Nomura Asset Management Co. Ltd. Boosts Stake in Insmed, Inc. $INSM

Nomura Asset Management Co. Ltd. raised its position in Insmed, Inc. (NASDAQ:INSM) by 2,384.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,544 shares of the biopharmaceutical company’s stock after buying an additional 80,181 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Insmed were worth $14,540,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of INSM. CIBC Private Wealth Group LLC lifted its position in shares of Insmed by 42.1% during the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 53 shares during the last quarter. CoreCap Advisors LLC bought a new position in shares of Insmed during the fourth quarter worth about $27,000. SBI Securities Co. Ltd. lifted its position in shares of Insmed by 404.9% during the third quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 166 shares during the last quarter. GraniteShares Advisors LLC bought a new position in shares of Insmed during the fourth quarter worth about $30,000. Finally, RiverPark Advisors LLC bought a new position in shares of Insmed during the third quarter worth about $38,000.

Insider Buying and Selling at Insmed

In other Insmed news, COO Roger Adsett sold 88,060 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total value of $14,497,317.80. Following the sale, the chief operating officer owned 106,810 shares in the company, valued at approximately $17,584,130.30. This trade represents a 45.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Alexander Smith sold 6,149 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $108.47, for a total transaction of $666,982.03. Following the completion of the sale, the insider owned 41,613 shares in the company, valued at $4,513,762.11. The trade was a 12.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 156,643 shares of company stock worth $24,513,766. 2.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

INSM has been the topic of several research analyst reports. Barclays increased their price target on shares of Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Jefferies Financial Group assumed coverage on shares of Insmed in a report on Monday, March 16th. They issued a “buy” rating and a $228.00 target price on the stock. Stifel Nicolaus raised their target price on shares of Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. HC Wainwright reissued a “buy” rating on shares of Insmed in a report on Friday, May 8th. Finally, Raymond James Financial assumed coverage on shares of Insmed in a report on Friday, April 10th. They issued an “outperform” rating and a $200.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $210.95.

Insmed Stock Performance

Shares of NASDAQ INSM opened at $103.73 on Wednesday. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The firm’s 50-day moving average price is $133.66 and its two-hundred day moving average price is $157.25. Insmed, Inc. has a 52-week low of $70.57 and a 52-week high of $212.75. The stock has a market capitalization of $22.48 billion, a P/E ratio of -18.04 and a beta of 0.79.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The company had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same quarter last year, the business earned ($1.42) earnings per share. Insmed’s revenue was up 229.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Insmed, Inc. will post -2.52 earnings per share for the current year.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.