Insmed, Inc. $INSM Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp raised its holdings in Insmed, Inc. (NASDAQ:INSM) by 4,983.8% during the first quarter, Holdings Channel.com reports. The firm owned 18,200 shares of the biopharmaceutical company’s stock after purchasing an additional 17,842 shares during the quarter. Fifth Third Bancorp’s holdings in Insmed were worth $2,976,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Insmed during the 4th quarter worth approximately $506,625,000. RTW Investments LP raised its holdings in Insmed by 57.0% during the fourth quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company’s stock worth $842,855,000 after purchasing an additional 1,758,321 shares during the last quarter. Orbis Allan Gray Ltd purchased a new stake in Insmed during the second quarter worth $153,389,000. State Street Corp grew its holdings in Insmed by 30.6% in the fourth quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock valued at $905,312,000 after purchasing an additional 1,217,390 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Insmed by 5.7% in 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 buying an additional 1,140,524 shares in the last quarter.

Insiders Place Their Bets

In other Insmed news, COO Roger Adsett sold 2,370 shares of Insmed stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $242,379.90. Following the sale, the chief operating officer directly owned 98,603 shares in the company, valued at $10,084,128.81. The trade was a 2.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sara Bonstein sold 2,404 shares of Insmed stock in a transaction on Wednesday, June 3rd. The stock was 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 of the company’s stock, valued at approximately $7,065,016.14. This trade represents a 3.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 54,590 shares of company stock valued at $5,793,738 over the last ninety days. Insiders own 2.10% of the company’s stock.

Insmed Price Performance

Shares of Insmed stock opened at $107.02 on Tuesday. The business’s fifty day moving average price is $105.79 and its 200 day moving average price is $135.16. Insmed, Inc. has a twelve month low of $90.39 and a twelve month 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 capitalization of $23.20 billion, a P/E ratio of -18.61 and a beta of 0.78.

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

Analyst Ratings Changes

INSM has been the subject of a number of recent research reports. Royal Bank Of Canada dropped their price objective on shares of Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Insmed in a report on Tuesday, April 21st. JPMorgan Chase & Co. dropped their price target on Insmed from $180.00 to $179.00 and set an “overweight” rating for the company in a research report on Monday, June 8th. Bank of America boosted their price target on Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Finally, Mizuho set a $192.00 price objective on Insmed in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $209.13.

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.