Insmed, Inc. $INSM Stock Holdings Reduced by Bank of Nova Scotia

Bank of Nova Scotia reduced its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 75.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,203 shares of the biopharmaceutical company's stock after selling 45,572 shares during the period. Bank of Nova Scotia's holdings in Insmed were worth $2,486,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INSM. EverSource Wealth Advisors LLC grew its stake in shares of Insmed by 65.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company's stock valued at $67,000 after buying an additional 263 shares in the last quarter. First Trust Advisors LP lifted its stake in Insmed by 80.8% in the second quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company's stock valued at $4,770,000 after acquiring an additional 21,176 shares during the last quarter. Baird Financial Group Inc. acquired a new stake in Insmed in the second quarter valued at approximately $2,589,000. Amundi grew its position in Insmed by 21,194.4% in the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company's stock worth $1,130,000 after acquiring an additional 11,445 shares in the last quarter. Finally, Natixis bought a new stake in Insmed in the second quarter worth approximately $1,072,000.

Insiders Place Their Bets

In other news, COO Roger Adsett sold 2,370 shares of Insmed stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $242,379.90. Following the transaction, the chief operating officer directly owned 98,603 shares in the company, valued at approximately $10,084,128.81. The trade was a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sara Bonstein sold 2,404 shares of the business's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $245,857.08. Following the transaction, the chief financial officer directly owned 69,082 shares of the company's stock, valued at $7,065,016.14. This represents a 3.36% decrease in their position. 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. In the last ninety days, insiders sold 54,590 shares of company stock valued at $5,793,738. 2.10% of the stock is owned by company insiders.

Insmed Price Performance

NASDAQ INSM opened at $104.13 on Wednesday. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The company has a fifty day simple moving average of $105.09 and a 200 day simple moving average of $132.25. The company has a market cap of $22.57 billion, a P/E ratio of -18.11 and a beta of 0.78. 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 posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.90) by $0.14. The business had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. Insmed's revenue was up 229.7% compared to the same quarter last year. During the same period last year, the business posted ($1.42) EPS. On average, sell-side analysts predict that Insmed, Inc. will post -2.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Raymond James Financial began coverage on shares of Insmed in a research note on Friday, April 10th. They issued an "outperform" rating and a $200.00 price objective for the company. Cantor Fitzgerald reissued an "overweight" rating and set a $235.00 target price on shares of Insmed in a research report on Tuesday. Roth Capital restated a "buy" rating on shares of Insmed in a report on Monday, June 8th. Guggenheim reaffirmed a "buy" rating and issued a $207.00 price target on shares of Insmed in a research report on Friday, July 10th. Finally, HC Wainwright reiterated a "buy" rating and set a $220.00 price target on shares of Insmed in a research note on Monday, July 20th. Two research 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 company's stock. According to MarketBeat.com, Insmed presently has a consensus rating of "Buy" and an average target price 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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