Healthcare of Ontario Pension Plan Trust Fund Cuts Stake in Insmed, Inc. $INSM

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in Insmed, Inc. (NASDAQ:INSM) by 13.4% during the first quarter, Holdings Channel.com reports. The firm owned 56,529 shares of the biopharmaceutical company’s stock after selling 8,784 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Insmed were worth $9,244,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. CoreCap Advisors LLC bought a new stake in shares of Insmed in the 4th quarter valued at about $27,000. Reflection Asset Management bought a new stake in Insmed in the fourth quarter valued at approximately $30,000. GraniteShares Advisors LLC purchased a new stake in shares of Insmed during the fourth quarter valued at approximately $30,000. CIBC Private Wealth Group LLC grew its holdings 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 during the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in shares of Insmed in the fourth quarter worth $32,000.

Insmed Stock Performance

Shares of Insmed stock opened at $104.13 on Wednesday. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $22.57 billion, a P/E ratio of -18.11 and a beta of 0.78. The business has a fifty day simple moving average of $105.09 and a two-hundred day simple moving average of $132.25. Insmed, Inc. has a 12 month low of $90.39 and a 12 month high of $212.75.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. The firm had revenue of $305.96 million for the quarter, compared to analysts’ expectations of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The company’s quarterly revenue was up 229.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.42) EPS. On average, equities analysts forecast that Insmed, Inc. will post -2.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Insmed

In other news, insider Michael Alexander Smith sold 1,806 shares of Insmed stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $95.82, for a total transaction of $173,050.92. Following the completion of the transaction, the insider directly owned 37,648 shares in the company, valued at approximately $3,607,431.36. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Lewis sold 10,699 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $117.40, for a total value of $1,256,062.60. Following the completion of the sale, the chief executive officer directly owned 259,058 shares in the company, valued at approximately $30,413,409.20. This represents a 3.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 54,590 shares of company stock worth $5,793,738. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on INSM shares. Royal Bank Of Canada cut their price target on shares of Insmed from $205.00 to $195.00 and set an “outperform” rating on the stock in a report on Friday, June 5th. JPMorgan Chase & Co. lowered their price target on Insmed from $180.00 to $179.00 and set an “overweight” rating for the company in a research report on Monday, June 8th. Roth Capital reiterated a “buy” rating on shares of Insmed in a research report on Monday, June 8th. BMO Capital Markets began coverage on Insmed in a report on Monday, July 20th. They set an “outperform” rating and a $192.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $220.00 price target on shares of Insmed in a report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $209.35.

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.