ProShare Advisors LLC Grows Position in Insmed, Inc. $INSM

Key Points

• ProShare Advisors LLC dramatically increased its stake in Insmed, boosting its holdings by 4,425.1% in the fourth quarter to 340,740 shares valued at about $59.3 million.
• Insmed reported better-than-expected quarterly results, with EPS of -$0.76 versus estimates of -$0.90 and revenue of $305.96 million, up 229.7% year over year.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $210.95, despite recent insider selling and mixed ratings.

ProShare Advisors LLC increased its position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 4,425.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 340,740 shares of the biopharmaceutical company's stock after purchasing an additional 333,210 shares during the period. ProShare Advisors LLC owned approximately 0.16% of Insmed worth $59,302,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in INSM. Vanguard Group Inc. boosted its holdings in Insmed by 13.0% during the 3rd quarter. Vanguard Group Inc. now owns 19,935,820 shares of the biopharmaceutical company's stock valued at $2,870,957,000 after acquiring an additional 2,291,328 shares during the period. Artisan Partners Limited Partnership boosted its holdings in Insmed by 49.0% during 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 during the period. Orbis Allan Gray Ltd purchased a new position in Insmed during the 2nd quarter valued at $153,389,000. Darwin Global Management Ltd. boosted its holdings in Insmed by 5.8% during the 3rd quarter. Darwin Global Management Ltd. now owns 20,457,445 shares of the biopharmaceutical company's stock valued at $2,897,797,000 after acquiring an additional 1,112,824 shares during the period. Finally, Bank of Nova Scotia purchased a new position in Insmed during the 3rd quarter valued at $72,904,000.

Insmed Price Performance

Shares of INSM opened at $107.41 on Wednesday. The company has a market cap of $23.28 billion, a price-to-earnings ratio of -18.68 and a beta of 0.89. Insmed, Inc. has a twelve month low of $64.85 and a twelve month high of $212.75. 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 of $139.95 and a two-hundred day moving average of $162.42.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating analysts' consensus estimates of ($0.90) by $0.14. The company had revenue of $305.96 million during the quarter, compared to analysts' expectations of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The firm's revenue was up 229.7% compared to the same quarter last year. During the same period last year, the business posted ($1.42) earnings per share. As a group, analysts predict that Insmed, Inc. will post -2.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Insmed news, CEO William Lewis sold 10,699 shares of Insmed 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 owned 301,185 shares of the company's stock, valued at approximately $43,361,604.45. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Alexander Smith sold 19,638 shares of the business's 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 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 SEC filing for this sale provides additional information. Insiders sold a total of 161,193 shares of company stock valued at $25,462,012 over the last 90 days. Insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on INSM. Leerink Partners boosted their price objective on Insmed from $210.00 to $215.00 and gave the company an "outperform" rating in a report on Tuesday, March 24th. Jefferies Financial Group began coverage on shares of Insmed in a research report on Monday, March 16th. They issued a "buy" rating and a $228.00 price objective for the company. HC Wainwright reissued a "buy" rating on shares of Insmed in a research report on Friday, May 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Insmed in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada lowered their price objective on shares of Insmed from $220.00 to $205.00 and set an "outperform" rating for the company in a research report on Friday, May 8th. One 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $210.95.

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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