Simplify Asset Management Inc. Grows Position in Insmed, Inc. $INSM

Key Points

• Simplify Asset Management increased its Insmed stake by 87.6% in the fourth quarter, now holding 36,890 shares worth about $6.42 million.
• Wall Street remains broadly positive on Insmed, with 23 Buy ratings, one Strong Buy, and one Sell; the stock’s average price target is $210.95.
• Insmed reported a stronger-than-expected quarter, posting EPS of -$0.76 versus estimates of -$0.90 and revenue of $305.96 million, up 229.7% year over year, even as insiders recently sold shares.

Simplify Asset Management Inc. boosted its position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 87.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,890 shares of the biopharmaceutical company's stock after buying an additional 17,226 shares during the period. Insmed accounts for approximately 0.1% of Simplify Asset Management Inc.'s portfolio, making the stock its 29th biggest holding. Simplify Asset Management Inc.'s holdings in Insmed were worth $6,420,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. CoreCap Advisors LLC acquired a new stake in shares of Insmed in the fourth quarter valued at approximately $27,000. GraniteShares Advisors LLC acquired a new stake in shares of Insmed in the fourth quarter valued at approximately $30,000. CIBC Private Wealth Group LLC boosted its holdings in shares of Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock valued at $26,000 after acquiring an additional 53 shares during the period. SBI Securities Co. Ltd. boosted its holdings in shares of Insmed by 404.9% in the third quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company's stock valued at $30,000 after acquiring an additional 166 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Insmed by 169.7% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company's stock valued at $38,000 after acquiring an additional 151 shares during the period.

Analysts Set New Price Targets

Several research firms have recently weighed in on INSM. Raymond James Financial began coverage on Insmed in a report on Friday, April 10th. They issued an "outperform" rating and a $200.00 price objective for the company. Guggenheim decreased their price objective on Insmed from $230.00 to $226.00 and set a "buy" rating for the company in a report on Friday, May 8th. Mizuho increased their price objective on Insmed from $204.00 to $206.00 and gave the company an "outperform" rating in a report on Wednesday, March 25th. Bank of America increased their price objective on Insmed from $211.00 to $213.00 and gave the company a "buy" rating in a report on Tuesday, March 24th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Insmed in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $210.95.

Insiders Place Their Bets

In other Insmed news, insider Michael Alexander Smith sold 6,149 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $108.47, for a total transaction of $666,982.03. Following the completion of the sale, the insider directly owned 41,613 shares of the company's stock, valued at approximately $4,513,762.11. This trade represents a 12.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 88,060 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $164.63, for a total value of $14,497,317.80. Following the transaction, the chief operating officer directly owned 106,810 shares of the company's stock, valued at approximately $17,584,130.30. This trade represents a 45.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 156,643 shares of company stock valued at $24,513,766. 2.10% of the stock is owned by company insiders.

Insmed Price Performance

Insmed stock opened at $106.24 on Monday. Insmed, Inc. has a twelve month low of $65.56 and a twelve month high of $212.75. The stock has a 50 day moving average of $137.89 and a two-hundred day moving average of $160.69. 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 stock has a market capitalization of $23.03 billion, a price-to-earnings ratio of -18.48 and a beta of 0.89.

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, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $300.81 million. During the same period last year, the firm earned ($1.42) EPS. The firm's revenue for the quarter was up 229.7% on a year-over-year basis. As a group, research analysts expect that Insmed, Inc. will post -2.52 earnings per share for the current year.

About Insmed

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.