National Pension Service Has $2.84 Million Holdings in Insmed, Inc. $INSM

Key Points

• National Pension Service cut its Insmed stake by 91.4% in the second quarter, selling 285,203 shares and retaining 26,678 shares valued at approximately $2.84 million.
• Analysts remain broadly bullish on Insmed, with an average “Buy” rating and a consensus price target of $205.52, despite modest target reductions from Guggenheim and JPMorgan.
• Insmed reported quarterly revenue of $425.49 million, up 296.1% year over year, and adjusted losses of $0.06 per share, beating the consensus estimate of a $0.67 loss; insiders sold roughly $38.7 million of stock during the quarter.

National Pension Service decreased its holdings in Insmed, Inc. (NASDAQ:INSM - Free Report) by 91.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,678 shares of the biopharmaceutical company's stock after selling 285,203 shares during the period. National Pension Service's holdings in Insmed were worth $2,844,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. CIBC Private Wealth Group LLC boosted its stake in shares of Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock worth $26,000 after acquiring an additional 53 shares during the period. EverSource Wealth Advisors LLC raised its stake in Insmed by 10.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 747 shares of the biopharmaceutical company's stock valued at $130,000 after acquiring an additional 69 shares during the period. Private Advisor Group LLC lifted its holdings in Insmed by 1.8% during the 1st quarter. Private Advisor Group LLC now owns 4,749 shares of the biopharmaceutical company's stock valued at $777,000 after purchasing an additional 82 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in Insmed by 5.4% during the 1st quarter. Glenmede Trust Co. NA now owns 1,916 shares of the biopharmaceutical company's stock valued at $313,000 after purchasing an additional 98 shares during the last quarter. Finally, Allworth Financial LP boosted its position in Insmed by 20.5% during the fourth quarter. Allworth Financial LP now owns 635 shares of the biopharmaceutical company's stock worth $111,000 after purchasing an additional 108 shares during the period.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on INSM shares. Guggenheim dropped their price objective on shares of Insmed from $207.00 to $205.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Roth Capital reaffirmed a "buy" rating on shares of Insmed in a report on Monday, June 8th. BMO Capital Markets began coverage on shares of Insmed in a research note on Monday, July 20th. They issued an "outperform" rating and a $192.00 price target on the stock. Evercore restated an "outperform" rating and set a $170.00 price objective on shares of Insmed in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Insmed from $179.00 to $175.00 and set an "overweight" rating for the company in a report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $205.52.

Insmed Stock Performance

NASDAQ INSM opened at $129.41 on Monday. The firm has a 50-day moving average price of $117.76 and a two-hundred day moving average price of $124.00. Insmed, Inc. has a 12-month low of $90.39 and a 12-month high of $212.75. The company has a market capitalization of $28.26 billion, a P/E ratio of -31.49 and a beta of 0.82. The company has a quick ratio of 3.40, a current ratio of 3.72 and a debt-to-equity ratio of 0.74.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.67) by $0.61. The company had revenue of $425.49 million for the quarter, compared to analysts' expectations of $395.50 million. Insmed had a negative net margin of 76.94% and a negative return on equity of 123.94%. The business's revenue for the quarter was up 296.1% on a year-over-year basis. During the same period last year, the firm earned ($1.70) earnings per share. Analysts anticipate that Insmed, Inc. will post -1.83 earnings per share for the current year.

Insider Buying and Selling

In other Insmed news, CEO William Lewis sold 21,398 shares of the firm's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $103.32, for a total transaction of $2,210,841.36. Following the transaction, the chief executive officer owned 258,917 shares in the company, valued at $26,751,304.44. This trade represents a 7.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Smith sold 1,806 shares of Insmed stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $95.82, for a total value of $173,050.92. Following the completion of the transaction, the insider directly owned 37,648 shares of the company's stock, valued at $3,607,431.36. This represents a 4.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 298,753 shares of company stock worth $38,704,764 in the last quarter. Insiders own 2.10% of the company's stock.

Insmed Company Profile

Insmed Incorporated NASDAQ: INSM is a global biopharmaceutical company focused on developing and commercializing therapies for serious and rare diseases. The company's work centers on areas of significant unmet medical need, including pulmonary and infectious diseases, as well as other specialty conditions.

Insmed's primary commercial product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled antibacterial therapy approved in the United States for adults with refractory Mycobacterium avium complex lung disease as part of a combination antibacterial regimen.

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