SEB Asset Management AB Makes New $27.07 Million Investment in Insmed, Inc. $INSM

Key Points

• SEB Asset Management AB opened a new position in Insmed during the first quarter, buying 165,576 shares valued at about $27.1 million.
• Insmed reported better-than-expected first-quarter earnings, with EPS of -$0.76 versus estimates of -$0.90 and revenue of $305.96 million, up 229.7% year over year.
• Analysts remain broadly bullish on the stock, with a Moderate Buy consensus and an average price target of $211.05, even as some insiders recently sold shares for tax withholding purposes.

SEB Asset Management AB bought a new position in Insmed, Inc. (NASDAQ:INSM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 165,576 shares of the biopharmaceutical company's stock, valued at approximately $27,075,000. SEB Asset Management AB owned approximately 0.08% of Insmed as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Insmed by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company's stock worth $3,668,127,000 after acquiring an additional 1,140,524 shares during the last quarter. Darwin Global Management Ltd. boosted its stake in Insmed by 2.3% during the 4th quarter. Darwin Global Management Ltd. now owns 20,933,277 shares of the biopharmaceutical company's stock valued at $3,644,274,000 after purchasing an additional 475,832 shares during the last quarter. State Street Corp boosted its stake in Insmed by 30.6% during the 4th quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company's stock valued at $905,312,000 after purchasing an additional 1,217,390 shares during the last quarter. RTW Investments LP increased its holdings in shares of Insmed by 57.0% in the 4th quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company's stock worth $842,855,000 after purchasing an additional 1,758,321 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Insmed by 14.4% in the 4th quarter. Geode Capital Management LLC now owns 4,299,052 shares of the biopharmaceutical company's stock worth $751,936,000 after purchasing an additional 539,625 shares in the last quarter.

Insmed Stock Performance

Shares of INSM stock opened at $108.32 on Monday. Insmed, Inc. has a 1 year low of $90.39 and a 1 year high of $212.75. The firm has a fifty day moving average price of $105.72 and a 200-day moving average price of $135.63. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The company has a market cap of $23.48 billion, a price-to-earnings ratio of -18.84 and a beta of 0.78.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping analysts' consensus estimates of ($0.90) by $0.14. The company had revenue of $305.96 million for 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%.Insmed's revenue for the quarter was up 229.7% compared to the same quarter last year. During the same period last year, the firm earned ($1.42) EPS. As a group, equities analysts predict that Insmed, Inc. will post -2.43 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Roger Adsett sold 2,370 shares of Insmed stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $242,379.90. Following the transaction, the chief operating officer directly owned 98,603 shares of the company's stock, valued at $10,084,128.81. The trade was a 2.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sara Bonstein sold 2,404 shares of Insmed stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $245,857.08. Following the transaction, the chief financial officer directly owned 69,082 shares in the company, valued at approximately $7,065,016.14. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 54,590 shares of company stock worth $5,793,738 over the last ninety days. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Stifel Nicolaus upped their price target on Insmed from $205.00 to $208.00 and gave the company a "buy" rating in a report on Tuesday, March 24th. Wells Fargo & Company boosted their target price on Insmed from $160.00 to $161.00 and gave the stock an "overweight" rating in a research report on Wednesday. Leerink Partners upped their target price on shares of Insmed from $210.00 to $215.00 and gave the company an "outperform" rating in a research note on Tuesday, March 24th. Royal Bank Of Canada dropped their price target on shares of Insmed from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Friday, June 5th. Finally, Roth Capital reiterated a "buy" rating on shares of Insmed in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $211.05.

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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