Pacer Advisors Inc. Makes New $2.71 Million Investment in Insmed, Inc. $INSM

Key Points

• Pacer Advisors disclosed a new stake in Insmed, buying 15,583 shares in the fourth quarter worth about $2.71 million.
• Several other institutions also boosted or initiated positions in Insmed, highlighting continued institutional interest in the biopharmaceutical company.
• Insmed has seen notable insider selling and mixed analyst sentiment, though Wall Street remains generally bullish with a “Moderate Buy” consensus and an average price target of $211.86.

Pacer Advisors Inc. purchased a new position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 15,583 shares of the biopharmaceutical company's stock, valued at approximately $2,712,000.

Other institutional investors have also modified their holdings of the company. Artisan Partners Limited Partnership lifted its position in Insmed by 49.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company's stock valued at $711,076,000 after acquiring an additional 1,623,342 shares in the last quarter. Atika Capital Management LLC bought a new position in Insmed during the 3rd quarter worth about $13,681,000. iA Global Asset Management Inc. raised its stake in shares of Insmed by 15,973.5% in the 4th quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company's stock valued at $4,644,000 after purchasing an additional 26,516 shares during the period. Monashee Investment Management LLC bought a new stake in shares of Insmed in the fourth quarter valued at about $8,702,000. Finally, Nordea Investment Management AB bought a new stake in shares of Insmed in the fourth quarter valued at about $3,492,000.

Insider Buying and Selling

In related news, CEO William Lewis sold 10,699 shares of the firm's stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $143.97, for a total value of $1,540,335.03. Following the completion of the transaction, the chief executive officer directly owned 301,185 shares of the company's stock, valued at approximately $43,361,604.45. This trade represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 88,060 shares of the business's stock in a transaction on Wednesday, April 1st. The stock was 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. The trade was a 45.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 149,783 shares of company stock worth $22,902,672 over the last 90 days. Company insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

INSM has been the subject of several recent research reports. Raymond James Financial began coverage on Insmed in a research report on Friday, April 10th. They set an "outperform" rating and a $200.00 price objective for the company. Jefferies Financial Group assumed coverage on Insmed in a research note on Monday, March 16th. They issued a "buy" rating and a $228.00 target price on the stock. Stifel Nicolaus upped their price target on Insmed from $205.00 to $208.00 and gave the stock a "buy" rating in a research report on Tuesday, March 24th. Truist Financial decreased their price target on shares of Insmed from $205.00 to $185.00 and set a "buy" rating for the company in a research note on Wednesday, May 13th. Finally, Mizuho set a $192.00 price objective on shares of Insmed in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $211.86.

Insmed Price Performance

Shares of NASDAQ INSM opened at $102.15 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The business has a 50-day moving average of $115.70 and a 200-day moving average of $145.52. The stock has a market capitalization of $22.14 billion, a price-to-earnings ratio of -17.77 and a beta of 0.79. Insmed, Inc. has a fifty-two week low of $90.39 and a fifty-two week high of $212.75.

Insmed (NASDAQ:INSM - Get Free Report) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same quarter in the prior year, the company posted ($1.42) earnings per share. Insmed's revenue was up 229.7% on a year-over-year basis. As a group, sell-side analysts predict that Insmed, Inc. will post -2.54 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.