Wealthfront Advisers LLC Takes $1.74 Million Position in Insmed, Inc. $INSM

Key Points

• Wealthfront Advisers LLC initiated a new position in Insmed, buying 9,991 shares in Q4 valued at about $1.74 million.
• Significant insider selling has occurred recently — insiders sold 179,777 shares worth roughly $28.25 million over the last 90 days, including large disposals by Michael Alexander Smith and COO Roger Adsett.
• Wall Street maintains a consensus "Buy" on INSM with an average price target of $213.23 while the stock trades near $133; the company recently missed EPS (-$1.54 vs. -$1.07) despite revenue rising ~152.6% year-over-year to $263.8M.

Wealthfront Advisers LLC bought a new stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,991 shares of the biopharmaceutical company's stock, valued at approximately $1,739,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CoreCap Advisors LLC bought a new position in shares of Insmed during the 4th quarter valued at approximately $27,000. GraniteShares Advisors LLC bought a new stake in Insmed in the fourth quarter worth $30,000. CIBC Private Wealth Group LLC lifted its position in Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock worth $26,000 after buying an additional 53 shares during the last quarter. Stone House Investment Management LLC bought a new stake in Insmed in the third quarter worth $29,000. Finally, SBI Securities Co. Ltd. lifted its position in Insmed by 404.9% in the third 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 last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on INSM. UBS Group lowered their price target on Insmed from $223.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, January 6th. Jefferies Financial Group began coverage on Insmed in a research report on Monday, March 16th. They issued a "buy" rating and a $228.00 price target for the company. Guggenheim restated a "buy" rating and issued a $230.00 price target on shares of Insmed in a research report on Thursday, April 16th. Royal Bank Of Canada raised their price target on Insmed from $212.00 to $216.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 14th. Finally, Stifel Nicolaus raised their price target on Insmed from $205.00 to $208.00 and gave the stock a "buy" rating in a research report on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Insmed currently has a consensus rating of "Buy" and a consensus price target of $213.23.

Insmed Stock Down 2.3%

NASDAQ:INSM opened at $133.26 on Friday. Insmed, Inc. has a twelve month low of $63.81 and a twelve month high of $212.75. The company has a market cap of $28.76 billion, a price-to-earnings ratio of -20.79 and a beta of 0.90. The stock has a fifty day simple moving average of $147.89 and a 200-day simple moving average of $166.21. The company has a current ratio of 3.83, a quick ratio of 3.54 and a debt-to-equity ratio of 0.76.

Insmed (NASDAQ:INSM - Get Free Report) last released its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.47). Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The business had revenue of $263.84 million for the quarter, compared to the consensus estimate of $263.97 million. During the same quarter last year, the business posted ($1.32) earnings per share. The firm's revenue for the quarter was up 152.6% compared to the same quarter last year. Analysts anticipate that Insmed, Inc. will post -2.51 EPS for the current year.

Insider Activity

In other news, insider Michael Alexander Smith sold 19,638 shares of the firm's stock in a transaction on Monday, March 30th. The stock was sold at an average price of $150.98, for a total transaction of $2,964,945.24. Following the transaction, the insider owned 51,871 shares in the company, valued at approximately $7,831,483.58. This trade represents a 27.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Roger Adsett sold 88,060 shares of the firm's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total value of $14,497,317.80. Following the transaction, the chief operating officer owned 106,810 shares in the company, valued at approximately $17,584,130.30. This represents a 45.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 179,777 shares of company stock worth $28,252,720. Company insiders own 2.10% of the company's stock.

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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