PNC Financial Services Group Inc. Buys 933 Shares of Insmed, Inc. $INSM

PNC Financial Services Group Inc. boosted its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 8.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,576 shares of the biopharmaceutical company’s stock after purchasing an additional 933 shares during the period. PNC Financial Services Group Inc.’s holdings in Insmed were worth $1,165,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Horizon Advisors Inc. raised its stake in shares of Insmed by 24.8% in the second quarter. First Horizon Advisors Inc. now owns 936 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 186 shares during the period. ORG Partners LLC increased its holdings in Insmed by 220.2% in the 2nd quarter. ORG Partners LLC now owns 285 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 196 shares in the last quarter. Hilltop National Bank purchased a new stake in Insmed in the 2nd quarter worth approximately $28,000. Hsbc Holdings PLC raised its stake in Insmed by 1.5% during the 1st quarter. Hsbc Holdings PLC now owns 21,423 shares of the biopharmaceutical company’s stock worth $1,613,000 after acquiring an additional 315 shares during the period. Finally, Intrust Bank NA lifted its holdings in Insmed by 5.7% during the first quarter. Intrust Bank NA now owns 5,882 shares of the biopharmaceutical company’s stock valued at $449,000 after purchasing an additional 316 shares in the last quarter.

Insmed Stock Down 1.9%

INSM opened at $199.64 on Friday. The company has a market capitalization of $42.58 billion, a PE ratio of -34.96 and a beta of 1.05. The firm has a 50-day simple moving average of $166.68 and a two-hundred day simple moving average of $123.91. The company has a quick ratio of 6.33, a current ratio of 6.68 and a debt-to-equity ratio of 0.45. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $208.00.

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

Analysts Set New Price Targets

INSM has been the subject of a number of analyst reports. Morgan Stanley increased their price objective on shares of Insmed from $126.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 21st. Cowen reiterated a “buy” rating on shares of Insmed in a research note on Thursday. Stifel Nicolaus raised their price target on Insmed from $121.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Insmed in a research note on Wednesday, October 8th. Finally, William Blair initiated coverage on Insmed in a research report on Wednesday, August 20th. They set an “outperform” rating for the company. Nineteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.53.

Insider Buying and Selling at Insmed

In other news, insider Michael Alexander Smith sold 27,130 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $183.78, for a total transaction of $4,985,951.40. Following the completion of the transaction, the insider directly owned 54,902 shares in the company, valued at approximately $10,089,889.56. This represents a 33.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Melvin Md Sharoky sold 10,000 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $145.39, for a total transaction of $1,453,900.00. Following the completion of the transaction, the director directly owned 262,675 shares of the company’s stock, valued at approximately $38,190,318.25. This trade represents a 3.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 252,922 shares of company stock worth $43,533,383. Company insiders own 3.00% of the company’s stock.

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.