M&T Bank Corp Grows Stock Position in Insmed, Inc. $INSM

M&T Bank Corp raised its holdings in Insmed, Inc. (NASDAQ:INSM) by 9,452.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 391,075 shares of the biopharmaceutical company’s stock after buying an additional 386,981 shares during the quarter. M&T Bank Corp owned about 0.18% of Insmed worth $68,063,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INSM. CIBC Private Wealth Group LLC raised its stake in Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 53 shares during the last quarter. CoreCap Advisors LLC acquired a new position in shares of Insmed in the fourth quarter valued at about $27,000. Stone House Investment Management LLC acquired a new position in shares of Insmed in the third quarter valued at about $29,000. SBI Securities Co. Ltd. increased its holdings in shares of Insmed by 404.9% in the third quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 166 shares during the period. Finally, GraniteShares Advisors LLC acquired a new position in shares of Insmed in the fourth quarter valued at about $30,000.

Insmed Stock Down 1.3%

Insmed stock opened at $140.98 on Wednesday. The firm has a market cap of $30.43 billion, a price-to-earnings ratio of -21.99 and a beta of 1.10. Insmed, Inc. has a 52 week low of $63.81 and a 52 week high of $212.75. The business’s 50-day moving average price is $149.67 and its 200 day moving average price is $167.43. The company has a quick ratio of 3.54, a current ratio of 3.83 and a debt-to-equity ratio of 0.76.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.47). Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The company had revenue of $263.84 million for the quarter, compared to analyst estimates of $263.97 million. During the same period last year, the business earned ($1.32) earnings per share. The firm’s revenue was up 152.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Insmed, Inc. will post -2.51 earnings per share for the current year.

Insider Buying and Selling at Insmed

In other Insmed news, CEO William Lewis sold 10,699 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $143.97, for a total value of $1,540,335.03. Following the sale, the chief executive officer directly owned 301,185 shares of the company’s stock, valued at approximately $43,361,604.45. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 88,060 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total value of $14,497,317.80. Following the completion of the sale, the chief operating officer directly owned 106,810 shares in the company, valued at approximately $17,584,130.30. The trade was a 45.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 179,777 shares of company stock valued at $28,252,720. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on INSM shares. Raymond James Financial started coverage on Insmed in a report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price objective on the stock. Roth Mkm reissued a “buy” rating and issued a $212.00 price objective on shares of Insmed in a report on Friday, April 17th. HC Wainwright increased their price objective on Insmed from $230.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Barclays increased their price objective on Insmed from $231.00 to $237.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. Finally, Leerink Partners increased their price objective on Insmed from $210.00 to $215.00 and gave the company an “outperform” rating in a report on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Insmed presently has an average rating of “Buy” and an average price target of $213.23.

About Insmed

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.