Handelsbanken Fonder AB Grows Holdings in Insmed, Inc. $INSM

Key Points

• Handelsbanken Fonder AB increased its stake in Insmed by 26.7% in the fourth quarter, holding 63,581 shares valued at about $11.1 million after adding 13,400 shares.
• Insider selling was notable, with COO Roger Adsett selling 88,060 shares and insider Michael Alexander Smith selling 19,638 shares; insiders sold 150,494 shares in the last quarter overall.
• Analysts remain broadly upbeat on INSM, with a Moderate Buy consensus and an average price target of $210.95. The company also recently beat quarterly EPS expectations and reported revenue growth of 229.7% year over year.

Handelsbanken Fonder AB grew its holdings in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 26.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,581 shares of the biopharmaceutical company's stock after buying an additional 13,400 shares during the quarter. Handelsbanken Fonder AB's holdings in Insmed were worth $11,066,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in INSM. CIBC Private Wealth Group LLC boosted its stake in shares of Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock valued at $26,000 after buying an additional 53 shares during the last quarter. CoreCap Advisors LLC purchased a new position in shares of Insmed during the 4th quarter valued at approximately $27,000. SBI Securities Co. Ltd. boosted its stake in shares of Insmed by 404.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company's stock valued at $30,000 after buying an additional 166 shares during the last quarter. GraniteShares Advisors LLC purchased a new position in shares of Insmed during the 4th quarter valued at approximately $30,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Insmed by 169.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company's stock valued at $38,000 after buying an additional 151 shares during the last quarter.

Insider Activity

In other news, COO Roger Adsett sold 88,060 shares of the business's stock in a transaction 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 completion of the transaction, the chief operating officer owned 106,810 shares of the company's stock, valued at approximately $17,584,130.30. The trade was a 45.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Alexander Smith sold 19,638 shares of the business's stock in a transaction on Monday, March 30th. The shares were sold at an average price of $150.98, for a total transaction of $2,964,945.24. Following the transaction, the insider directly owned 51,871 shares of the company's stock, valued at approximately $7,831,483.58. This trade represents a 27.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 150,494 shares of company stock valued at $23,846,784. 2.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on INSM shares. Jefferies Financial Group started coverage on Insmed in a research note on Monday, March 16th. They set a "buy" rating and a $228.00 price objective on the stock. Roth Mkm restated a "buy" rating and set a $212.00 price objective on shares of Insmed in a research note on Friday, April 17th. Bank of America raised their price objective on Insmed from $211.00 to $213.00 and gave the stock a "buy" rating in a research note on Tuesday, March 24th. Wells Fargo & Company reduced their price objective on Insmed from $177.00 to $160.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Finally, HC Wainwright reiterated a "buy" rating on shares of Insmed 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 stock. According to data from MarketBeat, Insmed has an average rating of "Moderate Buy" and a consensus price target of $210.95.

Insmed Stock Performance

INSM stock opened at $109.53 on Friday. 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 stock has a market capitalization of $23.74 billion, a price-to-earnings ratio of -19.05 and a beta of 0.89. Insmed, Inc. has a 1 year low of $64.85 and a 1 year high of $212.75. The stock's fifty day moving average is $138.55 and its two-hundred day moving average is $161.25.

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

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.

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