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Mid American Wealth Advisory Group Inc. Buys New Stake in Insmed, Inc. $INSM

Insmed logo with Medical background

Key Points

  • Mid American Wealth Advisory Group Inc. has purchased a new stake in Insmed, acquiring 3,928 shares valued at approximately $395,000, signaling institutional interest in the biopharmaceutical company.
  • Several analysts have raised their price targets for Insmed, with Goldman Sachs increasing it from $121.00 to $196.00 and UBS from $140.00 to $194.00, reflecting strong confidence in the company's growth prospects.
  • Insider sales have been noted, with key executives selling large amounts of stock, including Orlov S. Nicole Schaeffer who sold 76,520 shares for over $11 million, indicating potential concerns about the company's future performance.
  • Interested in Insmed? Here are five stocks we like better.

Mid American Wealth Advisory Group Inc. purchased a new position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,928 shares of the biopharmaceutical company's stock, valued at approximately $395,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. lifted its stake in shares of Insmed by 164.9% during the first quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 221 shares in the last quarter. ORG Partners LLC raised its holdings in shares of Insmed by 220.2% during the 2nd quarter. ORG Partners LLC now owns 285 shares of the biopharmaceutical company's stock valued at $28,000 after buying an additional 196 shares during the period. Hilltop National Bank acquired a new position in Insmed during the 2nd quarter worth approximately $28,000. LRI Investments LLC purchased a new position in Insmed in the 2nd quarter worth approximately $59,000. Finally, Signaturefd LLC boosted its holdings in Insmed by 60.0% in the 1st quarter. Signaturefd LLC now owns 867 shares of the biopharmaceutical company's stock worth $66,000 after acquiring an additional 325 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on INSM shares. Truist Financial lifted their price objective on shares of Insmed from $126.00 to $139.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. Cowen reaffirmed a "buy" rating on shares of Insmed in a research note on Thursday, October 2nd. The Goldman Sachs Group upped their price objective on shares of Insmed from $121.00 to $196.00 and gave the company a "buy" rating in a research report on Friday, October 3rd. UBS Group lifted their target price on Insmed from $140.00 to $194.00 and gave the stock a "buy" rating in a research report on Tuesday, October 14th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Insmed in a research note on Wednesday, October 8th. Nineteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $152.88.

Read Our Latest Report on Insmed

Insider Activity

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 76,520 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $145.45, for a total transaction of $11,129,834.00. Following the sale, the insider directly owned 36,461 shares of the company's stock, valued at approximately $5,303,252.45. This represents a 67.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Melvin Md Sharoky sold 10,000 shares of Insmed stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $145.39, for a total transaction of $1,453,900.00. Following the completion of the transaction, the director directly owned 262,675 shares of the company's stock, valued at $38,190,318.25. This trade represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 152,657 shares of company stock valued at $21,442,198 over the last quarter. 3.00% of the stock is owned by company insiders.

Insmed Trading Up 1.3%

Shares of NASDAQ INSM opened at $167.91 on Tuesday. The stock's 50 day moving average price is $144.48 and its two-hundred day moving average price is $105.96. Insmed, Inc. has a 52-week low of $60.40 and a 52-week high of $168.22. The stock has a market capitalization of $35.49 billion, a P/E ratio of -29.41 and a beta of 1.03. The company has a quick ratio of 6.33, a current ratio of 6.68 and a debt-to-equity ratio of 0.45.

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

About Insmed

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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