Pictet Asset Management Holding SA Sells 181,864 Shares of Insmed, Inc. $INSM

Key Points

• Pictet Asset Management trimmed its stake in Insmed by 15.9%, selling 181,864 shares and ending the quarter with 958,963 shares worth about $167.3 million (≈0.45% of the company).
• Insmed missed quarterly EPS estimates (reported ($1.54) vs. consensus ($1.07)) while revenue rose 152.6% YoY to $263.84M; despite the earnings miss, analysts retain a consensus Buy rating with an average target of $213.23.
• Insider selling has been heavy recently — insiders sold 179,777 shares (~$28.25M) over the last 90 days, including COO Roger Adsett’s 88,060-share sale, leaving insiders with 2.10% ownership.

Pictet Asset Management Holding SA decreased its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 15.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 958,963 shares of the biopharmaceutical company's stock after selling 181,864 shares during the period. Pictet Asset Management Holding SA owned 0.45% of Insmed worth $167,257,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its stake in Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock valued at $26,000 after buying an additional 53 shares during the period. CoreCap Advisors LLC acquired a new stake in shares of Insmed in the 4th quarter valued at approximately $27,000. Stone House Investment Management LLC acquired a new stake in shares of Insmed in the 3rd quarter valued at approximately $29,000. SBI Securities Co. Ltd. raised its position in shares of Insmed by 404.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company's stock valued at $30,000 after acquiring an additional 166 shares during the period. Finally, GraniteShares Advisors LLC acquired a new stake in shares of Insmed in the 4th quarter valued at approximately $30,000.

Insmed Trading Up 0.6%

NASDAQ INSM opened at $135.98 on Tuesday. The firm has a market cap of $29.35 billion, a P/E ratio of -21.21 and a beta of 1.10. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.83 and a quick ratio of 3.54. The stock's 50-day moving average is $149.01 and its 200-day moving average is $166.81. Insmed, Inc. has a one year low of $63.81 and a one year high of $212.75.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) EPS for the quarter, missing analysts' consensus estimates of ($1.07) by ($0.47). The business had revenue of $263.84 million for the quarter, compared to analyst estimates of $263.97 million. Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The company's revenue for the quarter was up 152.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.32) EPS. Sell-side analysts anticipate that Insmed, Inc. will post -2.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on INSM. Bank of America upped their target price on shares of Insmed from $211.00 to $213.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Insmed in a research note on Tuesday, April 21st. Barclays upped their target price on shares of Insmed from $231.00 to $237.00 and gave the company an "overweight" rating in a research note on Wednesday, April 1st. Stifel Nicolaus upped their target price on shares of Insmed from $205.00 to $208.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. Finally, Royal Bank Of Canada upped their target price on shares of Insmed from $212.00 to $216.00 and gave the company an "outperform" rating in a research note on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Insmed has a consensus rating of "Buy" and an average target price of $213.23.

Insider Transactions at Insmed

In other news, insider Michael Alexander Smith sold 19,638 shares of the firm's stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $150.98, for a total transaction of $2,964,945.24. Following the sale, the insider owned 51,871 shares of the company's stock, valued at $7,831,483.58. This trade represents a 27.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Roger Adsett sold 88,060 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $164.63, for a total value of $14,497,317.80. Following the transaction, the chief operating officer owned 106,810 shares of the company's stock, valued at approximately $17,584,130.30. The trade was a 45.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 179,777 shares of company stock valued at $28,252,720 over the last 90 days. 2.10% of the stock is owned by company insiders.

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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