Mirae Asset Global Investments Co. Ltd. Acquires 69,410 Shares of Insmed, Inc. $INSM

Key Points

• Mirae Asset Global Investments boosted its Insmed holding by 764.3%, acquiring 69,410 shares to own 78,492 shares worth about $13,661,000 at quarter-end.
• Company insiders sold a total of 190,476 shares worth roughly $29,953,112 last quarter, including CEO William Lewis and COO Roger Adsett, reducing insider ownership to 2.10%.
• Analysts remain broadly positive with an average "Buy" rating and a mean price target of $213.23, despite a recent quarterly EPS miss (‑$1.54 vs. ‑$1.07) while revenue rose 152.6% year-over-year.

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 764.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,492 shares of the biopharmaceutical company's stock after acquiring an additional 69,410 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Insmed were worth $13,661,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of INSM. EverSource Wealth Advisors LLC boosted its stake in Insmed by 65.6% during the second quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company's stock worth $67,000 after acquiring an additional 263 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Insmed by 80.8% in the second quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company's stock worth $4,770,000 after buying an additional 21,176 shares in the last quarter. Baird Financial Group Inc. bought a new position in shares of Insmed in the second quarter worth approximately $2,589,000. Amundi lifted its stake in shares of 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 buying an additional 11,445 shares in the last quarter. Finally, Natixis bought a new position in shares of Insmed in the second quarter worth approximately $1,072,000.

Analyst Ratings Changes

INSM has been the topic of several analyst reports. Roth Mkm reiterated a "buy" rating and issued a $212.00 target price on shares of Insmed in a research note on Friday. Wells Fargo & Company dropped their target price on shares of Insmed from $208.00 to $175.00 and set an "overweight" rating on the stock in a research note on Monday, March 23rd. Raymond James Financial initiated coverage on shares of Insmed in a research note on Friday, April 10th. They issued an "outperform" rating and a $200.00 target price on the stock. Guggenheim reiterated a "buy" rating and issued a $230.00 target price on shares of Insmed in a research note on Thursday. Finally, Leerink Partners upped their target price on shares of Insmed from $210.00 to $215.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $213.23.

Insider Activity at Insmed

In related news, CEO William Lewis sold 13,396 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $147.79, for a total transaction of $1,979,794.84. Following the transaction, the chief executive officer owned 301,185 shares in the company, valued at $44,512,131.15. This represents a 4.26% 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, COO Roger Adsett sold 88,060 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total transaction of $14,497,317.80. Following the transaction, the chief operating officer owned 106,810 shares in the company, valued at approximately $17,584,130.30. This trade represents a 45.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 190,476 shares of company stock worth $29,953,112 over the last quarter. Company insiders own 2.10% of the company's stock.

Insmed Price Performance

Shares of Insmed stock opened at $144.48 on Monday. The company has a market cap of $31.19 billion, a price-to-earnings ratio of -22.54 and a beta of 1.10. The company's 50 day moving average is $149.95 and its 200 day moving average is $167.61. Insmed, Inc. has a twelve month low of $63.81 and a twelve month high of $212.75. The company has a quick ratio of 3.54, a current ratio of 3.83 and a debt-to-equity ratio of 0.76.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, missing analysts' consensus estimates of ($1.07) by ($0.47). The company had revenue of $263.84 million for the quarter, compared to the consensus estimate of $263.97 million. Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The firm's revenue for the quarter was up 152.6% on a year-over-year basis. During the same quarter last year, the company earned ($1.32) EPS. Research analysts anticipate that Insmed, Inc. will post -4.56 EPS for the current year.

Insmed Company 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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