Bank of New York Mellon Corp Acquires 251,141 Shares of Insmed, Inc. $INSM

Bank of New York Mellon Corp lifted its position in shares of Insmed, Inc. (NASDAQ:INSM) by 22.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,390,042 shares of the biopharmaceutical company’s stock after purchasing an additional 251,141 shares during the quarter. Bank of New York Mellon Corp’s holdings in Insmed were worth $241,923,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. CIBC Private Wealth Group LLC boosted its position in shares of 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 buying an additional 53 shares during the period. Kingsview Wealth Management LLC boosted its position in shares of Insmed by 2.7% during the third quarter. Kingsview Wealth Management LLC now owns 2,321 shares of the biopharmaceutical company’s stock worth $334,000 after buying an additional 60 shares during the period. Choreo LLC boosted its position in shares of Insmed by 2.9% during the third quarter. Choreo LLC now owns 2,319 shares of the biopharmaceutical company’s stock worth $334,000 after buying an additional 65 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Insmed by 10.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 747 shares of the biopharmaceutical company’s stock worth $130,000 after buying an additional 69 shares during the period. Finally, ORG Partners LLC boosted its position in shares of Insmed by 12.7% during the fourth quarter. ORG Partners LLC now owns 657 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 74 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Stifel Nicolaus upped their price objective on Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Morgan Stanley raised Insmed from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $166.00 to $212.00 in a research report on Monday, March 30th. Truist Financial reduced their price target on Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Roth Mkm reissued a “buy” rating and set a $212.00 price target on shares of Insmed in a research report on Friday, April 17th. Finally, Bank of America increased their price target on Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $210.95.

Insmed Stock Performance

INSM opened at $104.92 on Friday. Insmed, Inc. has a 12-month low of $70.57 and a 12-month high of $212.75. The stock has a market cap of $22.74 billion, a price-to-earnings ratio of -18.25 and a beta of 0.79. The business has a 50 day moving average of $131.53 and a 200-day moving average of $155.38. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80.

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, beating analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The company had revenue of $305.96 million during the quarter, compared to analysts’ expectations of $300.81 million. During the same period last year, the firm posted ($1.42) earnings per share. The business’s revenue was up 229.7% on a year-over-year basis. On average, equities research analysts expect that Insmed, Inc. will post -2.56 earnings per share for the current year.

Insider Activity

In other news, COO Roger Adsett sold 88,060 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer directly owned 106,810 shares of the company’s stock, valued at $17,584,130.30. This trade represents a 45.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael Alexander Smith sold 6,149 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $108.47, for a total value of $666,982.03. Following the transaction, the insider owned 41,613 shares in the company, valued at approximately $4,513,762.11. This trade represents a 12.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 145,944 shares of company stock valued at $22,951,391 over the last three months. Insiders own 2.10% of the company’s stock.

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.