Panagora Asset Management Inc. Lowers Stock Holdings in Insmed, Inc. $INSM

Panagora Asset Management Inc. lowered its position in Insmed, Inc. (NASDAQ:INSM) by 51.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 149,591 shares of the biopharmaceutical company’s stock after selling 157,126 shares during the quarter. Panagora Asset Management Inc.’s holdings in Insmed were worth $15,055,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Mutual of America Capital Management LLC lifted its position in shares of Insmed by 2.7% in the first quarter. Mutual of America Capital Management LLC now owns 79,141 shares of the biopharmaceutical company’s stock valued at $6,038,000 after acquiring an additional 2,093 shares in the last quarter. Cetera Investment Advisers raised its stake in Insmed by 103.7% during the 1st quarter. Cetera Investment Advisers now owns 20,679 shares of the biopharmaceutical company’s stock valued at $1,578,000 after purchasing an additional 10,525 shares during the period. LPL Financial LLC raised its stake in Insmed by 56.3% during the 1st quarter. LPL Financial LLC now owns 51,213 shares of the biopharmaceutical company’s stock valued at $3,907,000 after purchasing an additional 18,456 shares during the period. Mackenzie Financial Corp lifted its holdings in Insmed by 20.4% in the 1st quarter. Mackenzie Financial Corp now owns 13,103 shares of the biopharmaceutical company’s stock worth $1,000,000 after purchasing an additional 2,220 shares in the last quarter. Finally, Natixis Advisors LLC boosted its stake in Insmed by 40.0% in the 1st quarter. Natixis Advisors LLC now owns 29,862 shares of the biopharmaceutical company’s stock worth $2,278,000 after purchasing an additional 8,537 shares during the period.

Insider Buying and Selling at Insmed

In related news, Director Leo Lee sold 75,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was 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 in the company, valued at $10,711,224.30. This trade 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 available through this hyperlink. Also, Director Elizabeth M. Anderson sold 5,000 shares of Insmed stock in a transaction on Monday, November 24th. The stock was sold at an average price of $204.58, for a total transaction of $1,022,900.00. Following the transaction, the director directly owned 58,729 shares of the company’s stock, valued at $12,014,778.82. The trade was a 7.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 233,650 shares of company stock valued at $41,063,785. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on INSM. Jefferies Financial Group increased their price objective on shares of Insmed from $129.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. Royal Bank Of Canada raised their target price on shares of Insmed from $139.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. UBS Group boosted their price target on shares of Insmed from $194.00 to $223.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. TD Cowen raised their price objective on Insmed from $223.00 to $231.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $180.00 target price on shares of Insmed in a research report on Wednesday, October 1st. Nineteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.06.

Insmed Stock Performance

Shares of NASDAQ:INSM opened at $206.60 on Wednesday. The firm has a fifty day simple moving average of $176.45 and a two-hundred day simple moving average of $132.52. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $212.75. The company has a quick ratio of 6.33, a current ratio of 6.68 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $44.06 billion, a P/E ratio of -36.18 and a beta of 1.01.

Insmed (NASDAQ:INSM) last announced its quarterly 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). The business had revenue of $142.34 million during the quarter, compared to the consensus estimate of $114.33 million. Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The firm’s revenue was up 52.4% on a year-over-year basis. During the same period in the previous year, the business posted ($1.27) EPS. On average, analysts expect that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

About Insmed

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.