Bayforest Capital Ltd Acquires 5,067 Shares of Insmed, Inc. (NASDAQ:INSM)

Key Points

• Bayforest Capital Ltd increased its stake in Insmed, Inc. by 255.0% during the first quarter, owning 7,054 shares now valued at approximately $538,000.
• Despite reporting a loss of ($1.42) earnings per share, Insmed's revenue for the quarter was up 22.9% year-over-year, totaling $92.82 million.
• Wall Street analysts currently have a consensus rating of "Moderate Buy" for Insmed, with an average target price set at $109.20.

Bayforest Capital Ltd grew its position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 255.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,054 shares of the biopharmaceutical company's stock after purchasing an additional 5,067 shares during the period. Bayforest Capital Ltd's holdings in Insmed were worth $538,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI grew its position in shares of Insmed by 9.7% during the fourth quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company's stock valued at $115,000 after purchasing an additional 147 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of Insmed by 4.7% in the 1st quarter. M&T Bank Corp now owns 3,293 shares of the biopharmaceutical company's stock valued at $252,000 after acquiring an additional 147 shares during the last quarter. Snowden Capital Advisors LLC lifted its holdings in shares of Insmed by 2.5% in the 4th quarter. Snowden Capital Advisors LLC now owns 6,602 shares of the biopharmaceutical company's stock valued at $456,000 after acquiring an additional 158 shares during the last quarter. Cullen Frost Bankers Inc. lifted its holdings in shares of Insmed by 164.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 221 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Insmed by 6.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,761 shares of the biopharmaceutical company's stock valued at $287,000 after acquiring an additional 228 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages recently commented on INSM. Jefferies Financial Group reaffirmed a "buy" rating on shares of Insmed in a report on Tuesday, June 10th. UBS Group lowered their price target on shares of Insmed from $110.00 to $109.00 and set a "buy" rating for the company in a report on Friday, May 9th. Bank of America increased their price target on shares of Insmed from $94.00 to $109.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Citigroup raised shares of Insmed to a "buy" rating in a report on Tuesday, June 10th. Finally, Mizuho increased their price target on shares of Insmed from $96.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. One analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $109.20.

Insmed Trading Up 0.7%

Shares of Insmed stock traded up $0.73 on Monday, hitting $109.42. 974,208 shares of the company traded hands, compared to its average volume of 2,749,914. The stock's 50 day moving average price is $94.41 and its 200-day moving average price is $81.12. The company has a current ratio of 5.86, a quick ratio of 5.44 and a debt-to-equity ratio of 11.38. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $109.82. The company has a market cap of $20.76 billion, a PE ratio of -18.41 and a beta of 0.95.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative net margin of 265.93% and a negative return on equity of 446.98%. The company had revenue of $92.82 million for the quarter, compared to the consensus estimate of $91.63 million. During the same period in the prior year, the firm posted ($1.06) EPS. The business's revenue was up 22.9% on a year-over-year basis. Equities research analysts predict that Insmed, Inc. will post -4.56 EPS for the current year.

Insider Activity at Insmed

In related news, CEO William Lewis sold 6,830 shares of Insmed stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $102.37, for a total transaction of $699,187.10. Following the transaction, the chief executive officer directly owned 233,924 shares of the company's stock, valued at $23,946,799.88. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael Alexander Smith sold 933 shares of Insmed stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $102.51, for a total transaction of $95,641.83. Following the transaction, the insider directly owned 66,394 shares in the company, valued at approximately $6,806,048.94. The trade was a 1.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 599,767 shares of company stock worth $54,625,108. Insiders own 3.00% of the company's stock.

Insmed Company Profile

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed's first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.