Handelsbanken Fonder AB Raises Position in Insmed, Inc. (NASDAQ:INSM)

Handelsbanken Fonder AB lifted its stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,181 shares of the biopharmaceutical company's stock after purchasing an additional 3,900 shares during the period. Handelsbanken Fonder AB's holdings in Insmed were worth $3,752,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. National Bank of Canada FI increased its stake in shares of Insmed by 9.7% during the 4th quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company's stock worth $115,000 after purchasing an additional 147 shares during the last quarter. Snowden Capital Advisors LLC increased its stake in shares of Insmed by 2.5% during the 4th quarter. Snowden Capital Advisors LLC now owns 6,602 shares of the biopharmaceutical company's stock worth $456,000 after purchasing an additional 158 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 163 shares during the last quarter. M&T Bank Corp increased its stake in shares of Insmed by 5.6% during the 4th quarter. M&T Bank Corp now owns 3,146 shares of the biopharmaceutical company's stock worth $217,000 after purchasing an additional 166 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of Insmed by 3.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,314 shares of the biopharmaceutical company's stock worth $436,000 after purchasing an additional 225 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Jefferies Financial Group reaffirmed a "buy" rating on shares of Insmed in a report on Tuesday, June 10th. Citigroup raised shares of Insmed to a "buy" rating in a report on Tuesday, June 10th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Insmed in a report on Wednesday, February 19th. Royal Bank Of Canada raised their price objective on shares of Insmed from $99.00 to $106.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. Finally, Mizuho raised their price objective on shares of Insmed from $96.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Insmed currently has an average rating of "Moderate Buy" and a consensus target price of $104.81.

Insider Transactions at Insmed

In related news, CEO William Lewis sold 6,830 shares of Insmed stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $72.57, for a total value of $495,653.10. Following the transaction, the chief executive officer now owns 233,924 shares in the company, valued at $16,975,864.68. This trade represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of Insmed stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total transaction of $9,264,648.24. Following the completion of the transaction, the insider now owns 89,407 shares in the company, valued at approximately $8,352,401.94. The trade was a 52.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 301,182 shares of company stock valued at $24,289,380. Insiders own 3.00% of the company's stock.

Insmed Price Performance

NASDAQ:INSM traded down $1.31 during trading hours on Tuesday, hitting $100.28. The stock had a trading volume of 2,591,353 shares, compared to its average volume of 2,171,985. The company has a 50 day simple moving average of $72.79 and a two-hundred day simple moving average of $73.96. 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 one year low of $60.40 and a one year high of $102.00. The firm has a market capitalization of $19.02 billion, a price-to-earnings ratio of -16.85 and a beta of 0.80.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.36) by ($0.06). Insmed had a negative return on equity of 446.98% and a negative net margin of 265.93%. The company had revenue of $92.82 million for the quarter, compared to the consensus estimate of $91.63 million. During the same period in the prior year, the firm posted ($1.06) earnings per share. The business's revenue was up 22.9% on a year-over-year basis. Research analysts forecast that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

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.