EFG Asset Management North America Corp. Sells 13,400 Shares of Insmed, Inc. $INSM

Key Points

• EFG Asset Management North America Corp. reduced its stake in Insmed, Inc. by 12.5%, selling 13,400 shares, and now holds approximately 94,225 shares valued at around $7.18 million.
• Insmed's quarterly earnings revealed a loss of ($1.70) per share, missing estimates, although revenue increased 18.9% year-over-year to $107.42 million.
• Several analysts upgraded Insmed's stock ratings and price targets, with JPMorgan raising its price objective from $111.00 to $135.00, reflecting a strong outlook from the market.

EFG Asset Management North America Corp. trimmed its stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 12.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 94,225 shares of the biopharmaceutical company's stock after selling 13,400 shares during the quarter. Insmed comprises about 1.2% of EFG Asset Management North America Corp.'s portfolio, making the stock its 11th biggest holding. EFG Asset Management North America Corp. owned approximately 0.05% of Insmed worth $7,183,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Insmed by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 18,268,122 shares of the biopharmaceutical company's stock valued at $1,393,675,000 after acquiring an additional 49,149 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Insmed by 1.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,923,541 shares of the biopharmaceutical company's stock valued at $985,938,000 after acquiring an additional 219,131 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in shares of Insmed by 109.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 3,446,944 shares of the biopharmaceutical company's stock valued at $262,967,000 after acquiring an additional 1,799,382 shares during the period. Alliancebernstein L.P. lifted its position in shares of Insmed by 2.5% during the 1st quarter. Alliancebernstein L.P. now owns 2,423,513 shares of the biopharmaceutical company's stock valued at $184,890,000 after acquiring an additional 59,952 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Insmed by 3.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,602,655 shares of the biopharmaceutical company's stock valued at $122,267,000 after acquiring an additional 56,048 shares during the period.

Analyst Ratings Changes

INSM has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their price target on Insmed from $121.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. JPMorgan Chase & Co. boosted their price target on Insmed from $111.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Jefferies Financial Group boosted their price target on Insmed from $129.00 to $148.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Bank of America boosted their price target on Insmed from $94.00 to $109.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Finally, Leerink Partners boosted their price target on Insmed from $100.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Sixteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $139.86.

Insmed Trading Up 1.0%

NASDAQ INSM traded up $1.49 during trading hours on Tuesday, hitting $148.17. 777,950 shares of the company's stock were exchanged, compared to its average volume of 2,784,435. The stock has a 50-day simple moving average of $115.56 and a 200 day simple moving average of $90.20. Insmed, Inc. has a 1-year low of $60.40 and a 1-year high of $148.11. The firm has a market cap of $31.32 billion, a price-to-earnings ratio of -25.95 and a beta of 0.96. 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 (NASDAQ:INSM - Get Free Report) last released its 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). Insmed had a negative return on equity of 195.37% and a negative net margin of 259.82%.The business had revenue of $107.42 million for the quarter, compared to analyst estimates of $104.06 million. During the same period in the prior year, the business earned ($1.94) EPS. The company's revenue for the quarter was up 18.9% on a year-over-year basis. Insmed has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Insider Buying and Selling at Insmed

In other Insmed news, insider Michael Alexander Smith sold 24,272 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $143.89, for a total value of $3,492,498.08. Following the transaction, the insider owned 54,902 shares in the company, valued at approximately $7,899,848.78. This represents a 30.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Roger Adsett sold 25,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer owned 105,637 shares in the company, valued at approximately $13,477,168.46. The trade was a 19.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,554 shares of company stock valued at $49,433,687 over the last ninety days. Insiders own 3.00% of the company's stock.

Insmed 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.