Northern Trust Corp Grows Stock Position in Insmed Incorporated (NASDAQ:INSM)

Northern Trust Corp raised its position in Insmed Incorporated (NASDAQ:INSM - Free Report) by 19.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,750,642 shares of the biopharmaceutical company's stock after buying an additional 290,678 shares during the period. Northern Trust Corp owned about 0.98% of Insmed worth $120,864,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in INSM. Norges Bank acquired a new position in Insmed during the fourth quarter valued at approximately $126,606,000. Vanguard Group Inc. increased its stake in Insmed by 6.3% in the 4th quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company's stock valued at $1,257,838,000 after buying an additional 1,075,796 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Insmed by 59.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,647,562 shares of the biopharmaceutical company's stock valued at $113,748,000 after acquiring an additional 615,000 shares during the last quarter. Capital International Investors increased its position in shares of Insmed by 9.1% during the 4th quarter. Capital International Investors now owns 7,116,997 shares of the biopharmaceutical company's stock worth $491,357,000 after purchasing an additional 593,206 shares during the last quarter. Finally, B Group Inc. acquired a new position in Insmed during the fourth quarter worth $24,164,000.

Insmed Trading Up 0.6 %

INSM stock traded up $0.41 during midday trading on Wednesday, hitting $68.28. The stock had a trading volume of 1,875,367 shares, compared to its average volume of 2,313,770. The business has a fifty day moving average price of $73.09 and a two-hundred day moving average price of $73.40. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $84.91. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The firm has a market cap of $12.41 billion, a P/E ratio of -12.21 and a beta of 0.84.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.15). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The company had revenue of $104.44 million during the quarter, compared to the consensus estimate of $102.31 million. On average, sell-side analysts predict that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on INSM. UBS Group upped their price objective on Insmed from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Morgan Stanley lifted their price target on shares of Insmed from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Guggenheim reaffirmed a "buy" rating and set a $101.00 price objective on shares of Insmed in a research report on Tuesday, February 25th. Bank of America raised their target price on Insmed from $92.00 to $96.00 and gave the company a "buy" rating in a report on Thursday, March 20th. Finally, Stifel Nicolaus decreased their price target on shares of Insmed from $97.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $94.00.

Insider Buying and Selling at Insmed

In other news, CEO William Lewis sold 6,830 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $70.16, for a total value of $479,192.80. Following the transaction, the chief executive officer now owns 233,924 shares in the company, valued at $16,412,107.84. This trade represents a 2.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Roger Adsett sold 45,605 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total transaction of $3,689,444.50. Following the completion of the sale, the chief operating officer now owns 189,157 shares of the company's stock, valued at approximately $15,302,801.30. The trade was a 19.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 368,737 shares of company stock valued at $29,364,317. Company insiders own 3.00% of the company's stock.

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.