Insmed, Inc. $INSM Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management cut its Insmed position by 73.8% in the first quarter, leaving it with 8,008 shares worth about $1.31 million.
• Analyst sentiment remains broadly positive, with a Moderate Buy consensus and an average price target of $211.86; several firms recently reiterated or raised bullish ratings on the stock.
• Insmed reported better-than-expected Q1 results, posting EPS of -$0.76 versus estimates of -$0.90 and revenue of $305.96 million, up 229.7% year over year.

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in Insmed, Inc. (NASDAQ:INSM - Free Report) by 73.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,008 shares of the biopharmaceutical company's stock after selling 22,519 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Insmed were worth $1,309,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Artisan Partners Limited Partnership boosted its stake in shares of Insmed by 49.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company's stock worth $711,076,000 after acquiring an additional 1,623,342 shares in the last quarter. Atika Capital Management LLC purchased a new position in Insmed in the 3rd quarter valued at approximately $13,681,000. iA Global Asset Management Inc. raised its holdings 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 worth $4,644,000 after purchasing an additional 26,516 shares during the last quarter. Monashee Investment Management LLC acquired a new position in Insmed during the fourth quarter worth $8,702,000. Finally, Nordea Investment Management AB purchased a new stake in Insmed during the fourth quarter worth $3,492,000.

Analyst Ratings Changes

Several research firms have weighed in on INSM. Mizuho set a $192.00 target price on Insmed in a report on Tuesday, June 16th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Insmed in a research note on Wednesday, June 10th. Barclays boosted their price objective on shares of Insmed from $231.00 to $237.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 1st. Morgan Stanley upgraded shares of Insmed from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $166.00 to $212.00 in a research report on Monday, March 30th. Finally, Jefferies Financial Group started coverage on Insmed in a research report on Monday, March 16th. They set a "buy" rating and a $228.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $211.86.

Insider Activity at Insmed

In related news, COO Roger Adsett sold 88,060 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total value of $14,497,317.80. Following the sale, the chief operating officer directly owned 106,810 shares of the company's stock, valued at approximately $17,584,130.30. This trade represents a 45.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Alexander Smith sold 19,638 shares of the business's 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 completion of the sale, the insider owned 51,871 shares of the company's stock, valued at approximately $7,831,483.58. The trade was a 27.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 151,589 shares of company stock valued at $23,075,723. Insiders own 2.10% of the company's stock.

Insmed Stock Performance

NASDAQ:INSM opened at $103.44 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The firm has a market cap of $22.42 billion, a PE ratio of -17.99 and a beta of 0.79. The firm has a 50 day simple moving average of $114.74 and a 200-day simple moving average of $144.81. Insmed, Inc. has a 1-year low of $90.39 and a 1-year high of $212.75.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping 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 quarter last year, the business earned ($1.42) earnings per share. Insmed's revenue was up 229.7% compared to the same quarter last year. On average, equities analysts expect that Insmed, Inc. will post -2.55 EPS 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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