Harvest Fund Management Co. Ltd Acquires 14,454 Shares of Insmed, Inc. $INSM

Key Points

• Harvest Fund Management increased its Insmed stake by 509.5% in the fourth quarter, buying 14,454 additional shares and bringing its total holdings to 17,291 shares worth about $3.0 million.
• Analysts remain mostly bullish on Insmed, with multiple firms reiterating buy/outperform ratings and a consensus target price of $210.50, though Weiss Ratings maintained a sell rating.
• Insmed reported quarterly revenue of $305.96 million, topping expectations and rising 229.7% year over year, while posting an adjusted loss of $0.76 per share that was better than expected.

Harvest Fund Management Co. Ltd grew its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 509.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,291 shares of the biopharmaceutical company's stock after purchasing an additional 14,454 shares during the period. Harvest Fund Management Co. Ltd's holdings in Insmed were worth $3,009,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Private Wealth Group LLC boosted its stake in shares of Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 53 shares in the last quarter. CoreCap Advisors LLC acquired a new stake in shares of Insmed in the 4th quarter valued at $27,000. SBI Securities Co. Ltd. boosted its stake in shares of Insmed by 404.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company's stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. GraniteShares Advisors LLC acquired a new stake in shares of Insmed in the 4th quarter valued at $30,000. Finally, RiverPark Advisors LLC acquired a new stake in shares of Insmed in the 3rd quarter valued at $38,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Raymond James Financial assumed coverage on shares of Insmed in a research note on Friday, April 10th. They issued an "outperform" rating and a $200.00 target price on the stock. Roth Mkm restated a "buy" rating and issued a $212.00 target price on shares of Insmed in a research note on Friday, April 17th. Weiss Ratings restated a "sell (d-)" rating on shares of Insmed in a research note on Tuesday, April 21st. HC Wainwright restated a "buy" rating on shares of Insmed in a research note on Friday, May 8th. Finally, Truist Financial reduced their target price on shares of Insmed from $205.00 to $185.00 and set a "buy" rating on the stock in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $210.50.

Insiders Place Their Bets

In related news, CEO William Lewis sold 10,699 shares of Insmed stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $143.97, for a total value of $1,540,335.03. Following the completion of the transaction, the chief executive officer directly owned 301,185 shares of the company's stock, valued at $43,361,604.45. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sara Bonstein sold 2,404 shares of the business's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $245,857.08. Following the sale, the chief financial officer directly owned 69,082 shares of the company's stock, valued at $7,065,016.14. This represents a 3.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 160,482 shares of company stock valued at $24,438,193. 2.10% of the stock is owned by corporate insiders.

Insmed Stock Performance

Insmed stock opened at $94.22 on Friday. The stock has a 50-day simple moving average of $130.45 and a 200 day simple moving average of $154.95. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. Insmed, Inc. has a 12-month low of $70.57 and a 12-month high of $212.75. The stock has a market capitalization of $20.42 billion, a price-to-earnings ratio of -16.39 and a beta of 0.79.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business had revenue of $305.96 million during the quarter, compared to analysts' expectations of $300.81 million. During the same period in the previous year, the business posted ($1.42) earnings per share. The firm's revenue for the quarter was up 229.7% compared to the same quarter last year. On average, research analysts anticipate that Insmed, Inc. will post -2.56 earnings per share for the current fiscal 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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