BI Asset Management Fondsmaeglerselskab A S Cuts Stock Position in Insmed, Inc. $INSM

Key Points

• BI Asset Management Fondsmaeglerselskab A S significantly reduced its holdings in Insmed, Inc. by 95.4%, selling 29,932 shares and leaving them with just 1,458 shares valued at $111,000.
• Multiple analysts have raised their price targets for Insmed, with Mizuho setting a new target of $165.00 and Jefferies raising theirs to $148.00, reflecting positive sentiment towards the company's performance.
• Insmed reported revenue of $107.42 million for the last quarter but missed earnings estimates, indicating ongoing financial challenges despite a year-over-year revenue increase of 18.9%.

BI Asset Management Fondsmaeglerselskab A S lessened its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 95.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,458 shares of the biopharmaceutical company's stock after selling 29,932 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Insmed were worth $111,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. 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 worth $27,000 after acquiring an additional 221 shares during the last quarter. Elequin Capital LP bought a new stake in shares of Insmed in the 4th quarter worth about $28,000. NBC Securities Inc. bought a new stake in shares of Insmed in the 1st quarter worth about $49,000. Versant Capital Management Inc lifted its position in shares of Insmed by 546.3% during the first quarter. Versant Capital Management Inc now owns 698 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 590 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Insmed by 60.0% during the first quarter. Signaturefd LLC now owns 867 shares of the biopharmaceutical company's stock worth $66,000 after purchasing an additional 325 shares during the last quarter.

Insider Buying and Selling

In other Insmed news, COO Roger Adsett sold 25,000 shares of Insmed stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $127.58, for a total value of $3,189,500.00. Following the transaction, the chief operating officer owned 105,637 shares in the company, valued at $13,477,168.46. The trade was a 19.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Melvin Md Sharoky sold 10,000 shares of Insmed stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $129.50, for a total value of $1,295,000.00. Following the completion of the transaction, the director owned 274,516 shares in the company, valued at $35,549,822. This trade represents a 3.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 539,694 shares of company stock valued at $53,144,604 over the last three months. Corporate insiders own 3.00% of the company's stock.

Insmed Stock Up 1.8%

Shares of Insmed stock traded up $2.36 during trading on Wednesday, hitting $134.53. 2,025,015 shares of the stock traded hands, compared to its average volume of 3,248,110. The firm has a market cap of $28.44 billion, a P/E ratio of -23.56 and a beta of 0.95. The company has a current ratio of 6.68, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45. Insmed, Inc. has a 52-week low of $60.40 and a 52-week high of $134.74. The stock's fifty day simple moving average is $109.35 and its 200 day simple moving average is $86.71.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.30) by ($0.40). The firm had revenue of $107.42 million for the quarter, compared to analysts' expectations of $104.06 million. Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The business's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.94) EPS. Insmed has set its FY 2025 guidance at EPS. On average, equities analysts predict that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on INSM. Royal Bank Of Canada lifted their target price on Insmed from $108.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Morgan Stanley lifted their target price on Insmed from $126.00 to $144.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 21st. Leerink Partners lifted their target price on Insmed from $100.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. The Goldman Sachs Group lifted their target price on Insmed from $114.00 to $142.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Finally, Wells Fargo & Company lifted their target price on Insmed from $130.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 12th. Sixteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Insmed currently has an average rating of "Moderate Buy" and an average target price of $132.57.

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.