Sumitomo Mitsui Trust Group Inc. Purchases 65,840 Shares of Insmed, Inc. $INSM

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Insmed, Inc. (NASDAQ:INSM) by 15.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 501,282 shares of the biopharmaceutical company’s stock after acquiring an additional 65,840 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Insmed were worth $81,970,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INSM. CIBC Private Wealth Group LLC increased its stake in shares of Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 53 shares in the last quarter. CoreCap Advisors LLC purchased a new stake in shares of Insmed during the 4th quarter valued at approximately $27,000. GraniteShares Advisors LLC purchased a new stake in shares of Insmed during the 4th quarter valued at approximately $30,000. Reflection Asset Management bought a new position in Insmed in the 4th quarter worth approximately $30,000. Finally, Raiffeisen Bank International AG bought a new position in Insmed in the 4th quarter worth approximately $32,000.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INSM. Morgan Stanley raised shares of Insmed from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $166.00 to $212.00 in a report on Monday, March 30th. Truist Financial cut their price target on Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Stifel Nicolaus lifted their price target on Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research note on Wednesday, June 10th. Finally, HC Wainwright reissued a “buy” rating on shares of Insmed in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.00.

Insiders Place Their Bets

In other news, CEO William Lewis sold 10,699 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $117.40, for a total transaction of $1,256,062.60. Following the completion of the transaction, the chief executive officer owned 259,058 shares of the company’s stock, valued at approximately $30,413,409.20. The trade was a 3.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sara Bonstein sold 2,404 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $245,857.08. Following the completion of the transaction, the chief financial officer owned 69,082 shares in the company, valued at approximately $7,065,016.14. This trade represents a 3.36% 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 quarter, insiders sold 65,289 shares of company stock worth $7,334,073. 2.10% of the stock is currently owned by insiders.

Insmed Price Performance

Shares of Insmed stock traded down $2.65 during trading on Friday, hitting $115.61. The stock had a trading volume of 2,931,490 shares, compared to its average volume of 4,102,796. The firm has a market cap of $25.06 billion, a price-to-earnings ratio of -20.11 and a beta of 0.78. Insmed, Inc. has a 12 month low of $90.39 and a 12 month high of $212.75. The business’s 50-day moving average is $107.21 and its 200 day moving average is $138.27. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The company had revenue of $305.96 million during the quarter, compared to analyst estimates of $300.81 million. During the same quarter last year, the company earned ($1.42) earnings per share. The firm’s quarterly revenue was up 229.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Insmed, Inc. will post -2.55 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.