Exome Asset Management LLC Makes New Investment in Insmed, Inc. $INSM

Exome Asset Management LLC bought a new position in shares of Insmed, Inc. (NASDAQ:INSM) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 26,651 shares of the biopharmaceutical company’s stock, valued at approximately $4,358,000. Insmed accounts for about 2.3% of Exome Asset Management LLC’s investment portfolio, making the stock its 9th biggest holding.

A number of other large investors have also recently made changes to their positions in the stock. iA Global Asset Management Inc. increased its position in shares of Insmed by 15,973.5% during the fourth quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company’s stock worth $4,644,000 after acquiring an additional 26,516 shares during the period. Monashee Investment Management LLC purchased a new stake in shares of Insmed in the fourth quarter valued at approximately $8,702,000. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Insmed by 89.5% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 103,308 shares of the biopharmaceutical company’s stock worth $17,981,000 after purchasing an additional 48,779 shares in the last quarter. Danske Bank A S grew its stake in Insmed by 4,494.1% in the fourth quarter. Danske Bank A S now owns 110,258 shares of the biopharmaceutical company’s stock worth $19,189,000 after purchasing an additional 107,858 shares in the last quarter. Finally, Aberdeen Group plc increased its holdings in Insmed by 7.9% during the 4th quarter. Aberdeen Group plc now owns 253,112 shares of the biopharmaceutical company’s stock worth $44,052,000 after purchasing an additional 18,490 shares during the period.

Insider Activity

In other news, CFO Sara Bonstein sold 2,404 shares of the company’s stock in a transaction 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 transaction, the chief financial officer directly owned 69,082 shares of the company’s stock, valued at approximately $7,065,016.14. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 10,699 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $117.40, for a total value of $1,256,062.60. Following the sale, the chief executive officer owned 259,058 shares of the company’s stock, valued at approximately $30,413,409.20. This represents a 3.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. 2.10% of the stock is currently owned by insiders.

Insmed Stock Performance

Shares of Insmed stock opened at $104.73 on Tuesday. The company has a market capitalization of $22.70 billion, a PE ratio of -18.21 and a beta of 0.78. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. The company has a 50-day simple moving average of $105.15 and a two-hundred day simple moving average of $132.75. Insmed, Inc. has a one year low of $90.39 and a one year high of $212.75.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on INSM shares. Mizuho set a $192.00 target price on Insmed in a research report on Tuesday, June 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Insmed in a research note on Friday, July 17th. Morgan Stanley upgraded Insmed from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $166.00 to $212.00 in a report on Monday, March 30th. Truist Financial dropped their target price on shares of Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. cut their target price on shares of Insmed from $180.00 to $179.00 and set an “overweight” rating on the stock in a research report on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $209.13.

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.