Franklin Resources Inc. Has $479.57 Million Stake in Insmed, Inc. $INSM

Franklin Resources Inc. grew its position in Insmed, Inc. (NASDAQ:INSM) by 28.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,755,536 shares of the biopharmaceutical company’s stock after buying an additional 615,811 shares during the quarter. Franklin Resources Inc. owned 1.29% of Insmed worth $479,573,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in INSM. CIBC Private Wealth Group LLC raised 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 purchasing an additional 53 shares in the last quarter. Kingsview Wealth Management LLC increased its stake in shares of Insmed by 2.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 2,321 shares of the biopharmaceutical company’s stock valued at $334,000 after purchasing an additional 60 shares during the last quarter. Choreo LLC raised its holdings in shares of Insmed by 2.9% during the 3rd quarter. Choreo LLC now owns 2,319 shares of the biopharmaceutical company’s stock worth $334,000 after buying an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Insmed by 10.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 747 shares of the biopharmaceutical company’s stock worth $130,000 after buying an additional 69 shares in the last quarter. Finally, ORG Partners LLC lifted its position in shares of Insmed by 12.7% during the 4th quarter. ORG Partners LLC now owns 657 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 74 shares during the last quarter.

Insider Buying and Selling at Insmed

In related news, COO Roger Adsett sold 2,370 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $242,379.90. Following the completion of the sale, the chief operating officer directly owned 98,603 shares in the company, valued at $10,084,128.81. This represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Alexander Smith sold 2,159 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $220,800.93. Following the transaction, the insider directly owned 39,454 shares of the company’s stock, valued at approximately $4,034,960.58. This represents a 5.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 160,482 shares of company stock worth $24,438,193. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on INSM shares. Jefferies Financial Group assumed coverage on Insmed in a research report on Monday, March 16th. They issued a “buy” rating and a $228.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Insmed in a research note on Tuesday, April 21st. Leerink Partners upped their price objective on shares of Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. Guggenheim dropped their price objective on shares of Insmed from $230.00 to $226.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, Truist Financial cut their target price on shares of Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned 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 $212.50.

Insmed Stock Performance

Insmed stock opened at $94.17 on Tuesday. The business has a 50 day moving average of $129.38 and a 200-day moving average of $153.90. Insmed, Inc. has a 1 year low of $70.57 and a 1 year high of $212.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The company has a market capitalization of $20.41 billion, a P/E ratio of -16.38 and a beta of 0.79.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. During the same period last year, the company earned ($1.42) EPS. The firm’s revenue was up 229.7% compared to the same quarter last year. On average, equities research analysts predict that Insmed, Inc. will post -2.56 earnings per share for the current year.

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.