Insmed, Inc. (NASDAQ:INSM) Holdings Decreased by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Insmed, Inc. by 4.7%, now holding 502,232 shares valued at approximately $38.3 million after selling 24,658 shares in the first quarter.
• Insmed's stock traded up 3.2%, reaching $105.00, with a market capitalization of $19.92 billion and a quarterly revenue increase of 22.9% year-over-year.
• Analysts have issued positive ratings for Insmed, with 17 analysts giving a buy rating, and price targets raised to as high as $111.00, suggesting strong confidence in the stock's potential.

TD Asset Management Inc lessened its stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 4.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 502,232 shares of the biopharmaceutical company's stock after selling 24,658 shares during the quarter. TD Asset Management Inc owned 0.28% of Insmed worth $38,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Teachers Retirement System of The State of Kentucky bought a new position in shares of Insmed during the 1st quarter worth approximately $975,000. OneDigital Investment Advisors LLC increased its holdings in Insmed by 47.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 5,226 shares of the biopharmaceutical company's stock valued at $399,000 after purchasing an additional 1,673 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in Insmed during the 1st quarter valued at $255,000. GAMMA Investing LLC increased its holdings in Insmed by 62.0% during the 1st quarter. GAMMA Investing LLC now owns 1,009 shares of the biopharmaceutical company's stock valued at $77,000 after purchasing an additional 386 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Insmed by 16.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,772 shares of the biopharmaceutical company's stock valued at $288,000 after purchasing an additional 541 shares in the last quarter.

Insider Activity

In other news, insider Michael Alexander Smith sold 933 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $102.51, for a total transaction of $95,641.83. Following the completion of the sale, the insider owned 66,394 shares in the company, valued at $6,806,048.94. This trade represents a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Lewis sold 6,830 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $102.37, for a total transaction of $699,187.10. Following the sale, the chief executive officer directly owned 233,924 shares in the company, valued at approximately $23,946,799.88. The trade was a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 599,767 shares of company stock worth $54,625,108 in the last ninety days. Corporate insiders own 3.00% of the company's stock.

Insmed Trading Up 0.2%

Insmed stock traded up $0.24 during midday trading on Friday, reaching $107.52. The stock had a trading volume of 1,163,060 shares, compared to its average volume of 2,754,865. The company has a quick ratio of 5.44, a current ratio of 5.86 and a debt-to-equity ratio of 11.38. The firm has a market cap of $20.40 billion, a price-to-earnings ratio of -18.08 and a beta of 0.90. The company has a fifty day moving average of $93.59 and a 200 day moving average of $80.77. Insmed, Inc. has a 52-week low of $60.40 and a 52-week high of $108.64.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.36) by ($0.06). The business had revenue of $92.82 million for the quarter, compared to the consensus estimate of $91.63 million. Insmed had a negative net margin of 265.93% and a negative return on equity of 446.98%. Insmed's revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.06) earnings per share. On average, analysts anticipate that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INSM has been the subject of a number of research analyst reports. UBS Group decreased their target price on Insmed from $110.00 to $109.00 and set a "buy" rating for the company in a research note on Friday, May 9th. The Goldman Sachs Group increased their price target on Insmed from $100.00 to $112.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Insmed in a report on Tuesday, June 10th. HC Wainwright raised their target price on Insmed from $90.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Finally, Morgan Stanley lifted their price objective on Insmed from $102.00 to $108.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $109.20.

About Insmed

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed's first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.