Panagora Asset Management Inc. Sells 10,445 Shares of Insmed, Inc. $INSM

Key Points

• Panagora Asset Management Inc. reduced its holdings in Insmed, Inc. by 3.3%, selling 10,445 shares during the first quarter, and now owns about 306,717 shares valued at $23.4 million.
• Insmed reported quarterly earnings of ($1.70) EPS, which fell short of the consensus estimate of ($1.30), but its revenue grew by 18.9% year-over-year, reaching $107.42 million.
• Several analysts have increased their price targets for Insmed, with HC Wainwright and others giving it a "buy" rating, and an average price target of $132.57.

Panagora Asset Management Inc. lessened its holdings in Insmed, Inc. (NASDAQ:INSM - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 306,717 shares of the biopharmaceutical company's stock after selling 10,445 shares during the period. Panagora Asset Management Inc. owned about 0.17% of Insmed worth $23,399,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Cullen Frost Bankers Inc. lifted its stake in Insmed by 164.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 221 shares in the last quarter. Elequin Capital LP acquired a new position in shares of Insmed in the 4th quarter valued at about $28,000. NBC Securities Inc. purchased a new stake in shares of Insmed in the first quarter worth approximately $49,000. Versant Capital Management Inc grew its position in Insmed by 546.3% during the first quarter. Versant Capital Management Inc now owns 698 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 590 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Insmed by 60.0% in the 1st quarter. Signaturefd LLC now owns 867 shares of the biopharmaceutical company's stock valued at $66,000 after buying an additional 325 shares during the period.

Insmed Stock Performance

NASDAQ:INSM traded down $0.69 during mid-day trading on Thursday, hitting $142.81. 995,055 shares of the company's stock traded hands, compared to its average volume of 2,798,962. The firm has a market capitalization of $30.19 billion, a price-to-earnings ratio of -25.00 and a beta of 0.97. The firm has a 50 day moving average of $112.91 and a two-hundred day moving average of $88.79. The company has a current ratio of 6.68, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45. Insmed, Inc. has a 12 month low of $60.40 and a 12 month high of $146.84.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $107.42 million for the quarter, compared to analyst estimates of $104.06 million. During the same quarter last year, the firm earned ($1.94) earnings per share. The firm's quarterly revenue was up 18.9% compared to the same quarter last year. Insmed has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Mizuho lifted their target price on shares of Insmed from $130.00 to $165.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. Truist Financial increased their price objective on Insmed from $126.00 to $139.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. JPMorgan Chase & Co. boosted their target price on Insmed from $111.00 to $135.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. HC Wainwright upped their target price on Insmed from $90.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Finally, Wells Fargo & Company lifted their price target on Insmed from $140.00 to $171.00 and gave the company an "overweight" rating in a report on Wednesday. Sixteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $134.79.

Insider Buying and Selling

In other news, COO Roger Adsett sold 25,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $127.58, for a total transaction of $3,189,500.00. Following the completion of the transaction, the chief operating officer owned 105,637 shares of the company's stock, valued at approximately $13,477,168.46. This represents a 19.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Alexander Smith sold 933 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $102.51, for a total value of $95,641.83. Following the completion of the transaction, the insider directly owned 66,394 shares of the company's stock, valued at approximately $6,806,048.94. This trade represents a 1.39% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 511,048 shares of company stock worth $51,089,294. 3.00% of the stock is currently owned by corporate insiders.

Insmed Company Profile

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.