Insmed, Inc. $INSM Stake Boosted by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its Insmed stake by 3.2% in the first quarter, adding 16,290 shares to own 523,101 shares worth approximately $85.5 million. Several other institutional investors also expanded their positions.
• Insmed insiders sold shares during the past quarter, including CEO William Lewis’s $1.26 million sale and COO Roger Adsett’s $242,380 sale. Insiders collectively sold 54,590 shares valued at about $5.8 million.
• Insmed shares opened at $98.60, down 2.8%, despite quarterly revenue rising 229.7% year over year and earnings beating estimates. Analysts maintain a consensus “Buy” rating with an average price target of $209.35, although targets range from $185 to $235 and one firm rates the stock “Sell.”

Royal Bank of Canada boosted its holdings in Insmed, Inc. (NASDAQ:INSM - Free Report) by 3.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 523,101 shares of the biopharmaceutical company's stock after purchasing an additional 16,290 shares during the quarter. Royal Bank of Canada owned approximately 0.24% of Insmed worth $85,537,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. iA Global Asset Management Inc. grew its holdings in shares of 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 last quarter. Monashee Investment Management LLC acquired a new position in Insmed during the 4th quarter valued at approximately $8,702,000. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Insmed by 89.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 103,308 shares of the biopharmaceutical company's stock worth $17,981,000 after buying an additional 48,779 shares during the last quarter. Aberdeen Group plc grew its stake in Insmed by 7.9% during the 4th quarter. Aberdeen Group plc now owns 253,112 shares of the biopharmaceutical company's stock worth $44,052,000 after buying an additional 18,490 shares during the last quarter. Finally, Danske Bank A S increased its position in Insmed by 4,494.1% in the fourth quarter. Danske Bank A S now owns 110,258 shares of the biopharmaceutical company's stock worth $19,189,000 after buying an additional 107,858 shares during the period.

Insider Activity at Insmed

In other news, CEO William Lewis sold 10,699 shares of the company's stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $117.40, for a total value of $1,256,062.60. Following the completion of the sale, the chief executive officer directly owned 259,058 shares of the company's stock, valued at approximately $30,413,409.20. This represents a 3.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 2,370 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $242,379.90. Following the sale, the chief operating officer directly owned 98,603 shares of the company's stock, valued at approximately $10,084,128.81. This represents a 2.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 54,590 shares of company stock valued at $5,793,738 over the last quarter. Corporate insiders own 2.10% of the company's stock.

Insmed Trading Down 2.8%

Shares of INSM stock opened at $98.60 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. Insmed, Inc. has a 1 year low of $90.39 and a 1 year high of $212.75. The stock has a fifty day moving average of $104.68 and a two-hundred day moving average of $131.02. The firm has a market capitalization of $21.37 billion, a PE ratio of -17.15 and a beta of 0.78.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.14. The business had revenue of $305.96 million during the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The company's quarterly revenue was up 229.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.42) earnings per share. As a group, research analysts expect that Insmed, Inc. will post -2.43 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Raymond James Financial assumed coverage on Insmed in a research note on Friday, April 10th. They issued an "outperform" rating and a $200.00 target price on the stock. Truist Financial dropped their price objective on shares of Insmed from $205.00 to $185.00 and set a "buy" rating on the stock in a report on Wednesday, May 13th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $235.00 price objective on shares of Insmed in a research report on Tuesday. Roth Capital reissued a "buy" rating on shares of Insmed in a research note on Monday, June 8th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Insmed in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $209.35.

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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