Swedbank AB Takes $10.36 Million Position in Insmed, Inc. $INSM

Key Points

• Swedbank AB opened a new position in Insmed during the fourth quarter, buying 59,552 shares valued at about $10.36 million.
• Insmed has attracted continued institutional interest, with firms like Vanguard, Darwin Global, and Artisan Partners all increasing their stakes in the biopharmaceutical company.
• Analyst sentiment remains largely positive: Insmed has a Moderate Buy consensus rating and an average price target of $210.95, though recent targets have been mixed.

Swedbank AB purchased a new stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 59,552 shares of the biopharmaceutical company's stock, valued at approximately $10,364,000.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Insmed by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company's stock valued at $3,668,127,000 after purchasing an additional 1,140,524 shares in the last quarter. Darwin Global Management Ltd. boosted its stake in shares of Insmed by 5.8% during the third quarter. Darwin Global Management Ltd. now owns 20,457,445 shares of the biopharmaceutical company's stock valued at $2,897,797,000 after purchasing an additional 1,112,824 shares in the last quarter. Capital International Investors boosted its stake in shares of Insmed by 1.0% during the third quarter. Capital International Investors now owns 7,553,853 shares of the biopharmaceutical company's stock valued at $1,087,830,000 after purchasing an additional 74,994 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Insmed by 49.0% during the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company's stock valued at $711,076,000 after purchasing an additional 1,623,342 shares in the last quarter. Finally, Duquesne Family Office LLC boosted its stake in shares of Insmed by 3.0% during the third quarter. Duquesne Family Office LLC now owns 2,423,435 shares of the biopharmaceutical company's stock valued at $348,999,000 after purchasing an additional 70,000 shares in the last quarter.

Wall Street Analyst Weigh In

INSM has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price target on Insmed from $205.00 to $208.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. Mizuho lifted their price target on Insmed from $204.00 to $206.00 and gave the company an "outperform" rating in a research note on Wednesday, March 25th. Royal Bank Of Canada cut their price target on Insmed from $220.00 to $205.00 and set an "outperform" rating on the stock in a research note on Friday, May 8th. Truist Financial lowered their price objective on Insmed from $205.00 to $185.00 and set a "buy" rating for the company in a research report on Wednesday, May 13th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Insmed in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Insmed has an average rating of "Moderate Buy" and a consensus price target of $210.95.

Insmed Price Performance

Shares of INSM opened at $108.87 on Wednesday. Insmed, Inc. has a 1 year low of $65.56 and a 1 year high of $212.75. 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 capitalization of $23.60 billion, a price-to-earnings ratio of -18.93 and a beta of 0.89. The business has a 50-day moving average of $136.61 and a 200-day moving average of $159.60.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) 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 the consensus estimate of $300.81 million. During the same period last year, the company earned ($1.42) earnings per share. The firm's revenue was up 229.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Insmed, Inc. will post -2.52 earnings per share for the current year.

Insiders Place Their Bets

In other Insmed news, CEO William Lewis sold 10,699 shares of Insmed stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $143.97, for a total value of $1,540,335.03. Following the completion of the sale, the chief executive officer directly owned 301,185 shares in the company, valued at approximately $43,361,604.45. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 88,060 shares of Insmed 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 completion of the sale, the chief operating officer owned 106,810 shares of the company's stock, valued at approximately $17,584,130.30. The trade was a 45.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 156,643 shares of company stock worth $24,513,766. 2.10% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding INSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Insmed, Inc. (NASDAQ:INSM - Free Report).

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.