Bank of New York Mellon Corp Makes New $139.97 Million Investment in Insmed, Inc. $INSM

Key Points

• Bank of New York Mellon acquired 1.31 million Insmed shares worth approximately $139.97 million, representing about 0.61% of the biopharmaceutical company.
• Insmed reported a quarterly loss of $0.06 per share, beating expectations of a $0.67 loss, while revenue surged 296.1% year over year to $425.49 million.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and average price target of $205.52; however, Insmed insiders sold 288,291 shares worth about $37.1 million over the past 90 days.

Bank of New York Mellon Corp acquired a new stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,312,756 shares of the biopharmaceutical company's stock, valued at approximately $139,966,000. Bank of New York Mellon Corp owned approximately 0.61% of Insmed at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of INSM. Reflection Asset Management acquired a new stake in shares of Insmed in the fourth quarter valued at approximately $30,000. CIBC Private Wealth Group LLC lifted its position in 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 buying an additional 53 shares in the last quarter. Raiffeisen Bank International AG bought a new position in shares of Insmed in the 4th quarter valued at about $32,000. Larson Financial Group LLC grew its holdings in shares of Insmed by 137.0% in the 4th quarter. Larson Financial Group LLC now owns 256 shares of the biopharmaceutical company's stock valued at $45,000 after acquiring an additional 148 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Insmed in the fourth quarter valued at about $49,000.

Insmed Stock Performance

NASDAQ INSM opened at $125.77 on Monday. The stock has a market cap of $27.47 billion, a PE ratio of -30.60 and a beta of 0.81. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.40 and a current ratio of 3.72. The firm has a 50-day moving average of $111.05 and a 200-day moving average of $126.93. Insmed, Inc. has a 52-week low of $90.39 and a 52-week high of $212.75.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.61. Insmed had a negative net margin of 76.94% and a negative return on equity of 123.94%. The firm had revenue of $425.49 million for the quarter, compared to analysts' expectations of $395.50 million. During the same period in the prior year, the firm earned ($1.70) EPS. The business's revenue was up 296.1% on a year-over-year basis. On average, sell-side analysts anticipate that Insmed, Inc. will post -1.83 EPS for the current year.

Insider Transactions at Insmed

In other Insmed news, COO Roger Adsett sold 239,850 shares of the company's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $133.27, for a total value of $31,964,809.50. Following the transaction, the chief operating officer directly owned 98,744 shares of the company's stock, valued at $13,159,612.88. This represents a 70.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William Lewis sold 21,398 shares of the company's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $103.32, for a total value of $2,210,841.36. Following the completion of the transaction, the chief executive officer directly owned 258,917 shares in the company, valued at approximately $26,751,304.44. This represents a 7.63% decrease in their ownership of the stock. 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 have sold a total of 288,291 shares of company stock worth $37,091,566 in the last ninety days. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on INSM. Jefferies Financial Group reaffirmed a "buy" rating and set a $175.00 price target on shares of Insmed in a research report on Thursday, August 6th. Royal Bank Of Canada cut their price objective on Insmed from $205.00 to $195.00 and set an "outperform" rating for the company in a report on Friday, June 5th. BMO Capital Markets assumed coverage on shares of Insmed in a research note on Monday, July 20th. They issued an "outperform" rating and a $192.00 target price for the company. Cantor Fitzgerald restated an "overweight" rating and set a $235.00 target price on shares of Insmed in a report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. cut their price target on shares of Insmed from $179.00 to $175.00 and set an "overweight" rating for the company in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $205.52.

Insmed 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.

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