68,489 Shares in Insmed, Inc. $INSM Bought by Lansforsakringar Fondforvaltning AB publ

Key Points

• Lansforsakringar Fondforvaltning AB bought 68,489 shares of Insmed in the first quarter, a position valued at about $11.2 million.
• Insmed continues to attract major institutional interest, with firms like Vanguard, State Street, RTW Investments, and Norges Bank holding or adding sizable stakes.
• Insider activity has included recent stock sales by CEO William Lewis and CFO Sara Bonstein, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $211.86.

Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 68,489 shares of the biopharmaceutical company's stock, valued at approximately $11,199,000.

Several other institutional investors have also bought and sold shares of INSM. Norges Bank bought a new stake in shares of Insmed in the 4th quarter worth about $506,625,000. RTW Investments LP grew its position in Insmed by 57.0% in the fourth quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company's stock worth $842,855,000 after acquiring an additional 1,758,321 shares in the last quarter. Orbis Allan Gray Ltd purchased a new position in Insmed in the second quarter worth about $153,389,000. State Street Corp increased its stake in Insmed by 30.6% during the fourth quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company's stock worth $905,312,000 after acquiring an additional 1,217,390 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Insmed by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company's stock worth $3,668,127,000 after acquiring an additional 1,140,524 shares during the last quarter.

Insider Activity at Insmed

In related news, CEO William Lewis sold 21,398 shares of Insmed stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $103.32, for a total transaction of $2,210,841.36. Following the completion of the sale, the chief executive officer owned 258,917 shares in the company, valued at $26,751,304.44. This trade represents a 7.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sara Bonstein sold 2,404 shares of the business's stock in a transaction dated Wednesday, June 3rd. The shares were 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 directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 65,289 shares of company stock worth $7,824,301. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on INSM shares. Roth Mkm reaffirmed a "buy" rating on shares of Insmed in a research note on Monday, June 8th. JPMorgan Chase & Co. decreased their price target on Insmed from $180.00 to $179.00 and set an "overweight" rating on the stock in a report on Monday, June 8th. HC Wainwright reaffirmed a "buy" rating on shares of Insmed in a research note on Friday, May 8th. Morgan Stanley upgraded shares of Insmed from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $166.00 to $212.00 in a research report on Monday, March 30th. Finally, Bank of America increased their target price on shares of Insmed from $211.00 to $213.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $211.86.

Insmed Stock Performance

Shares of Insmed stock opened at $107.00 on Thursday. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The stock's fifty day moving average is $110.66 and its two-hundred day moving average is $141.61. Insmed, Inc. has a 52 week low of $90.39 and a 52 week high of $212.75. The company has a market capitalization of $23.19 billion, a PE ratio of -18.61 and a beta of 0.78.

Insmed (NASDAQ:INSM - Get Free Report) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.14. The business had revenue of $305.96 million during the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business's revenue for the quarter was up 229.7% compared to the same quarter last year. During the same period last year, the company earned ($1.42) earnings per share. As a group, analysts expect that Insmed, Inc. will post -2.55 earnings per share 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.