KLP Kapitalforvaltning AS Buys 33,000 Shares of Insmed, Inc. $INSM

KLP Kapitalforvaltning AS increased its holdings in Insmed, Inc. (NASDAQ:INSM) by 80.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 74,000 shares of the biopharmaceutical company’s stock after purchasing an additional 33,000 shares during the period. KLP Kapitalforvaltning AS’s holdings in Insmed were worth $12,879,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of INSM. CIBC Private Wealth Group LLC boosted its position in Insmed by 42.1% during the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 53 shares during the last quarter. CoreCap Advisors LLC bought a new position in shares of Insmed during the 4th quarter worth about $27,000. Stone House Investment Management LLC bought a new position in shares of Insmed during the 3rd quarter worth about $29,000. SBI Securities Co. Ltd. boosted its position in shares of Insmed by 404.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 166 shares in the last quarter. Finally, GraniteShares Advisors LLC acquired a new stake in shares of Insmed in the 4th quarter worth about $30,000.

Insmed Stock Down 0.4%

INSM opened at $143.83 on Friday. The company has a 50 day moving average of $149.54 and a 200 day moving average of $167.10. The company has a market cap of $31.05 billion, a PE ratio of -22.44 and a beta of 1.10. Insmed, Inc. has a 12 month low of $63.81 and a 12 month high of $212.75. The company has a current ratio of 3.83, a quick ratio of 3.54 and a debt-to-equity ratio of 0.76.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.54) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.47). The business had revenue of $263.84 million during the quarter, compared to the consensus estimate of $263.97 million. Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The firm’s quarterly revenue was up 152.6% on a year-over-year basis. During the same period last year, the business posted ($1.32) earnings per share. On average, sell-side analysts expect that Insmed, Inc. will post -2.51 EPS for the current year.

Insider Buying and Selling at Insmed

In other Insmed news, CEO William Lewis sold 13,396 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $147.79, for a total value of $1,979,794.84. Following the completion of the transaction, the chief executive officer directly owned 301,185 shares of the company’s stock, valued at $44,512,131.15. This trade represents a 4.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Alexander Smith sold 19,638 shares of the firm’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $150.98, for a total transaction of $2,964,945.24. Following the completion of the transaction, the insider directly owned 51,871 shares of the company’s stock, valued at approximately $7,831,483.58. The trade was a 27.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 179,777 shares of company stock valued at $28,252,720 in the last three months. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

INSM has been the topic of a number of analyst reports. UBS Group lowered their target price on shares of Insmed from $223.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Royal Bank Of Canada raised their price target on shares of Insmed from $212.00 to $216.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 14th. Morgan Stanley upgraded shares of Insmed from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $166.00 to $212.00 in a research note on Monday, March 30th. Raymond James Financial began coverage on shares of Insmed in a report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price objective for the company. Finally, Guggenheim reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Insmed in a report on Thursday, April 16th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $213.23.

Insmed Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.