KLP Kapitalforvaltning AS Acquires Shares of 33,000 Insmed Incorporated (NASDAQ:INSM)

KLP Kapitalforvaltning AS bought a new position in shares of Insmed Incorporated (NASDAQ:INSM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 33,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,278,000.

A number of other large investors have also made changes to their positions in the stock. Vestal Point Capital LP lifted its position in Insmed by 113.3% during the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after buying an additional 850,000 shares in the last quarter. Eventide Asset Management LLC raised its holdings in shares of Insmed by 34.2% during the 3rd quarter. Eventide Asset Management LLC now owns 906,395 shares of the biopharmaceutical company’s stock worth $66,167,000 after acquiring an additional 231,210 shares during the period. Principal Financial Group Inc. boosted its position in shares of Insmed by 12.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock valued at $136,648,000 after acquiring an additional 214,130 shares during the last quarter. TimesSquare Capital Management LLC boosted its position in shares of Insmed by 41.4% during the 4th quarter. TimesSquare Capital Management LLC now owns 684,384 shares of the biopharmaceutical company’s stock valued at $47,250,000 after acquiring an additional 200,515 shares during the last quarter. Finally, abrdn plc grew its holdings in shares of Insmed by 159.5% in the fourth quarter. abrdn plc now owns 289,653 shares of the biopharmaceutical company’s stock valued at $19,998,000 after purchasing an additional 178,041 shares during the period.

Insider Buying and Selling

In other news, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.03, for a total value of $1,519,312.50. Following the completion of the transaction, the chief executive officer now owns 334,186 shares in the company, valued at approximately $27,079,091.58. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Martina M.D. Flammer sold 6,172 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $63.64, for a total transaction of $392,786.08. Following the sale, the insider now owns 101,549 shares in the company, valued at $6,462,578.36. The trade was a 5.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 550,957 shares of company stock valued at $42,992,528 in the last three months. 4.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on INSM shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a report on Wednesday, February 19th. Truist Financial increased their price objective on Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Wells Fargo & Company lifted their target price on Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Stifel Nicolaus decreased their price target on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Finally, Morgan Stanley raised their price objective on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

Insmed Trading Up 1.5 %

NASDAQ INSM opened at $77.69 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The firm has a market cap of $14.06 billion, a price-to-earnings ratio of -13.90 and a beta of 1.28. The firm has a 50 day simple moving average of $78.07 and a 200-day simple moving average of $73.93. Insmed Incorporated has a one year low of $21.92 and a one year high of $84.91.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.15). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The business had revenue of $104.44 million during the quarter, compared to analysts’ expectations of $102.31 million. Equities research analysts anticipate that Insmed Incorporated will post -4.56 EPS 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.