Polar Capital Holdings Plc Buys 50,000 Shares of Insmed Incorporated (NASDAQ:INSM)

Polar Capital Holdings Plc grew its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 7.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 730,000 shares of the biopharmaceutical company’s stock after acquiring an additional 50,000 shares during the quarter. Polar Capital Holdings Plc owned about 0.41% of Insmed worth $50,399,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of INSM. Vanguard Group Inc. lifted its position in Insmed by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock worth $1,257,838,000 after purchasing an additional 1,075,796 shares during the period. Darwin Global Management Ltd. boosted its holdings in shares of Insmed by 23.5% in the 4th quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock valued at $894,796,000 after purchasing an additional 2,463,261 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Insmed by 1.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,704,410 shares of the biopharmaceutical company’s stock valued at $877,113,000 after purchasing an additional 123,429 shares during the last quarter. Capital International Investors raised its holdings in shares of Insmed by 9.1% during the 4th quarter. Capital International Investors now owns 7,116,997 shares of the biopharmaceutical company’s stock worth $491,357,000 after buying an additional 593,206 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Insmed by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 4,087,143 shares of the biopharmaceutical company’s stock worth $282,243,000 after buying an additional 273,759 shares during the last quarter.

Insmed Stock Down 0.2%

Shares of NASDAQ:INSM opened at $65.61 on Thursday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $84.91. The business’s 50 day simple moving average is $71.99 and its two-hundred day simple moving average is $73.21. The firm has a market cap of $11.93 billion, a P/E ratio of -11.74 and a beta of 0.84.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.06). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The firm had revenue of $92.82 million during the quarter, compared to the consensus estimate of $91.63 million. During the same quarter in the prior year, the business earned ($1.06) earnings per share. Insmed’s revenue for the quarter was up 22.9% on a year-over-year basis. As a group, research analysts forecast that Insmed Incorporated will post -4.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO William Lewis sold 6,830 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $70.16, for a total value of $479,192.80. Following the transaction, the chief executive officer now owns 233,924 shares of the company’s stock, valued at $16,412,107.84. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sara Bonstein sold 18,322 shares of Insmed stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $80.31, for a total transaction of $1,471,439.82. Following the transaction, the chief financial officer now directly owns 118,863 shares in the company, valued at $9,545,887.53. This trade represents a 13.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 88,232 shares of company stock valued at $6,868,473. Corporate insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

INSM has been the subject of several research analyst reports. Stifel Nicolaus lowered their price target on shares of Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Insmed in a report on Wednesday, March 19th. Guggenheim reiterated a “buy” rating and issued a $101.00 target price on shares of Insmed in a research report on Tuesday, February 25th. Jefferies Financial Group started coverage on Insmed in a report on Tuesday. They set a “buy” rating and a $105.00 price target on the stock. Finally, Truist Financial upped their price objective on Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $94.63.

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.