Sumitomo Mitsui Trust Group Inc. Purchases Shares of 435,442 Insmed, Inc. $INSM

Key Points

• Sumitomo Mitsui Trust Group acquired a new position of 435,442 shares of Insmed (NASDAQ:INSM) in Q4, valued at about $75.78 million and representing roughly 0.20% ownership.
• Research analysts show a consensus "Buy" on INSM with a consensus target price of $212.82, while several firms have recently initiated or raised targets (e.g., Jefferies $228, RBC $216, BofA $213).
• Insiders have been net sellers — COO Roger Adsett sold 88,060 shares (~$14.5M) on April 1, and insiders sold 179,777 shares (~$28.4M) in the past three months, leaving insiders with about 2.10% ownership.

Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 435,442 shares of the biopharmaceutical company's stock, valued at approximately $75,784,000. Sumitomo Mitsui Trust Group Inc. owned approximately 0.20% of Insmed as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of INSM. CIBC Private Wealth Group LLC raised its position in shares of Insmed by 42.1% during the third 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 acquired a new position in shares of Insmed in the 4th quarter valued at $27,000. Stone House Investment Management LLC purchased a new position in Insmed in the 3rd quarter worth about $29,000. SBI Securities Co. Ltd. raised its holdings in Insmed by 404.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company's stock worth $30,000 after buying an additional 166 shares during the period. Finally, GraniteShares Advisors LLC purchased a new stake in Insmed during the fourth quarter valued at about $30,000.

Analyst Ratings Changes

INSM has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on shares of Insmed in a research report on Monday, March 16th. They issued a "buy" rating and a $228.00 target price on the stock. Wolfe Research set a $167.00 price objective on shares of Insmed and gave the stock an "outperform" rating in a research note on Thursday, December 18th. Royal Bank Of Canada lifted their price objective on shares of Insmed from $212.00 to $216.00 and gave the stock an "outperform" rating in a research report on Tuesday. Bank of America boosted their target price on shares of Insmed from $211.00 to $213.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. Finally, Truist Financial set a $205.00 target price on Insmed in a report on Monday, January 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Insmed currently has a consensus rating of "Buy" and a consensus target price of $212.82.

Insmed Stock Performance

INSM stock opened at $153.36 on Wednesday. The firm has a 50 day simple moving average of $150.34 and a 200 day simple moving average of $167.60. Insmed, Inc. has a 52 week low of $63.81 and a 52 week high of $212.75. The stock has a market cap of $33.10 billion, a P/E ratio of -23.93 and a beta of 1.10. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.54 and a current ratio of 3.83.

Insmed (NASDAQ:INSM - Get Free Report) last released its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.07) by ($0.47). The company had revenue of $263.84 million during the quarter, compared to analysts' expectations of $263.97 million. Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The firm's quarterly revenue was up 152.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.32) EPS. Research analysts anticipate that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Insider Transactions at Insmed

In related news, COO Roger Adsett sold 88,060 shares of Insmed stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $164.63, for a total transaction of $14,497,317.80. Following the completion of the sale, the chief operating officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sara Bonstein sold 748 shares of the business's stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $156.34, for a total value of $116,942.32. Following the completion of the transaction, the chief financial officer owned 79,758 shares in the company, valued at $12,469,365.72. This trade represents a 0.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 179,777 shares of company stock valued at $28,412,777 in the last three months. 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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