Railway Pension Investments Ltd acquired a new stake in Insmed, Inc. (NASDAQ:INSM - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 604,700 shares of the biopharmaceutical company's stock, valued at approximately $64,473,000. Railway Pension Investments Ltd owned about 0.28% of Insmed at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Insmed by 65.6% in the second quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company's stock valued at $67,000 after acquiring an additional 263 shares in the last quarter. First Trust Advisors LP increased its position in Insmed by 80.8% during 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 during the period. Baird Financial Group Inc. acquired a new position in Insmed during the 2nd quarter worth approximately $2,589,000. Amundi raised its stake in shares of Insmed by 21,194.4% during the 2nd quarter. Amundi now owns 11,499 shares of the biopharmaceutical company's stock worth $1,130,000 after buying an additional 11,445 shares in the last quarter. Finally, Natixis acquired a new stake in shares of Insmed in the 2nd quarter valued at approximately $1,072,000.
Wall Street Analysts Forecast Growth
INSM has been the subject of several research reports. HC Wainwright reaffirmed a "buy" rating on shares of Insmed in a research note on Monday, August 10th. JPMorgan Chase & Co. reduced their price target on shares of Insmed from $179.00 to $175.00 and set an "overweight" rating on the stock in a report on Monday, August 10th. Roth Capital reissued a "buy" rating on shares of Insmed in a research note on Monday, June 8th. Evercore restated an "outperform" rating and issued a $170.00 price objective on shares of Insmed in a research report on Friday, August 7th. Finally, UBS Group reaffirmed a "buy" rating and issued a $172.00 target price on shares of Insmed in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $205.52.
Check Out Our Latest Research Report on Insmed
Insmed Stock Performance
Insmed stock opened at $121.82 on Tuesday. The firm has a market capitalization of $26.60 billion, a PE ratio of -29.64 and a beta of 0.81. Insmed, Inc. has a one year low of $90.39 and a one year high of $212.75. The stock's 50 day moving average price is $114.10 and its 200 day moving average price is $125.70. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.40 and a current ratio of 3.72.
Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.61. The company had revenue of $425.49 million during the quarter, compared to the consensus estimate of $395.50 million. Insmed had a negative net margin of 76.94% and a negative return on equity of 123.94%. Insmed's revenue for the quarter was up 296.1% on a year-over-year basis. During the same quarter last year, the company earned ($1.70) earnings per share. As a group, sell-side analysts expect that Insmed, Inc. will post -1.83 EPS for the current fiscal year.
Insider Activity
In other Insmed news, COO Roger Adsett sold 239,850 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $133.27, for a total value of $31,964,809.50. Following the completion of the transaction, the chief operating officer directly owned 98,744 shares of the company's stock, valued at $13,159,612.88. This represents a 70.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Alexander Smith sold 2,159 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $220,800.93. Following the sale, the insider owned 39,454 shares of the company's stock, valued at approximately $4,034,960.58. This trade represents a 5.19% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 288,291 shares of company stock worth $37,091,566. 2.10% of the stock is owned by corporate insiders.
About Insmed
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding INSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Insmed, Inc. (NASDAQ:INSM - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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