Meeder Asset Management Inc. Makes New Investment in Insmed Incorporated (NASDAQ:INSM)

Meeder Asset Management Inc. acquired a new position in shares of Insmed Incorporated (NASDAQ:INSM) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,369 shares of the biopharmaceutical company’s stock, valued at approximately $83,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale boosted its position in Insmed by 2.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 134,200 shares of the biopharmaceutical company’s stock worth $4,322,000 after purchasing an additional 3,500 shares during the period. Scout Investments Inc. boosted its position in shares of Insmed by 11.1% in the first quarter. Scout Investments Inc. now owns 324,820 shares of the biopharmaceutical company’s stock valued at $11,063,000 after acquiring an additional 32,565 shares during the period. Norges Bank bought a new stake in shares of Insmed in the fourth quarter valued at about $27,515,000. UBS Asset Management Americas Inc. boosted its position in shares of Insmed by 9.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 113,903 shares of the biopharmaceutical company’s stock valued at $3,792,000 after acquiring an additional 10,267 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Insmed in the fourth quarter valued at about $687,000.

In other news, insider John Soriano sold 45,412 shares of the company’s stock in a transaction that occurred on Wednesday, March 10th. The stock was sold at an average price of $40.38, for a total value of $1,833,736.56. Following the completion of the transaction, the insider now owns 53,490 shares of the company’s stock, valued at $2,159,926.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Lewis sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $36.19, for a total value of $1,809,500.00. Following the completion of the transaction, the chief executive officer now directly owns 229,608 shares of the company’s stock, valued at approximately $8,309,513.52. The disclosure for this sale can be found here. Corporate insiders own 4.63% of the company’s stock.

A number of equities research analysts have recently issued reports on INSM shares. Morgan Stanley reduced their target price on shares of Insmed from $58.00 to $56.00 and set an “overweight” rating for the company in a research report on Monday, May 10th. Credit Suisse Group boosted their price target on Insmed from $50.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, January 19th. Finally, Zacks Investment Research downgraded Insmed from a “buy” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $51.38.

Shares of NASDAQ INSM opened at $26.23 on Friday. The company has a current ratio of 7.95, a quick ratio of 7.43 and a debt-to-equity ratio of 1.03. The company has a market cap of $2.71 billion, a price-to-earnings ratio of -10.09 and a beta of 2.43. Insmed Incorporated has a 12 month low of $23.46 and a 12 month high of $45.44. The stock has a 50-day moving average price of $33.00 and a two-hundred day moving average price of $36.55.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, May 6th. The biopharmaceutical company reported ($0.89) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.91) by $0.02. The firm had revenue of $40.21 million during the quarter, compared to the consensus estimate of $41.64 million. Insmed had a negative return on equity of 79.58% and a negative net margin of 145.14%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.74) earnings per share. On average, sell-side analysts predict that Insmed Incorporated will post -2.63 earnings per share for the current 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.

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Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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