LPL Financial LLC Has $3.91 Million Holdings in Insmed, Inc. $INSM

Key Points

• LPL Financial LLC increased its stake in Insmed, Inc. by 56.3% in the first quarter, acquiring a total of 51,213 shares valued at approximately $3.9 million.
• Insider selling has occurred significantly, with CFO Sara Bonstein selling 58,400 shares and CEO William Lewis selling 129,805 shares, leading to respective decreases in their holdings of 44.27% and 35.69%.
• Analysts are optimistic about Insmed's stock, with multiple upgrades and a consensus target price of $129.57, indicating a potential for growth.

LPL Financial LLC boosted its holdings in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 56.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,213 shares of the biopharmaceutical company's stock after acquiring an additional 18,456 shares during the quarter. LPL Financial LLC's holdings in Insmed were worth $3,907,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. lifted its holdings in Insmed by 164.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 221 shares during the last quarter. Elequin Capital LP acquired a new position in Insmed in the 4th quarter valued at about $28,000. NBC Securities Inc. acquired a new position in Insmed in the 1st quarter valued at about $49,000. Versant Capital Management Inc increased its position in Insmed by 546.3% during the 1st quarter. Versant Capital Management Inc now owns 698 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 590 shares during the period. Finally, Signaturefd LLC increased its position in Insmed by 60.0% during the 1st quarter. Signaturefd LLC now owns 867 shares of the biopharmaceutical company's stock worth $66,000 after purchasing an additional 325 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Truist Financial upped their price target on Insmed from $126.00 to $139.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Wells Fargo & Company increased their price target on Insmed from $130.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 12th. Stifel Nicolaus upped their price objective on Insmed from $121.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. The Goldman Sachs Group upped their price objective on Insmed from $114.00 to $142.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. increased their price target on Insmed from $111.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday. Sixteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $131.29.

Insider Activity at Insmed

In related news, CEO William Lewis sold 129,805 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 233,924 shares in the company, valued at $23,483,630.36. This trade represents a 35.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of Insmed stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total transaction of $9,264,648.24. Following the completion of the transaction, the insider owned 89,407 shares in the company, valued at approximately $8,352,401.94. This trade represents a 52.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 504,694 shares of company stock worth $48,660,104 over the last quarter. 3.00% of the stock is currently owned by company insiders.

Insmed Stock Performance

NASDAQ INSM traded up $2.24 during trading hours on Wednesday, reaching $129.45. The company's stock had a trading volume of 2,350,936 shares, compared to its average volume of 3,161,517. The company has a current ratio of 6.68, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45. The business has a 50-day simple moving average of $106.10 and a 200 day simple moving average of $84.93. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $130.13. The stock has a market cap of $27.36 billion, a PE ratio of -22.67 and a beta of 0.95.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing analysts' consensus estimates of ($1.30) by ($0.40). The business had revenue of $107.42 million for the quarter, compared to the consensus estimate of $104.06 million. Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The business's quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the firm posted ($1.94) EPS. Insmed has set its FY 2025 guidance at EPS. Equities research analysts predict that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Insmed 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.