Profund Advisors LLC Acquires 16,471 Shares of Insmed, Inc. $INSM

Key Points

• Profund Advisors LLC increased its stake in Insmed by 144.8% in the fourth quarter, buying 16,471 additional shares and bringing its total holdings to 27,844 shares worth about $4.85 million.
• Analysts remain broadly positive on Insmed, with a consensus rating of “Moderate Buy” and an average price target of $210.95. Recent updates included new coverage from Raymond James at $200 and upgrades from Morgan Stanley to overweight with a $212 target.
• Insmed reported better-than-expected quarterly results, posting a smaller-than-expected loss and revenue of $305.96 million, up 229.7% year over year. However, the stock was trading well below its 50-day and 200-day moving averages, and insiders have sold shares in recent months.

Profund Advisors LLC boosted its holdings in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 144.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,844 shares of the biopharmaceutical company's stock after acquiring an additional 16,471 shares during the period. Profund Advisors LLC's holdings in Insmed were worth $4,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CoreCap Advisors LLC bought a new position in Insmed during the 4th quarter worth about $27,000. GraniteShares Advisors LLC bought a new position in Insmed during the 4th quarter worth about $30,000. CIBC Private Wealth Group LLC grew its holdings in Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock worth $26,000 after acquiring an additional 53 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings 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 buying an additional 166 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Insmed by 169.7% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company's stock valued at $38,000 after buying an additional 151 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently weighed in on INSM shares. Raymond James Financial started coverage on shares of Insmed in a report on Friday, April 10th. They issued an "outperform" rating and a $200.00 price target on the stock. Guggenheim lowered their price target on shares of Insmed from $230.00 to $226.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Mizuho raised their price target on shares of Insmed from $204.00 to $206.00 and gave the company an "outperform" rating in a report on Wednesday, March 25th. HC Wainwright restated a "buy" rating on shares of Insmed in a report on Friday, May 8th. Finally, Morgan Stanley upgraded shares of Insmed from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $166.00 to $212.00 in a report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.95.

Insmed Stock Performance

Shares of Insmed stock opened at $107.15 on Tuesday. The firm has a market capitalization of $23.22 billion, a P/E ratio of -18.63 and a beta of 0.89. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average price of $140.60 and a 200 day moving average price of $162.84. Insmed, Inc. has a 52 week low of $64.85 and a 52 week high of $212.75.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. The firm had revenue of $305.96 million during the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. Insmed's revenue was up 229.7% on a year-over-year basis. During the same period last year, the firm posted ($1.42) EPS. Sell-side analysts expect that Insmed, Inc. will post -2.52 EPS for the current year.

Insider Activity at Insmed

In related news, insider Michael Alexander Smith sold 19,638 shares of the stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $150.98, for a total value of $2,964,945.24. Following the completion of the transaction, the insider directly owned 51,871 shares of the company's stock, valued at $7,831,483.58. This trade represents a 27.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William Lewis sold 10,699 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $143.97, for a total transaction 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 $43,361,604.45. The trade was a 3.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 161,193 shares of company stock valued at $25,462,012 in the last three months. 2.10% of the stock is owned by insiders.

About Insmed

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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