Resona Asset Management Co. Ltd. Takes $10.53 Million Position in Insmed, Inc. $INSM

Key Points

• Resona Asset Management initiated a new position in Insmed, buying 60,381 shares worth about $10.53 million in the fourth quarter.
• Analysts remain broadly positive on the biopharmaceutical company, with a consensus rating of “Moderate Buy” and an average price target of $210.95, despite some recent target cuts.
• Insmed recently reported quarterly results that beat EPS and revenue estimates, with revenue up 229.7% year over year, while insiders have also been selling shares in recent months.

Resona Asset Management Co. Ltd. bought a new stake in Insmed, Inc. (NASDAQ:INSM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 60,381 shares of the biopharmaceutical company's stock, valued at approximately $10,528,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. CIBC Private Wealth Group LLC lifted its holdings in shares of Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 53 shares during the last quarter. Kingsview Wealth Management LLC increased its position in Insmed by 2.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 2,321 shares of the biopharmaceutical company's stock valued at $334,000 after acquiring an additional 60 shares during the period. Choreo LLC increased its position in Insmed by 2.9% in the 3rd quarter. Choreo LLC now owns 2,319 shares of the biopharmaceutical company's stock valued at $334,000 after acquiring an additional 65 shares during the period. ORG Partners LLC increased its position in Insmed by 12.7% in the 4th quarter. ORG Partners LLC now owns 657 shares of the biopharmaceutical company's stock valued at $114,000 after acquiring an additional 74 shares during the period. Finally, Allworth Financial LP increased its position in Insmed by 20.5% in the 4th quarter. Allworth Financial LP now owns 635 shares of the biopharmaceutical company's stock valued at $111,000 after acquiring an additional 108 shares during the period.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank Of Canada dropped their price target on Insmed from $220.00 to $205.00 and set an "outperform" rating on the stock in a research report on Friday, May 8th. Mizuho boosted their price target on Insmed from $204.00 to $206.00 and gave the company an "outperform" rating in a research report on Wednesday, March 25th. Truist Financial dropped their price target on Insmed from $205.00 to $185.00 and set a "buy" rating on the stock in a research report on Wednesday, May 13th. Stifel Nicolaus boosted their price target on Insmed from $205.00 to $208.00 and gave the company a "buy" rating in a research report on Tuesday, March 24th. Finally, HC Wainwright restated a "buy" rating on shares of Insmed in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $210.95.

Insmed Stock Performance

NASDAQ INSM opened at $107.91 on Thursday. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The business's 50 day moving average is $139.24 and its two-hundred day moving average is $161.82. Insmed, Inc. has a 12-month low of $64.85 and a 12-month high of $212.75. The stock has a market capitalization of $23.39 billion, a price-to-earnings ratio of -18.77 and a beta of 0.89.

Insmed (NASDAQ:INSM - Get Free Report) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping 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 company had revenue of $305.96 million for the quarter, compared to analysts' expectations of $300.81 million. During the same quarter in the previous year, the firm posted ($1.42) EPS. The firm's quarterly revenue was up 229.7% on a year-over-year basis. Research analysts expect that Insmed, Inc. will post -2.52 EPS for the current year.

Insiders Place Their Bets

In other news, CEO William Lewis sold 10,699 shares of the business's stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $143.97, for a total transaction of $1,540,335.03. Following the sale, the chief executive officer owned 301,185 shares of the company's stock, valued at $43,361,604.45. The trade was a 3.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 stock was sold at an average price of $150.98, for a total value of $2,964,945.24. Following the sale, the insider directly owned 51,871 shares in the company, valued at $7,831,483.58. This trade represents a 27.46% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 150,494 shares of company stock worth $23,846,784. Company insiders own 2.10% of the company's stock.

Insmed 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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