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Federated Hermes Inc. Lowers Holdings in Insmed, Inc. (NASDAQ:INSM)

Insmed logo with Medical background

Key Points

  • Federated Hermes Inc. reduced its stake in Insmed, Inc. by 18.3%, now owning approximately $14.70 million worth of shares.
  • Insmed reported a quarterly loss of ($1.42) EPS, missing analyst expectations, but revenue increased by 22.9% year-over-year.
  • Several hedge funds, including Darwin Global Management and Price T Rowe Associates, increased their stakes in Insmed, reflecting continued institutional interest.
  • Interested in Insmed? Here are five stocks we like better.

Federated Hermes Inc. lessened its holdings in Insmed, Inc. (NASDAQ:INSM - Free Report) by 18.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,643 shares of the biopharmaceutical company's stock after selling 43,193 shares during the quarter. Federated Hermes Inc. owned 0.11% of Insmed worth $14,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management grew its stake in Insmed by 1.8% in the 1st quarter. Picton Mahoney Asset Management now owns 49,784 shares of the biopharmaceutical company's stock valued at $3,798,000 after buying an additional 887 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Insmed by 20.4% in the first quarter. Mackenzie Financial Corp now owns 13,103 shares of the biopharmaceutical company's stock valued at $1,000,000 after purchasing an additional 2,220 shares in the last quarter. LPL Financial LLC grew its position in shares of Insmed by 56.3% in the first quarter. LPL Financial LLC now owns 51,213 shares of the biopharmaceutical company's stock valued at $3,907,000 after purchasing an additional 18,456 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Insmed by 31.8% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 27,789 shares of the biopharmaceutical company's stock valued at $2,120,000 after purchasing an additional 6,705 shares during the period. Finally, Neo Ivy Capital Management purchased a new stake in Insmed during the 1st quarter worth about $340,000.

Insider Buying and Selling

In related news, CFO Sara Bonstein sold 58,400 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $102.67, for a total transaction of $5,995,928.00. Following the transaction, the chief financial officer directly owned 73,505 shares in the company, valued at $7,546,758.35. This trade represents a 44.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total value of $9,264,648.24. Following the transaction, the insider owned 89,407 shares in the company, valued at approximately $8,352,401.94. The trade was a 52.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 599,767 shares of company stock valued at $54,625,108 in the last 90 days. 3.00% of the stock is owned by insiders.

Insmed Trading Up 2.3%

Insmed stock traded up $2.55 during mid-day trading on Monday, hitting $111.24. The company's stock had a trading volume of 2,247,339 shares, compared to its average volume of 2,444,504. The business has a 50 day moving average price of $95.28 and a 200-day moving average price of $81.45. The company has a debt-to-equity ratio of 11.38, a current ratio of 5.86 and a quick ratio of 5.44. Insmed, Inc. has a 12 month low of $60.40 and a 12 month high of $111.28. The stock has a market cap of $21.10 billion, a price-to-earnings ratio of -18.70 and a beta of 0.95.

Insmed (NASDAQ:INSM - Get Free Report) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $91.63 million. During the same period last year, the firm posted ($1.06) EPS. The company's revenue was up 22.9% on a year-over-year basis. As a group, analysts forecast that Insmed, Inc. will post -4.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INSM. Citigroup raised Insmed to a "buy" rating 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 on the stock in a report on Friday, May 9th. Jefferies Financial Group reissued a "buy" rating on shares of Insmed in a report on Tuesday, June 10th. Wells Fargo & Company increased their price target on shares of Insmed from $119.00 to $130.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Finally, Bank of America increased their price target on shares of Insmed from $94.00 to $109.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $109.20.

Read Our Latest Stock Analysis on Insmed

Insmed Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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