Insmed, Inc. $INSM Shares Bought by Royal Bank of Canada

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 stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 33.2% in the first quarter, according to the company in 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 purchasing an additional 61,190 shares during the quarter. Royal Bank of Canada owned approximately 0.13% of Insmed worth $18,710,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INSM. Mercer Global Advisors Inc. ADV purchased a new stake in Insmed during the 4th quarter worth about $227,000. Baird Financial Group Inc. purchased a new stake in Insmed in the 4th quarter valued at about $1,539,000. Cetera Investment Advisers grew its holdings in Insmed by 15.0% in the 4th quarter. Cetera Investment Advisers now owns 10,154 shares of the biopharmaceutical company's stock valued at $701,000 after buying an additional 1,321 shares during the period. Deutsche Bank AG grew its holdings in Insmed by 76.6% in the 4th quarter. Deutsche Bank AG now owns 488,966 shares of the biopharmaceutical company's stock valued at $33,758,000 after buying an additional 212,024 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Insmed by 10.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 105,313 shares of the biopharmaceutical company's stock valued at $7,270,000 after buying an additional 10,352 shares during the period.

Wall Street Analysts Forecast Growth

INSM has been the subject of several recent analyst reports. Mizuho lifted their price target on Insmed from $130.00 to $165.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Wells Fargo & Company lifted their price target on Insmed from $140.00 to $171.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Royal Bank Of Canada lifted their price target on Insmed from $108.00 to $120.00 and gave the company an "outperform" rating in a report on Friday, August 8th. HC Wainwright lifted their price target on Insmed from $90.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Finally, Leerink Partners lifted their price objective on Insmed from $100.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Sixteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Insmed currently has a consensus rating of "Moderate Buy" and an average price target of $139.86.

Insmed Trading Down 1.9%

Shares of NASDAQ INSM traded down $2.79 during midday trading on Monday, hitting $143.14. The stock had a trading volume of 1,977,946 shares, compared to its average volume of 2,126,632. The company has a market capitalization of $30.26 billion, a price-to-earnings ratio of -25.07 and a beta of 0.96. Insmed, Inc. has a 1-year low of $60.40 and a 1-year high of $149.08. The company has a quick ratio of 6.33, a current ratio of 6.68 and a debt-to-equity ratio of 0.45. The company has a fifty day moving average price of $120.32 and a 200 day moving average price of $92.52.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.30) by ($0.40). The company had revenue of $107.42 million for the quarter, compared to analyst estimates of $104.06 million. Insmed had a negative return on equity of 195.37% and a negative net margin of 259.82%.The business's revenue was up 18.9% on a year-over-year basis. During the same period last year, the firm 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 earnings per share for the current year.

Insider Activity

In related news, COO Roger Adsett sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $127.58, for a total transaction of $3,189,500.00. Following the transaction, the chief operating officer directly owned 105,637 shares of the company's stock, valued at approximately $13,477,168.46. The trade was a 19.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Melvin Md Sharoky sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $129.50, for a total value of $1,295,000.00. Following the transaction, the director directly owned 274,516 shares in the company, valued at $35,549,822. This trade represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 335,097 shares of company stock worth $39,721,648 in the last ninety days. 3.00% of the stock is currently owned by company insiders.

Insmed 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.