Insmed, Inc. $INSM Shares Bought by DNB Asset Management AS

Key Points

• DNB Asset Management AS sharply increased its Insmed stake in the fourth quarter, boosting holdings by 1,104.9% to 40,918 shares worth about $7.1 million.
• Analysts remain mostly positive on Insmed: several firms raised price targets, and the stock carries a Moderate Buy consensus with an average target of $210.95.
• Insmed reported quarterly earnings that beat expectations, with EPS of ($0.76) versus estimates of ($0.90) and revenue of $305.96 million, up 229.7% from a year earlier, even as insiders recently sold shares.

DNB Asset Management AS grew its position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 1,104.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,918 shares of the biopharmaceutical company's stock after purchasing an additional 37,522 shares during the period. DNB Asset Management AS's holdings in Insmed were worth $7,121,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. CIBC Private Wealth Group LLC lifted its holdings 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 worth $26,000 after acquiring an additional 53 shares during the period. CoreCap Advisors LLC purchased a new position in shares of Insmed during the 4th quarter worth about $27,000. SBI Securities Co. Ltd. lifted its holdings 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 worth $30,000 after acquiring an additional 166 shares during the period. GraniteShares Advisors LLC purchased a new position in shares of Insmed during the 4th quarter worth about $30,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings 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 worth $38,000 after acquiring an additional 151 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INSM. Morgan Stanley upgraded shares of Insmed from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $166.00 to $212.00 in a report on Monday, March 30th. Barclays increased their price objective on shares of Insmed from $231.00 to $237.00 and gave the stock an "overweight" rating in a report on Wednesday, April 1st. Jefferies Financial Group began coverage on shares of Insmed in a report on Monday, March 16th. They set a "buy" rating and a $228.00 price objective on the stock. Leerink Partners increased their price objective on shares of Insmed from $210.00 to $215.00 and gave the stock an "outperform" rating in a report on Tuesday, March 24th. Finally, Royal Bank Of Canada cut their price target on shares of Insmed from $220.00 to $205.00 and set an "outperform" rating on the stock in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $210.95.

Insider Activity

In other news, insider Michael Alexander Smith sold 19,638 shares of Insmed stock in a transaction that occurred 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 sale, the insider owned 51,871 shares in the company, valued at $7,831,483.58. This trade represents a 27.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William Lewis sold 10,699 shares of Insmed stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $143.97, for a total transaction of $1,540,335.03. Following the sale, the chief executive officer owned 301,185 shares in the company, valued at $43,361,604.45. This represents a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 161,193 shares of company stock worth $25,462,012 over the last 90 days. Company insiders own 2.10% of the company's stock.

Insmed Trading Down 1.8%

NASDAQ INSM opened at $107.15 on Tuesday. Insmed, Inc. has a one year low of $64.85 and a one year high of $212.75. The company's 50 day moving average price is $140.60 and its 200 day moving average price is $162.84. 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 $23.22 billion, a price-to-earnings ratio of -18.63 and a beta of 0.89.

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. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same quarter last year, the firm posted ($1.42) earnings per share. Insmed's revenue for the quarter was up 229.7% compared to the same quarter last year. 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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