares during the quarter. Bank of New York Mellon Corp’s holdings in Insmed were worth $206,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. CoreCap Advisors LLC bought a new position in shares of Insmed in the 4th quarter worth about $27,000. Reflection Asset Management bought a new stake in shares of Insmed during the 4th quarter valued at about $30,000. GraniteShares Advisors LLC bought a new stake in shares of Insmed during the 4th quarter valued at about $30,000. CIBC Private Wealth Group LLC raised its stake in Insmed by 42.1% during 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 during the period. Finally, Raiffeisen Bank International AG acquired a new stake in Insmed during the fourth quarter worth about $32,000.

Wall Street Analyst Weigh In

A number of brokerages have commented on INSM. HC Wainwright restated a “buy” rating on shares of Insmed in a research note on Friday, May 8th. 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 report on Wednesday, May 13th. Roth Capital reissued a “buy” rating on shares of Insmed in a report on Monday, June 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a report on Tuesday, April 21st. Finally, Royal Bank Of Canada reduced their price objective on Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.05.

Insmed Price Performance

NASDAQ INSM opened at $108.32 on Friday. Insmed, Inc. has a 52 week low of $90.39 and a 52 week high of $212.75. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The stock has a market cap of $23.48 billion, a price-to-earnings ratio of -18.84 and a beta of 0.78. The company has a 50-day moving average price of $105.72 and a two-hundred day moving average price of $135.91.

Insmed (NASDAQ:INSM) last announced 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 company had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. Insmed’s revenue was up 229.7% compared to the same quarter last year. During the same quarter last year, the business earned ($1.42) earnings per share. Analysts forecast that Insmed, Inc. will post -2.43 EPS for the current year.

Insiders Place Their Bets

In related news, CEO William Lewis sold 10,699 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $117.40, for a total value of $1,256,062.60. Following the sale, the chief executive officer directly owned 259,058 shares in the company, valued at $30,413,409.20. This trade represents a 3.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Alexander Smith sold 1,806 shares of Insmed stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $95.82, for a total value of $173,050.92. Following the sale, the insider directly owned 37,648 shares in the company, valued at $3,607,431.36. The trade was a 4.58% 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. Insiders have sold 54,590 shares of company stock valued at $5,793,738 in the last quarter. 2.10% of the stock is owned by insiders.

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.