XTX Topco Ltd Makes New $1.62 Million Investment in Insmed, Inc. (NASDAQ:INSM)

Key Points

• XTX Topco Ltd has acquired a new position in Insmed, Inc. by purchasing 21,250 shares valued at approximately $1.62 million in the first quarter.
• Analysts have upgraded the stock, with several firms raising their price targets significantly, including JPMorgan Chase, which increased its target from $90.00 to $111.00, giving Insmed an "overweight" rating.
• Insider trading activity has been notable, with CFO Sara Bonstein selling 58,400 shares and CEO William Lewis selling 6,830 shares, indicating a decrease in their ownership stakes.

XTX Topco Ltd acquired a new position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,250 shares of the biopharmaceutical company's stock, valued at approximately $1,621,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in INSM. Darwin Global Management Ltd. grew its position in shares of Insmed by 23.5% in the 4th quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company's stock valued at $894,796,000 after acquiring an additional 2,463,261 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Insmed by 1.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,704,410 shares of the biopharmaceutical company's stock valued at $877,113,000 after acquiring an additional 123,429 shares during the period. Capital International Investors grew its position in shares of Insmed by 9.1% in the 4th quarter. Capital International Investors now owns 7,116,997 shares of the biopharmaceutical company's stock valued at $491,357,000 after acquiring an additional 593,206 shares during the period. Geode Capital Management LLC lifted its stake in shares of Insmed by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 4,087,143 shares of the biopharmaceutical company's stock worth $282,243,000 after buying an additional 273,759 shares during the last quarter. Finally, FIL Ltd lifted its stake in shares of Insmed by 8.1% during the 4th quarter. FIL Ltd now owns 2,638,160 shares of the biopharmaceutical company's stock worth $182,139,000 after buying an additional 198,412 shares during the last quarter.

Insider Buying and Selling at Insmed

In related news, insider Michael Alexander Smith sold 933 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $102.51, for a total value of $95,641.83. Following the transaction, the insider owned 66,394 shares in the company, valued at $6,806,048.94. The trade was a 1.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William Lewis sold 6,830 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $102.37, for a total transaction of $699,187.10. Following the transaction, the chief executive officer owned 233,924 shares in the company, valued at $23,946,799.88. This represents a 2.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 599,767 shares of company stock valued at $54,625,108 over the last 90 days. 3.00% of the stock is owned by corporate insiders.

Insmed Trading Up 1.3%

Shares of NASDAQ INSM traded up $1.41 during mid-day trading on Friday, hitting $108.69. The stock had a trading volume of 2,256,053 shares, compared to its average volume of 2,331,694. The company has a debt-to-equity ratio of 11.38, a quick ratio of 5.44 and a current ratio of 5.86. Insmed, Inc. has a 1 year low of $60.40 and a 1 year high of $108.89. The business has a 50 day moving average price of $94.41 and a two-hundred day moving average price of $81.12. The firm has a market cap of $20.62 billion, a P/E ratio of -18.27 and a beta of 0.95.

Insmed (NASDAQ:INSM - Get Free Report) last issued 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 company had revenue of $92.82 million for the quarter, compared to analysts' expectations of $91.63 million. Insmed had a negative net margin of 265.93% and a negative return on equity of 446.98%. The firm's revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.06) earnings per share. On average, equities analysts anticipate that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on INSM. Jefferies Financial Group restated a "buy" rating on shares of Insmed in a research note on Tuesday, June 10th. Leerink Partners raised their target price on shares of Insmed from $100.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. HC Wainwright raised their target price on shares of Insmed from $90.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Royal Bank Of Canada raised their target price on shares of Insmed from $99.00 to $106.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 11th. Finally, Wells Fargo & Company raised their target price on shares of Insmed from $119.00 to $130.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $109.20.

Insmed Company Profile

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.