Insmed, Inc. $INSM Shares Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC massively increased its Insmed stake in the fourth quarter, boosting holdings by 8,052.6% to 123,267 shares worth about $21.5 million.
• Insmed reported better-than-expected quarterly results, with EPS of -$0.76 versus the expected -$0.90 and revenue of $305.96 million, up 229.7% year over year.
• Despite the strong revenue growth, the company remains unprofitable, and analysts currently rate the stock a Moderate Buy with an average price target of $211.86.

Hsbc Holdings PLC boosted its stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 8,052.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123,267 shares of the biopharmaceutical company's stock after acquiring an additional 121,755 shares during the quarter. Hsbc Holdings PLC owned 0.06% of Insmed worth $21,493,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Rockefeller Capital Management L.P. lifted its stake in shares of Insmed by 88.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 16,775 shares of the biopharmaceutical company's stock valued at $2,920,000 after purchasing an additional 7,863 shares during the period. Corient Private Wealth LLC grew its position in Insmed by 34.1% during the fourth quarter. Corient Private Wealth LLC now owns 20,865 shares of the biopharmaceutical company's stock valued at $3,631,000 after buying an additional 5,305 shares during the period. Keenan LLC acquired a new stake in Insmed during the fourth quarter valued at $369,000. Reflection Asset Management purchased a new position in Insmed in the fourth quarter valued at $30,000. Finally, MidFirst Bank purchased a new position in Insmed in the fourth quarter valued at $698,000.

Insmed Stock Up 1.2%

INSM stock opened at $112.84 on Wednesday. Insmed, Inc. has a 52 week low of $90.39 and a 52 week high of $212.75. 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 firm has a 50-day simple moving average of $108.32 and a 200-day simple moving average of $139.18. The stock has a market capitalization of $24.46 billion, a P/E ratio of -19.62 and a beta of 0.78.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts' consensus estimates 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 period last year, the company posted ($1.42) EPS. Insmed's quarterly revenue was up 229.7% compared to the same quarter last year. Equities analysts forecast that Insmed, Inc. will post -2.55 earnings per share for the current fiscal year.

Insider Transactions at Insmed

In related news, insider Michael Alexander Smith sold 1,806 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $95.82, for a total value of $173,050.92. Following the completion of the transaction, the insider directly owned 37,648 shares of the company's stock, valued at approximately $3,607,431.36. This represents a 4.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Insmed stock in a transaction on 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 directly owned 69,082 shares in the company, valued at approximately $7,065,016.14. This trade represents a 3.36% decrease in their position. 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 three months, insiders sold 54,590 shares of company stock valued at $6,078,011. Insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on INSM shares. Mizuho set a $192.00 target price on shares of Insmed in a research note on Tuesday, June 16th. Leerink Partners lifted their price target on Insmed from $210.00 to $215.00 and gave the company an "outperform" rating in a research note on Tuesday, March 24th. JPMorgan Chase & Co. reduced their price target on Insmed from $180.00 to $179.00 and set an "overweight" rating for the company in a report on Monday, June 8th. Guggenheim lowered their price target on Insmed from $230.00 to $226.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Finally, Jefferies Financial Group began coverage on Insmed in a report on Monday, March 16th. They issued a "buy" rating and a $228.00 price objective on the stock. One 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 company's stock. Based on data from MarketBeat, Insmed has a consensus rating of "Moderate Buy" and an average price target of $211.86.

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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