Amundi Sells 112,021 Shares of Insmed, Inc. $INSM

Key Points

• Amundi reduced its Insmed stake by 12.2%, selling 112,021 shares during the first quarter and retaining 804,977 shares valued at approximately $131.6 million. Other major institutions, including Vanguard, State Street and RTW Investments, increased their holdings.
• Analysts remain broadly bullish, with a consensus rating of “Buy” and an average price target of $209.35. Individual targets range from $161 to $220, although Truist Financial lowered its target from $205 to $185.
• Insmed reported quarterly revenue of $305.96 million, up 229.7% year over year, and an adjusted loss of $0.76 per share that beat expectations. The stock opened at $98.60, near its 52-week low of $90.39 and well below its 52-week high of $212.75.

Amundi cut its stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 12.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 804,977 shares of the biopharmaceutical company's stock after selling 112,021 shares during the period. Amundi owned 0.37% of Insmed worth $131,630,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Norges Bank bought a new stake in Insmed during the fourth quarter worth $506,625,000. RTW Investments LP increased its stake in shares of Insmed by 57.0% during the 4th 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 acquired a new position in shares of Insmed during the 2nd quarter worth about $153,389,000. State Street Corp lifted its stake in Insmed by 30.6% in the 4th 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. lifted its stake in Insmed by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company's stock valued at $3,668,127,000 after purchasing an additional 1,140,524 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have weighed in on INSM. Truist Financial lowered their price target on Insmed from $205.00 to $185.00 and set a "buy" rating on the stock in a research report on Wednesday, May 13th. Wells Fargo & Company boosted their target price on Insmed from $160.00 to $161.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Mizuho set a $192.00 price target on Insmed in a report on Tuesday, June 16th. Roth Capital reaffirmed a "buy" rating on shares of Insmed in a research report on Monday, June 8th. Finally, HC Wainwright reiterated a "buy" rating and issued a $220.00 price objective on shares of Insmed in a report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $209.35.

Insmed Price Performance

NASDAQ:INSM opened at $98.60 on Friday. Insmed, Inc. has a 52 week low of $90.39 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. The firm's 50-day simple moving average is $104.68 and its 200 day simple moving average is $131.02. The firm has a market cap of $21.37 billion, a price-to-earnings ratio of -17.15 and a beta of 0.78.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.90) by $0.14. The firm had revenue of $305.96 million for the quarter, compared to analyst estimates 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 revenue was up 229.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.42) EPS. As a group, sell-side analysts predict that Insmed, Inc. will post -2.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Michael Alexander Smith sold 1,806 shares of the business's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $95.82, for a total transaction of $173,050.92. Following the sale, the insider directly owned 37,648 shares in the company, valued at approximately $3,607,431.36. The trade was a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 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 ownership of the stock. 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. Company insiders own 2.10% of the company's stock.

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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