Journey Strategic Wealth LLC Takes $202,000 Position in Insmed, Inc. (NASDAQ:INSM)

Key Points

• Journey Strategic Wealth LLC has invested approximately $202,000 in Insmed, Inc. by acquiring 2,647 shares in the first quarter.
• Several other institutional investors, including Darwin Global Management Ltd. and Price T Rowe Associates Inc., also increased their stakes in Insmed in the fourth quarter.
• CEO William Lewis sold 129,805 shares of Insmed stock, reflecting a 35.69% decrease in his position, while insiders have sold a total of 606,597 shares worth over $55 million in the last quarter.

Journey Strategic Wealth LLC purchased a new stake in Insmed, Inc. (NASDAQ:INSM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,647 shares of the biopharmaceutical company's stock, valued at approximately $202,000.

Other hedge funds also recently made changes to their positions in the company. National Bank of Canada FI raised its position in Insmed by 9.7% in the fourth quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company's stock valued at $115,000 after purchasing an additional 147 shares during the last quarter. M&T Bank Corp grew its stake in Insmed by 4.7% during the first quarter. M&T Bank Corp now owns 3,293 shares of the biopharmaceutical company's stock worth $252,000 after purchasing an additional 147 shares during the period. Snowden Capital Advisors LLC grew its stake in Insmed by 2.5% during the fourth quarter. Snowden Capital Advisors LLC now owns 6,602 shares of the biopharmaceutical company's stock worth $456,000 after purchasing an additional 158 shares during the period. Cullen Frost Bankers Inc. grew its stake in Insmed by 164.9% in the first quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 221 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in Insmed by 6.5% in the first quarter. Nisa Investment Advisors LLC now owns 3,761 shares of the biopharmaceutical company's stock valued at $287,000 after acquiring an additional 228 shares during the period.

Insider Activity

In related news, CEO William Lewis sold 129,805 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $100.39, for a total transaction of $13,031,123.95. Following the sale, the chief executive officer owned 233,924 shares of the company's stock, valued at approximately $23,483,630.36. The trade was a 35.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $93.42, for a total transaction of $9,264,648.24. Following the completion of the sale, the insider directly owned 89,407 shares in the company, valued at $8,352,401.94. This trade represents a 52.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 606,597 shares of company stock valued at $55,120,762. 3.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on INSM shares. HC Wainwright lifted their price target on Insmed from $90.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Bank of America upped their target price on Insmed from $94.00 to $109.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Royal Bank Of Canada upped their price objective on Insmed from $99.00 to $106.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. UBS Group dropped their target price on Insmed from $110.00 to $109.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. upped their price target on Insmed from $90.00 to $111.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $109.20.

Insmed Stock Up 1.1%

INSM stock traded up $1.11 during midday trading on Wednesday, hitting $106.11. The company's stock had a trading volume of 741,507 shares, compared to its average volume of 2,738,120. The company has a quick ratio of 5.44, a current ratio of 5.86 and a debt-to-equity ratio of 11.38. Insmed, Inc. has a 52-week low of $60.40 and a 52-week high of $106.83. The firm has a market capitalization of $20.13 billion, a P/E ratio of -17.80 and a beta of 0.90. The firm has a 50-day simple moving average of $91.98 and a 200-day simple moving average of $80.33.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing analysts' consensus estimates of ($1.36) by ($0.06). The company had revenue of $92.82 million during the quarter, compared to analysts' expectations of $91.63 million. Insmed had a negative net margin of 265.93% and a negative return on equity of 446.98%. Insmed's revenue was up 22.9% on a year-over-year basis. During the same period last year, the firm earned ($1.06) earnings per share. As a group, equities analysts forecast that Insmed, Inc. will post -4.56 EPS for the current year.

Insmed Company Profile

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed's first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.