Forsta AP Fonden Makes New $7.85 Million Investment in Insmed, Inc. $INSM

Key Points

• Forsta AP Fonden opened a new position in Insmed during the fourth quarter, buying 45,100 shares valued at about $7.85 million.
• Institutional interest in Insmed appears strong, with several other hedge funds also adding stakes; notably, Norges Bank took a new position worth about $506.6 million.
• Insmed’s latest earnings topped expectations, with quarterly EPS of ($0.76) versus estimates of ($0.90) and revenue of $305.96 million, up 229.7% year over year, even as insiders continued to sell shares.

Forsta AP Fonden purchased a new position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 45,100 shares of the biopharmaceutical company's stock, valued at approximately $7,849,000.

Several other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Insmed during the 4th quarter worth about $506,625,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Insmed in the fourth quarter worth approximately $2,431,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Insmed in the fourth quarter worth approximately $1,942,000. National Pension Service acquired a new stake in shares of Insmed in the fourth quarter worth approximately $48,808,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Insmed by 277.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 430 shares of the biopharmaceutical company's stock worth $75,000 after acquiring an additional 316 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on INSM shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Insmed in a research report on Tuesday, April 21st. HC Wainwright reissued a "buy" rating on shares of Insmed in a research report on Friday, May 8th. Guggenheim decreased their target price on shares of Insmed from $230.00 to $226.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Wells Fargo & Company decreased their target price on shares of Insmed from $177.00 to $160.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. Finally, Stifel Nicolaus raised their target price on shares of Insmed from $205.00 to $208.00 and gave the stock a "buy" rating in a research report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $210.95.

Insider Activity

In other news, insider Michael Alexander Smith sold 6,149 shares of Insmed stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $108.47, for a total transaction of $666,982.03. Following the sale, the insider owned 41,613 shares in the company, valued at $4,513,762.11. This trade represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 88,060 shares of Insmed stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total transaction of $14,497,317.80. Following the sale, the chief operating officer owned 106,810 shares in the company, valued at $17,584,130.30. This represents a 45.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 156,643 shares of company stock worth $24,513,766 over the last 90 days. Company insiders own 2.10% of the company's stock.

Insmed Trading Down 0.8%

NASDAQ INSM opened at $106.03 on Tuesday. Insmed, Inc. has a one year low of $69.59 and a one year high of $212.75. The company's 50 day moving average price is $133.66 and its 200 day moving average price is $157.25. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. The firm has a market capitalization of $22.98 billion, a price-to-earnings ratio of -18.44 and a beta of 0.79.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. The firm had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. Insmed's revenue for the quarter was up 229.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.42) earnings per share. On average, sell-side analysts predict that Insmed, Inc. will post -2.52 EPS for the current year.

Insmed Company 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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