KLP Kapitalforvaltning AS raised its holdings in Insmed, Inc. (NASDAQ:INSM – Free Report) by 10.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 37,800 shares of the biopharmaceutical company’s stock after acquiring an additional 3,600 shares during the period. KLP Kapitalforvaltning AS’s holdings in Insmed were worth $3,804,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky acquired a new stake in Insmed in the 1st quarter valued at approximately $975,000. Chung Wu Investment Group LLC acquired a new stake in shares of Insmed during the 2nd quarter worth approximately $173,000. OneDigital Investment Advisors LLC grew its holdings in shares of Insmed by 47.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 5,226 shares of the biopharmaceutical company’s stock worth $399,000 after purchasing an additional 1,673 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Insmed during the 1st quarter worth approximately $441,000. Finally, Sowell Financial Services LLC acquired a new stake in shares of Insmed during the 1st quarter worth approximately $255,000.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on INSM shares. Wells Fargo & Company lifted their price objective on Insmed from $140.00 to $171.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Jefferies Financial Group lifted their price objective on Insmed from $129.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. The Goldman Sachs Group lifted their price objective on Insmed from $121.00 to $196.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Royal Bank Of Canada lifted their price objective on Insmed from $108.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Finally, Mizuho raised their target price on Insmed from $130.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 13th. Nineteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $149.06.
Insider Transactions at Insmed
In other Insmed news, COO Roger Adsett sold 25,000 shares of Insmed stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $127.58, for a total value of $3,189,500.00. Following the completion of the transaction, the chief operating officer owned 105,637 shares in the company, valued at approximately $13,477,168.46. The trade was a 19.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael Alexander Smith sold 24,272 shares of Insmed stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $143.89, for a total value of $3,492,498.08. Following the completion of the transaction, the insider owned 54,902 shares of the company’s stock, valued at approximately $7,899,848.78. The trade was a 30.66% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 218,820 shares of company stock worth $28,232,955. 3.00% of the stock is owned by company insiders.
Insmed Price Performance
Insmed stock opened at $162.33 on Friday. The business has a 50 day simple moving average of $138.08 and a 200 day simple moving average of $101.82. The company has a debt-to-equity ratio of 0.45, a current ratio of 6.68 and a quick ratio of 6.33. Insmed, Inc. has a one year low of $60.40 and a one year high of $164.58. The company has a market capitalization of $34.31 billion, a PE ratio of -28.43 and a beta of 1.03.
Insmed (NASDAQ:INSM – Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.30) by ($0.40). Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The business had revenue of $107.42 million during the quarter, compared to the consensus estimate of $104.06 million. During the same quarter in the previous year, the firm posted ($1.94) EPS. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. Insmed has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Insmed, Inc. will post -4.56 EPS for the current fiscal year.
Insmed Company Profile
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.
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