Pictet Asset Management Holding SA Buys 143,285 Shares of Insmed, Inc. $INSM

Key Points

• Pictet Asset Management Holding SA increased its Insmed stake by 14.9% in the first quarter, adding 143,285 shares to bring its total to 1,102,248 shares worth about $178.7 million.
• Insider selling continued in June, with COO Roger Adsett and CFO Sara Bonstein both selling shares, though the transactions were tied to tax withholding from vesting equity awards.
• Analysts remain bullish on Insmed overall, with a consensus rating of “Moderate Buy” and an average price target of $211.86, even as the stock trades well below that level and the company reported a smaller-than-expected quarterly loss alongside strong revenue growth.

Pictet Asset Management Holding SA lifted its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 14.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,102,248 shares of the biopharmaceutical company's stock after acquiring an additional 143,285 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.51% of Insmed worth $178,659,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of Insmed by 65.6% during the second quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company's stock valued at $67,000 after purchasing an additional 263 shares in the last quarter. First Trust Advisors LP grew its position in Insmed by 80.8% in the 2nd quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company's stock worth $4,770,000 after purchasing an additional 21,176 shares in the last quarter. Baird Financial Group Inc. purchased a new stake in Insmed in the 2nd quarter valued at about $2,589,000. Amundi increased its stake in Insmed by 21,194.4% in the 2nd quarter. Amundi now owns 11,499 shares of the biopharmaceutical company's stock valued at $1,130,000 after buying an additional 11,445 shares during the last quarter. Finally, Natixis bought a new position in shares of Insmed during the 2nd quarter worth approximately $1,072,000.

Insider Transactions at Insmed

In other Insmed news, COO Roger Adsett sold 2,370 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $242,379.90. Following the completion of the transaction, the chief operating officer owned 98,603 shares in the company, valued at $10,084,128.81. This trade represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sara Bonstein sold 2,404 shares of Insmed stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $245,857.08. Following the completion of the transaction, the chief financial officer owned 69,082 shares of the company's stock, valued at $7,065,016.14. The trade was a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 153,349 shares of company stock worth $22,321,619. Insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on INSM shares. Mizuho set a $192.00 price target on Insmed in a research report on Tuesday, June 16th. Royal Bank Of Canada reduced their price objective on Insmed from $205.00 to $195.00 and set an "outperform" rating for the company in a research note on Friday, June 5th. Morgan Stanley raised Insmed from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $166.00 to $212.00 in a research report on Monday, March 30th. Bank of America lifted their target price on Insmed from $211.00 to $213.00 and gave the stock a "buy" rating in a research note on Tuesday, March 24th. Finally, Roth Mkm reissued a "buy" rating on shares of Insmed in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $211.86.

Insmed Price Performance

Shares of NASDAQ INSM opened at $103.38 on Monday. The stock has a fifty day simple moving average of $112.90 and a two-hundred day simple moving average of $143.45. Insmed, Inc. has a 1-year low of $90.39 and a 1-year high of $212.75. The firm has a market cap of $22.41 billion, a price-to-earnings ratio of -17.98 and a beta of 0.79. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80.

Insmed (NASDAQ:INSM - Get Free Report) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same period in the previous year, the company posted ($1.42) earnings per share. The business's revenue was up 229.7% on a year-over-year basis. Analysts anticipate that Insmed, Inc. will post -2.55 earnings per share 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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