BI Asset Management Fondsmaeglerselskab A S Makes New Investment in Insmed Incorporated (NASDAQ:INSM)

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Insmed Incorporated (NASDAQ:INSM) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 31,390 shares of the biopharmaceutical company’s stock, valued at approximately $2,167,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in shares of Insmed during the third quarter worth about $248,000. Tidal Investments LLC raised its holdings in shares of Insmed by 447.0% in the third quarter. Tidal Investments LLC now owns 24,102 shares of the biopharmaceutical company’s stock worth $1,759,000 after buying an additional 19,696 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Insmed by 12.9% during the third quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock worth $136,648,000 after buying an additional 214,130 shares during the period. Everence Capital Management Inc. purchased a new stake in shares of Insmed during the fourth quarter valued at $352,000. Finally, Harbor Capital Advisors Inc. increased its position in shares of Insmed by 237.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 59,600 shares of the biopharmaceutical company’s stock valued at $4,115,000 after acquiring an additional 41,918 shares during the period.

Insider Buying and Selling at Insmed

In other news, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $77.94, for a total value of $1,461,375.00. Following the transaction, the chief executive officer now directly owns 379,534 shares of the company’s stock, valued at approximately $29,580,879.96. This trade represents a 4.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Martina M.D. Flammer sold 33,055 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $80.90, for a total transaction of $2,674,149.50. Following the completion of the sale, the insider now owns 138,053 shares of the company’s stock, valued at approximately $11,168,487.70. The trade was a 19.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 471,797 shares of company stock worth $37,621,239. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on INSM. UBS Group boosted their price target on Insmed from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. lifted their price objective on shares of Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Truist Financial raised their target price on shares of Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a report on Wednesday, February 19th. Finally, HC Wainwright reiterated a “buy” rating and set a $90.00 price objective on shares of Insmed in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

Insmed Stock Down 4.3 %

Shares of NASDAQ INSM opened at $69.51 on Tuesday. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $84.91. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The company’s 50-day simple moving average is $75.14 and its 200-day simple moving average is $73.59. The firm has a market cap of $12.64 billion, a price-to-earnings ratio of -12.43 and a beta of 1.07.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The firm had revenue of $104.44 million for the quarter, compared to analyst estimates of $102.31 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. Equities analysts predict that Insmed Incorporated will post -4.56 EPS for the current fiscal year.

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.