Insmed, Inc. $INSM Stock Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 4.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 455,298 shares of the biopharmaceutical company’s stock after acquiring an additional 17,585 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Insmed were worth $51,968,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of INSM. Sei Investments Co. lifted its holdings in shares of Insmed by 56.8% during the first quarter. Sei Investments Co. now owns 1,395,794 shares of the biopharmaceutical company’s stock valued at $228,239,000 after purchasing an additional 505,624 shares in the last quarter. NWI Management LP grew its position in Insmed by 2.6% in the 1st quarter. NWI Management LP now owns 1,014,000 shares of the biopharmaceutical company’s stock worth $165,809,000 after purchasing an additional 25,540 shares during the period. Principal Financial Group Inc. grew its position in Insmed by 18.8% in the 1st quarter. Principal Financial Group Inc. now owns 916,464 shares of the biopharmaceutical company’s stock worth $149,860,000 after purchasing an additional 145,106 shares during the period. Assenagon Asset Management S.A. raised its stake in Insmed by 480.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,266,788 shares of the biopharmaceutical company’s stock valued at $144,591,000 after buying an additional 1,048,518 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Insmed during the 2nd quarter valued at $139,966,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on INSM shares. Cantor Fitzgerald restated an “overweight” rating and issued a $235.00 price target on shares of Insmed in a research note on Tuesday, July 28th. UBS Group reiterated a “buy” rating on shares of Insmed in a research report on Thursday, October 8th. BMO Capital Markets reissued an “outperform” rating on shares of Insmed in a report on Tuesday, October 6th. Stifel Nicolaus set a $195.00 target price on Insmed in a research report on Thursday, October 29th. Finally, Truist Financial restated a “buy” rating and set a $195.00 price target (up from $185.00) on shares of Insmed in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, one has given a Hold rating and one has given 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 $196.52.

Insmed Trading Up 5.3%

INSM opened at $110.00 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.59 and a current ratio of 2.86. The firm’s fifty day moving average is $111.66 and its 200 day moving average is $124.87. Insmed, Inc. has a fifty-two week low of $90.39 and a fifty-two week high of $212.75.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.08). The business had revenue of $524.43 million during the quarter, compared to analysts’ expectations of $500.36 million. Insmed had a negative return on equity of 96.38% and a negative net margin of 39.85%. The company’s quarterly revenue was up 268.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.75) EPS. Research analysts forecast that Insmed, Inc. will post -1.77 EPS for the current fiscal year.

Insider Transactions at Insmed

In related news, Director David Brennan sold 25,000 shares of Insmed stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $124.00, for a total transaction of $3,100,000.00. Following the sale, the director owned 39,238 shares of the company’s stock, valued at approximately $4,865,512. This trade represents a 38.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Roger Adsett sold 239,850 shares of Insmed stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $133.27, for a total value of $31,964,809.50. Following the sale, the chief operating officer directly owned 98,744 shares in the company, valued at $13,159,612.88. This trade represents a 70.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.10% of the company’s stock.

About Insmed

Insmed Incorporated is a global biopharmaceutical company focused on developing and commercializing therapies for serious and rare diseases. The company concentrates on conditions with significant unmet medical needs, particularly in pulmonary and infectious diseases.

Insmed’s lead commercial product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled antibacterial therapy used in the United States for adults with refractory Mycobacterium avium complex lung disease as part of a combination antibacterial regimen.