Royal Bank of Canada Grows Stake in Insmed, Inc. $INSM

Key Points

• Royal Bank of Canada increased its stake in Insmed, Inc. by 33.2%, owning 245,262 shares valued at approximately $18.71 million as of the latest SEC filing.
• Insmed reported a quarterly revenue increase of 18.9% year-over-year, despite a larger-than-expected loss of ($1.70 EPS) compared to analysts' estimates of ($1.30 EPS).
• Multiple analysts have raised their price targets for Insmed, with Royal Bank of Canada and JPMorgan Chase setting higher objectives at $120.00 and $135.00, respectively, suggesting a positive outlook for the stock.

Royal Bank of Canada increased its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 33.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 245,262 shares of the biopharmaceutical company's stock after acquiring an additional 61,190 shares during the quarter. Royal Bank of Canada owned about 0.13% of Insmed worth $18,710,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Insmed by 0.3% in the first quarter. Vanguard Group Inc. now owns 18,268,122 shares of the biopharmaceutical company's stock worth $1,393,675,000 after purchasing an additional 49,149 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Insmed by 1.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,923,541 shares of the biopharmaceutical company's stock worth $985,938,000 after buying an additional 219,131 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Insmed by 3.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,602,655 shares of the biopharmaceutical company's stock worth $122,267,000 after buying an additional 56,048 shares during the period. Westfield Capital Management Co. LP boosted its holdings in Insmed by 49.9% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,406,609 shares of the biopharmaceutical company's stock worth $107,310,000 after buying an additional 468,058 shares during the period. Finally, GW&K Investment Management LLC boosted its holdings in Insmed by 21.3% in the 1st quarter. GW&K Investment Management LLC now owns 1,377,726 shares of the biopharmaceutical company's stock worth $105,107,000 after buying an additional 242,333 shares during the period.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Bank of America upped their target price on shares of Insmed from $94.00 to $109.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Mizuho upped their target price on shares of Insmed from $130.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. Citigroup raised shares of Insmed to a "buy" rating in a report on Tuesday, June 10th. Wells Fargo & Company upped their target price on shares of Insmed from $140.00 to $171.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Finally, Morgan Stanley upped their target price on shares of Insmed from $126.00 to $144.00 and gave the stock an "equal weight" rating in a report on Thursday, August 21st. Sixteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $139.86.

Insider Activity

In other news, CFO Sara Bonstein sold 58,400 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $102.67, for a total transaction of $5,995,928.00. Following the sale, the chief financial officer directly owned 73,505 shares in the company, valued at approximately $7,546,758.35. This represents a 44.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Roger Adsett sold 25,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $127.58, for a total transaction of $3,189,500.00. Following the transaction, the chief operating officer owned 105,637 shares in the company, valued at $13,477,168.46. The trade was a 19.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 378,382 shares of company stock worth $40,169,038. 3.00% of the stock is owned by insiders.

Insmed Price Performance

Shares of Insmed stock traded up $0.14 during trading hours on Friday, reaching $145.93. The company's stock had a trading volume of 1,926,423 shares, compared to its average volume of 2,206,758. The firm has a 50 day moving average price of $119.40 and a 200-day moving average price of $91.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 6.68 and a quick ratio of 6.33. The stock has a market cap of $30.85 billion, a P/E ratio of -25.56 and a beta of 0.97. Insmed, Inc. has a one year low of $60.40 and a one year high of $149.08.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.30) by ($0.40). The business had revenue of $107.42 million for the quarter, compared to analysts' expectations of $104.06 million. Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The firm's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.94) earnings per share. Insmed has set its FY 2025 guidance at EPS. On average, analysts predict that Insmed, Inc. will post -4.56 EPS for the current year.

Insmed Company Profile

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed's first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.