Simon Quick Advisors LLC Invests $8.19 Million in Insmed, Inc. $INSM

Key Points

• Simon Quick Advisors LLC opened a new position in Insmed during the first quarter, buying 50,065 shares valued at about $8.19 million.
• Insmed reported stronger-than-expected quarterly results, posting a smaller-than-expected loss of ($0.76) per share and revenue of $305.96 million, which was up 229.7% year over year.
• Analysts remain largely positive on the stock, with a consensus rating of Moderate Buy and an average price target of $211.05, even as insiders have recently sold shares, including CEO William Lewis.

Simon Quick Advisors LLC acquired a new stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 50,065 shares of the biopharmaceutical company's stock, valued at approximately $8,187,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC grew its position in Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 53 shares during the period. CoreCap Advisors LLC bought a new position in shares of Insmed during the 4th quarter valued at $27,000. GraniteShares Advisors LLC bought a new position in shares of Insmed during the 4th quarter valued at $30,000. Reflection Asset Management purchased a new position in shares of Insmed in the 4th quarter worth $30,000. Finally, Raiffeisen Bank International AG purchased a new position in shares of Insmed in the 4th quarter worth $32,000.

Insmed Stock Performance

Shares of INSM opened at $108.32 on Friday. The business has a 50-day simple moving average of $105.72 and a two-hundred day simple moving average of $135.91. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. Insmed, Inc. has a 52 week low of $90.39 and a 52 week high of $212.75. The stock 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 posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts' consensus estimates of ($0.90) by $0.14. The firm 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%.The business's quarterly revenue was up 229.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.42) EPS. On average, analysts expect that Insmed, Inc. will post -2.52 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on INSM. Wells Fargo & Company upped their price objective on Insmed from $160.00 to $161.00 and gave the company an "overweight" rating in a research report on Wednesday. Raymond James Financial began coverage on Insmed in a research report on Friday, April 10th. They issued an "outperform" rating and a $200.00 target price on the stock. Bank of America raised their target price on Insmed from $211.00 to $213.00 and gave the stock a "buy" rating in a research report on Tuesday, March 24th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Insmed in a research report on Wednesday, June 10th. Finally, Royal Bank Of Canada reduced their price target on shares of Insmed from $205.00 to $195.00 and set an "outperform" rating for the company in a research report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $211.05.

Insider Activity

In other Insmed news, CEO William Lewis sold 10,699 shares of Insmed stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $117.40, for a total transaction of $1,256,062.60. Following the transaction, the chief executive officer owned 259,058 shares of the company's stock, valued at $30,413,409.20. The trade was a 3.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 2,370 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $242,379.90. Following the completion of the transaction, the chief operating officer owned 98,603 shares of the company's stock, valued at approximately $10,084,128.81. The trade was a 2.35% decrease in their ownership of the stock. 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. Insiders have sold a total of 54,590 shares of company stock worth $5,793,738 in the last quarter. 2.10% of the stock is currently owned by insiders.

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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