Insmed, Inc. $INSM Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its position in Insmed, Inc. (NASDAQ:INSM) by 38.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 72,696 shares of the biopharmaceutical company’s stock after selling 46,151 shares during the period. The Manufacturers Life Insurance Company’s holdings in Insmed were worth $11,887,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Insmed in the fourth quarter valued at about $506,625,000. RTW Investments LP increased its stake in shares of Insmed by 57.0% during the 4th quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company’s stock worth $842,855,000 after purchasing an additional 1,758,321 shares in the last quarter. Orbis Allan Gray Ltd acquired a new position in shares of Insmed during the 2nd quarter worth approximately $153,389,000. State Street Corp raised its position in shares of Insmed by 30.6% during the 4th quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock worth $905,312,000 after purchasing an additional 1,217,390 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Insmed by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company’s stock valued at $3,668,127,000 after buying an additional 1,140,524 shares in the last quarter.

Insmed Price Performance

INSM opened at $98.60 on Monday. Insmed, Inc. has a 52-week low of $90.39 and a 52-week high of $212.75. The company has a 50 day moving average of $104.68 and a two-hundred day moving average of $130.76. The company has a market cap of $21.37 billion, a P/E ratio of -17.15 and a beta of 0.81. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80.

Insmed (NASDAQ:INSM) last issued 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 business had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business’s revenue for the quarter was up 229.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.42) EPS. On average, analysts expect that Insmed, Inc. will post -2.43 earnings per share for the current year.

Insider Activity

In related news, CFO Sara Bonstein sold 2,404 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $245,857.08. Following the transaction, the chief financial officer owned 69,082 shares in the company, valued at approximately $7,065,016.14. The trade was a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Roger Adsett sold 2,370 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $242,379.90. Following the completion of the transaction, the chief operating officer directly owned 98,603 shares of the company’s stock, valued at $10,084,128.81. This represents a 2.35% decrease in their position. 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. Insiders sold a total of 54,590 shares of company stock valued at $5,793,738 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on INSM shares. BMO Capital Markets initiated coverage on Insmed in a research report on Monday, July 20th. They set an “outperform” rating and a $192.00 price objective for the company. Raymond James Financial initiated coverage on Insmed in a report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price target for the company. Wells Fargo & Company boosted their price objective on shares of Insmed from $160.00 to $161.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Royal Bank Of Canada dropped their price objective on Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Insmed in a research report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $209.35.

Insmed Company 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.