BI Asset Management Fondsmaeglerselskab A S Cuts Holdings in Insmed, Inc. $INSM

BI Asset Management Fondsmaeglerselskab A S lessened its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 18.4% during the 4th quarter, Holdings Channel reports. The fund owned 30,527 shares of the biopharmaceutical company’s stock after selling 6,897 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Insmed were worth $5,313,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in INSM. CIBC Private Wealth Group LLC lifted its stake in shares of Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 53 shares during the last quarter. CoreCap Advisors LLC bought a new position in Insmed in the fourth quarter worth about $27,000. SBI Securities Co. Ltd. lifted its position in shares of Insmed by 404.9% during the third quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 166 shares during the last quarter. GraniteShares Advisors LLC bought a new stake in shares of Insmed in the 4th quarter valued at about $30,000. Finally, RiverPark Advisors LLC bought a new stake in shares of Insmed in the 3rd quarter valued at about $38,000.

Insider Buying and Selling

In other Insmed news, insider Michael Alexander Smith sold 2,159 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $220,800.93. Following the sale, the insider owned 39,454 shares in the company, valued at approximately $4,034,960.58. This represents a 5.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 the firm’s 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 $245,857.08. Following the sale, the chief financial officer directly owned 69,082 shares in the company, valued at $7,065,016.14. The trade was a 3.36% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 160,482 shares of company stock valued at $24,438,193 over the last quarter. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on INSM. Roth Mkm reiterated a “buy” rating and set a $212.00 price objective on shares of Insmed in a research note on Friday, April 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Insmed in a research report on Tuesday, April 21st. Wells Fargo & Company decreased their price objective on Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Raymond James Financial started coverage on Insmed in a research report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price objective for the company. Finally, Truist Financial dropped their target price on Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.50.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $94.22 on Monday. Insmed, Inc. has a twelve month low of $70.57 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 company has a market cap of $20.42 billion, a PE ratio of -16.39 and a beta of 0.79. The company’s 50 day moving average is $130.45 and its 200 day moving average is $154.65.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data 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 business had revenue of $305.96 million during the quarter, compared to analysts’ expectations of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business’s quarterly revenue was up 229.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.42) EPS. On average, sell-side analysts forecast that Insmed, Inc. will post -2.56 EPS for the current year.

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.