Nykredit A S Invests $9.69 Million in Insmed, Inc. $INSM

Key Points

• Nykredit A S purchased 90,852 Insmed shares during the second quarter, representing an investment of approximately $9.69 million. Several other institutional investors also increased or initiated positions.
• Insmed reported stronger-than-expected quarterly results, with a loss of $0.06 per share versus the $0.67 consensus estimate and revenue of $425.49 million, up 296.1% year over year.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and a $204.91 price target, although insiders sold roughly $38.5 million worth of shares over the past 90 days.

Nykredit A S bought a new position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 90,852 shares of the biopharmaceutical company's stock, valued at approximately $9,687,000.

Several other institutional investors also recently bought and sold shares of the stock. Monashee Investment Management LLC purchased a new position in shares of Insmed during the 4th quarter valued at approximately $8,702,000. SBI Okasan Asset Management Co.Ltd. purchased a new stake in Insmed during the fourth quarter worth $3,562,000. Empowered Funds LLC grew its position in Insmed by 32.6% during the first quarter. Empowered Funds LLC now owns 51,986 shares of the biopharmaceutical company's stock valued at $8,501,000 after buying an additional 12,775 shares during the period. Hsbc Holdings PLC grew its position in Insmed by 8,052.6% during the fourth quarter. Hsbc Holdings PLC now owns 123,267 shares of the biopharmaceutical company's stock valued at $21,493,000 after buying an additional 121,755 shares during the period. Finally, Legal & General Group Plc increased its holdings in Insmed by 159.7% in the fourth quarter. Legal & General Group Plc now owns 540,313 shares of the biopharmaceutical company's stock valued at $94,036,000 after buying an additional 332,292 shares in the last quarter.

Insmed Stock Performance

INSM stock opened at $120.00 on Monday. The company has a current ratio of 3.72, a quick ratio of 3.40 and a debt-to-equity ratio of 0.74. Insmed, Inc. has a 12-month low of $90.39 and a 12-month high of $212.75. The stock has a market cap of $26.21 billion, a price-to-earnings ratio of -29.20 and a beta of 0.82. The business's 50-day moving average is $118.50 and its 200 day moving average is $123.01.

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, beating analysts' consensus estimates of ($0.67) by $0.61. The business had revenue of $425.49 million during the quarter, compared to analysts' expectations of $395.50 million. Insmed had a negative return on equity of 123.94% and a negative net margin of 76.94%.The business's revenue was up 296.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.70) earnings per share. On average, sell-side analysts anticipate that Insmed, Inc. will post -1.84 EPS for the current fiscal year.

Analyst Ratings Changes

INSM has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Insmed from $179.00 to $175.00 and set an "overweight" rating on the stock in a research note on Monday, August 10th. Royal Bank Of Canada cut their price objective on Insmed from $205.00 to $195.00 and set an "outperform" rating for the company in a research report on Friday, June 5th. Evercore reaffirmed an "outperform" rating and set a $170.00 target price on shares of Insmed in a research note on Friday, August 7th. Cantor Fitzgerald reiterated an "overweight" rating and set a $235.00 target price on shares of Insmed in a research report on Tuesday, July 28th. Finally, Guggenheim dropped their price target on shares of Insmed from $207.00 to $205.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $204.91.

Insider Buying and Selling at Insmed

In other news, Director David R. Brennan sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $124.00, for a total value of $3,100,000.00. Following the completion of the sale, the director directly owned 39,238 shares in the company, valued at $4,865,512. This represents a 38.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Lewis sold 21,398 shares of the company's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $103.32, for a total value of $2,210,841.36. Following the completion of the sale, the chief executive officer owned 258,917 shares of the company's stock, valued at approximately $26,751,304.44. The trade was a 7.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 296,947 shares of company stock worth $38,531,713. Corporate insiders own 2.10% of the company's stock.

Insmed 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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