ProShare Advisors LLC Cuts Stock Position in Insmed, Inc. $INSM

ProShare Advisors LLC decreased its holdings in Insmed, Inc. (NASDAQ:INSM) by 85.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,801 shares of the biopharmaceutical company’s stock after selling 38,688 shares during the quarter. ProShare Advisors LLC’s holdings in Insmed were worth $684,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Insmed by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 18,268,122 shares of the biopharmaceutical company’s stock worth $1,393,675,000 after buying an additional 49,149 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Insmed by 1.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,923,541 shares of the biopharmaceutical company’s stock valued at $985,938,000 after purchasing an additional 219,131 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in Insmed by 109.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 3,446,944 shares of the biopharmaceutical company’s stock worth $262,967,000 after purchasing an additional 1,799,382 shares in the last quarter. Alliancebernstein L.P. raised its position in Insmed by 2.5% in the 1st quarter. Alliancebernstein L.P. now owns 2,423,513 shares of the biopharmaceutical company’s stock valued at $184,890,000 after purchasing an additional 59,952 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Insmed by 3.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,602,655 shares of the biopharmaceutical company’s stock valued at $122,267,000 after buying an additional 56,048 shares during the period.

Insider Buying and Selling

In other news, Director Leo Lee sold 75,000 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $195.90, for a total value of $14,692,500.00. Following the completion of the sale, the director directly owned 54,677 shares of the company’s stock, valued at approximately $10,711,224.30. This represents a 57.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Melvin Md Sharoky sold 10,000 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $145.39, for a total transaction of $1,453,900.00. Following the sale, the director owned 262,675 shares of the company’s stock, valued at $38,190,318.25. This trade represents a 3.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 252,922 shares of company stock valued at $43,533,383 in the last quarter. Corporate insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on INSM shares. Bank of America upped their target price on shares of Insmed from $142.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Stifel Nicolaus boosted their price target on shares of Insmed from $121.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 14th. Wells Fargo & Company raised their price objective on shares of Insmed from $171.00 to $217.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Cantor Fitzgerald assumed coverage on shares of Insmed in a research report on Tuesday, October 28th. They set an “overweight” rating and a $192.00 price objective for the company. Finally, Truist Financial increased their target price on Insmed from $126.00 to $139.00 and gave the company a “buy” rating in a report on Thursday, August 14th. Nineteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Insmed has a consensus rating of “Moderate Buy” and a consensus target price of $173.29.

Insmed Price Performance

INSM stock opened at $201.62 on Wednesday. The company has a current ratio of 6.68, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $43.00 billion, a P/E ratio of -35.31 and a beta of 1.05. The business has a 50 day simple moving average of $164.45 and a 200-day simple moving average of $122.82. Insmed, Inc. has a twelve month low of $60.40 and a twelve month high of $203.65.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.75) EPS for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.40). Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The business had revenue of $142.34 million during the quarter, compared to analyst estimates of $114.33 million. During the same period in the previous year, the firm earned ($1.27) earnings per share. The business’s revenue was up 52.4% compared to the same quarter last year. Insmed has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Insmed, Inc. will post -4.56 EPS for the current year.

Insmed 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.