Gulf International Bank UK Ltd Makes New $1.92 Million Investment in Insmed, Inc. $INSM

Key Points

• Gulf International Bank UK Ltd opened a new position in Insmed during the fourth quarter, buying 11,033 shares worth about $1.92 million.
• Analysts remain broadly positive on Insmed, with an average rating of “Moderate Buy” and a consensus price target of $210.95, despite some recent target cuts.
• Insmed reported quarterly earnings that beat expectations, posting a smaller-than-expected loss and revenue of $305.96 million, up 229.7% year over year.

Gulf International Bank UK Ltd bought a new position in Insmed, Inc. (NASDAQ:INSM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,033 shares of the biopharmaceutical company's stock, valued at approximately $1,920,000.

Several other hedge funds have also added to or reduced their stakes in INSM. EverSource Wealth Advisors LLC boosted its holdings in Insmed by 65.6% in the second quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company's stock worth $67,000 after acquiring an additional 263 shares in the last quarter. First Trust Advisors LP boosted its holdings in Insmed by 80.8% in the second quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company's stock worth $4,770,000 after acquiring an additional 21,176 shares in the last quarter. Baird Financial Group Inc. bought a new stake in Insmed in the second quarter worth $2,589,000. Amundi boosted its holdings in Insmed by 21,194.4% in the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company's stock worth $1,130,000 after acquiring an additional 11,445 shares in the last quarter. Finally, Natixis bought a new stake in Insmed in the second quarter worth $1,072,000.

Analysts Set New Price Targets

INSM has been the topic of several analyst reports. Raymond James Financial initiated coverage on Insmed in a report on Friday, April 10th. They issued an "outperform" rating and a $200.00 target price on the stock. Guggenheim decreased their price target on Insmed from $230.00 to $226.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Roth Mkm restated a "buy" rating and issued a $212.00 price target on shares of Insmed in a research note on Friday, April 17th. Barclays boosted their price target on Insmed from $231.00 to $237.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 1st. Finally, Royal Bank Of Canada decreased their price target on Insmed from $220.00 to $205.00 and set an "outperform" rating for the company in a research note on Friday, May 8th. 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. Based on data from MarketBeat, Insmed presently has an average rating of "Moderate Buy" and a consensus target price of $210.95.

Insmed Stock Down 1.3%

INSM stock opened at $106.91 on Friday. The stock has a market capitalization of $23.17 billion, a P/E ratio of -18.59 and a beta of 0.89. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. Insmed, Inc. has a 1-year low of $65.56 and a 1-year high of $212.75. The business has a fifty day moving average price of $134.42 and a 200-day moving average price of $158.11.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating analysts' consensus estimates of ($0.90) by $0.14. The company had revenue of $305.96 million during the quarter, compared to analysts' expectations of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.Insmed's revenue for the quarter was up 229.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.42) earnings per share. Equities analysts forecast that Insmed, Inc. will post -2.52 earnings per share for the current fiscal year.

Insider Activity at Insmed

In related news, CEO William Lewis sold 10,699 shares of the company's stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $143.97, for a total transaction of $1,540,335.03. Following the completion of the sale, the chief executive officer owned 301,185 shares in the company, valued at approximately $43,361,604.45. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Alexander Smith sold 6,149 shares of the company's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $108.47, for a total value of $666,982.03. Following the sale, the insider owned 41,613 shares of the company's stock, valued at approximately $4,513,762.11. This trade represents a 12.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 156,643 shares of company stock worth $24,513,766. 2.10% of the stock is owned by insiders.

About Insmed

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.