Bank of New York Mellon Corp Purchases 251,141 Shares of Insmed, Inc. $INSM

Key Points

• Bank of New York Mellon increased its Insmed position by 22.1% in the fourth quarter, buying 251,141 additional shares and ending with 1,390,042 shares worth about $241.9 million.
• Insider selling has been notable, with COO Roger Adsett and CEO William Lewis both selling shares recently; insiders sold 145,944 shares worth about $23.0 million over the last quarter.
• Analysts remain broadly bullish on Insmed, with multiple firms raising price targets and the stock carrying a “Moderate Buy” consensus and average target price of $210.95, even after a recent earnings beat and strong revenue growth.

Bank of New York Mellon Corp increased its position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 22.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,390,042 shares of the biopharmaceutical company's stock after purchasing an additional 251,141 shares during the period. Bank of New York Mellon Corp owned about 0.65% of Insmed worth $241,923,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. CIBC Private Wealth Group LLC increased its position in shares of Insmed by 42.1% during the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 53 shares during the period. Kingsview Wealth Management LLC boosted its stake in Insmed by 2.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 2,321 shares of the biopharmaceutical company's stock valued at $334,000 after buying an additional 60 shares in the last quarter. Choreo LLC boosted its stake in Insmed by 2.9% in the 3rd quarter. Choreo LLC now owns 2,319 shares of the biopharmaceutical company's stock valued at $334,000 after buying an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Insmed by 10.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 747 shares of the biopharmaceutical company's stock valued at $130,000 after buying an additional 69 shares in the last quarter. Finally, ORG Partners LLC boosted its stake in Insmed by 12.7% in the 4th quarter. ORG Partners LLC now owns 657 shares of the biopharmaceutical company's stock valued at $114,000 after buying an additional 74 shares in the last quarter.

Insider Activity at Insmed

In related news, COO Roger Adsett sold 88,060 shares of the company's stock in a transaction dated Wednesday, April 1st. The stock was 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 owned 106,810 shares in the company, valued at approximately $17,584,130.30. This represents a 45.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William Lewis sold 10,699 shares of the stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $143.97, for a total value of $1,540,335.03. Following the completion of the sale, the chief executive officer owned 301,185 shares of the company's stock, valued at $43,361,604.45. This trade represents a 3.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 145,944 shares of company stock worth $22,951,391. 2.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on INSM shares. Mizuho boosted their price target on Insmed from $204.00 to $206.00 and gave the company an "outperform" rating in a research note on Wednesday, March 25th. Roth Mkm reissued a "buy" rating and issued a $212.00 price objective on shares of Insmed in a research note on Friday, April 17th. Weiss Ratings reissued a "sell (d-)" rating on shares of Insmed in a research note on Tuesday, April 21st. Raymond James Financial initiated coverage on Insmed in a research note on Friday, April 10th. They issued an "outperform" rating and a $200.00 price objective on the stock. Finally, Bank of America boosted their price objective on Insmed from $211.00 to $213.00 and gave the stock a "buy" rating in a research note on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $210.95.

Insmed Trading Up 1.0%

Shares of INSM opened at $104.92 on Friday. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. Insmed, Inc. has a 12-month low of $70.57 and a 12-month high of $212.75. The firm has a market capitalization of $22.74 billion, a PE ratio of -18.25 and a beta of 0.79. The stock's fifty day simple moving average is $131.53 and its 200-day simple moving average is $155.38.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.14. The business had revenue of $305.96 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 229.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.42) earnings per share. As a group, research analysts predict that Insmed, Inc. will post -2.56 earnings per share for the current year.

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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