Insmed, Inc. $INSM Shares Bought by Swedbank AB

Key Points

• Swedbank AB increased its stake in Insmed by 39.1% in the first quarter, bringing its holdings to 82,865 shares worth about $13.55 million.
• Wall Street remains broadly bullish on INSM. Multiple firms recently reiterated or initiated buy/outperform ratings, and the consensus price target is $211.86.
• Insmed reported better-than-expected quarterly results on strong revenue growth, but the company still posted a loss and insiders have been selling shares in recent months.

Swedbank AB raised its holdings in Insmed, Inc. (NASDAQ:INSM - Free Report) by 39.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 82,865 shares of the biopharmaceutical company's stock after buying an additional 23,313 shares during the quarter. Swedbank AB's holdings in Insmed were worth $13,550,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Atika Capital Management LLC acquired a new stake in shares of Insmed in the third quarter worth $13,681,000. iA Global Asset Management Inc. lifted its position in Insmed by 15,973.5% during the fourth quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company's stock valued at $4,644,000 after purchasing an additional 26,516 shares during the period. Monashee Investment Management LLC purchased a new stake in Insmed in the fourth quarter valued at $8,702,000. Nordea Investment Management AB purchased a new stake in Insmed in the fourth quarter valued at $3,492,000. Finally, Darwin Global Management Ltd. grew its position in Insmed by 5.8% during the 3rd quarter. Darwin Global Management Ltd. now owns 20,457,445 shares of the biopharmaceutical company's stock worth $2,897,797,000 after purchasing an additional 1,112,824 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on INSM. Jefferies Financial Group started coverage on Insmed in a report on Monday, March 16th. They issued a "buy" rating and a $228.00 price objective for the company. Raymond James Financial initiated coverage on Insmed in a research report on Friday, April 10th. They set an "outperform" rating and a $200.00 price target for the company. Guggenheim lowered their price objective on Insmed from $230.00 to $226.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Bank of America upped their price objective on Insmed from $211.00 to $213.00 and gave the stock a "buy" rating in a research report on Tuesday, March 24th. Finally, Royal Bank Of Canada cut their target price on shares of Insmed from $205.00 to $195.00 and set an "outperform" rating for the company in a report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $211.86.

Insider Buying and Selling at Insmed

In other news, CFO Sara Bonstein sold 2,404 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $245,857.08. Following the sale, the chief financial officer owned 69,082 shares of the company's stock, valued at approximately $7,065,016.14. This trade represents a 3.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 21,398 shares of the firm's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $103.32, for a total transaction of $2,210,841.36. Following the sale, the chief executive officer directly owned 258,917 shares in the company, valued at approximately $26,751,304.44. The trade was a 7.63% 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. Insiders sold 54,590 shares of company stock valued at $6,078,011 in the last 90 days. Corporate insiders own 2.10% of the company's stock.

Insmed Stock Up 1.5%

Shares of NASDAQ:INSM opened at $118.26 on Friday. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The business has a fifty day moving average of $107.60 and a two-hundred day moving average of $138.43. The stock has a market cap of $25.63 billion, a P/E ratio of -20.57 and a beta of 0.78. Insmed, Inc. has a 52-week low of $90.39 and a 52-week high of $212.75.

Insmed (NASDAQ:INSM - Get Free Report) last released 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 in the previous year, the company earned ($1.42) EPS. The business's revenue for the quarter was up 229.7% compared to the same quarter last year. On average, research analysts expect that Insmed, Inc. will post -2.55 earnings per share for the current year.

Insmed 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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