15,870 Shares in Insmed, Inc. $INSM Purchased by Allstate Corp

Key Points

• Allstate Corp opened a new position in Insmed during the fourth quarter, buying 15,870 shares valued at about $2.76 million.
• Insmed reported quarterly earnings of ($0.76) per share, beating estimates, while revenue came in at $305.96 million and jumped 229.7% year over year.
• Analysts remain broadly positive on the stock, with a consensus rating of Moderate Buy and an average price target of $210.95, even as insiders have been selling shares recently.

Allstate Corp purchased a new position in Insmed, Inc. (NASDAQ:INSM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 15,870 shares of the biopharmaceutical company's stock, valued at approximately $2,762,000.

Other institutional investors have also recently bought and sold shares of the company. Artisan Partners Limited Partnership increased its stake in Insmed by 49.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company's stock worth $711,076,000 after purchasing an additional 1,623,342 shares in the last quarter. Atika Capital Management LLC purchased a new position in Insmed during the 3rd quarter valued at about $13,681,000. iA Global Asset Management Inc. grew its stake in Insmed by 15,973.5% during the 4th quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company's stock valued at $4,644,000 after acquiring an additional 26,516 shares in the last quarter. Nordea Investment Management AB purchased a new position in Insmed during the 4th quarter valued at about $3,492,000. Finally, Keybank National Association OH grew its stake in Insmed by 76.7% during the 3rd quarter. Keybank National Association OH now owns 16,716 shares of the biopharmaceutical company's stock valued at $2,407,000 after acquiring an additional 7,257 shares in the last quarter.

Insmed Trading Down 2.3%

Shares of NASDAQ INSM opened at $106.40 on Thursday. The stock has a market cap of $23.06 billion, a price-to-earnings ratio of -18.50 and a beta of 0.89. The business has a 50 day simple moving average of $135.85 and a 200 day simple moving average of $159.04. Insmed, Inc. has a 52 week low of $65.56 and a 52 week high of $212.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47.

Insmed (NASDAQ:INSM - Get Free Report) 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 business had revenue of $305.96 million during the quarter, compared to analysts' expectations of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The firm's quarterly revenue was up 229.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.42) EPS. On average, research analysts predict that Insmed, Inc. will post -2.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on INSM shares. Raymond James Financial started coverage on Insmed in a research note on Friday, April 10th. They set an "outperform" rating and a $200.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating on shares of Insmed in a research note on Friday, May 8th. Stifel Nicolaus lifted their target price on Insmed from $205.00 to $208.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. Guggenheim lowered their target price on Insmed from $230.00 to $226.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Finally, Royal Bank Of Canada lowered their target price on Insmed from $220.00 to $205.00 and set an "outperform" rating on the stock in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $210.95.

Insider Buying and Selling

In related news, insider Michael Alexander Smith sold 6,149 shares of the business's 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 completion of the sale, the insider directly owned 41,613 shares in the company, valued at approximately $4,513,762.11. The trade was a 12.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 88,060 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were 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 represents a 45.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 156,643 shares of company stock worth $24,513,766. 2.10% of the stock is currently 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.

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