Krilogy Financial LLC Acquires New Shares in Insmed, Inc. $INSM

Krilogy Financial LLC bought a new position in shares of Insmed, Inc. (NASDAQ:INSM) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,710 shares of the biopharmaceutical company’s stock, valued at approximately $652,000.

A number of other large investors also recently modified their holdings of the company. NorthCrest Asset Manangement LLC bought a new position in shares of Insmed in the 3rd quarter worth $652,000. Perpetual Ltd grew its position in Insmed by 164.0% in the 3rd quarter. Perpetual Ltd now owns 9,273 shares of the biopharmaceutical company’s stock valued at $1,058,000 after purchasing an additional 5,760 shares during the period. Riversedge Advisors LLC bought a new stake in Insmed during the 3rd quarter valued at $268,000. Everhart Financial Group Inc. bought a new stake in Insmed during the 3rd quarter valued at $430,000. Finally, Whalen Wealth Management Inc. bought a new stake in Insmed during the 3rd quarter valued at $243,000.

Wall Street Analyst Weigh In

INSM has been the topic of several research reports. Evercore restated an “outperform” rating and set a $170.00 price objective on shares of Insmed in a report on Friday, August 7th. Bank of America reaffirmed a “buy” rating and issued a $207.00 price objective on shares of Insmed in a research note on Monday, October 12th. JPMorgan Chase & Co. reduced their price objective on shares of Insmed from $179.00 to $175.00 and set an “overweight” rating for the company in a report on Monday, August 10th. Morgan Stanley reissued an “overweight” rating and set a $218.00 target price on shares of Insmed in a research report on Friday, August 7th. Finally, Wolfe Research downgraded shares of Insmed from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $200.30.

Insmed Stock Performance

Shares of Insmed stock opened at $96.27 on Friday. The company has a market cap of $21.02 billion, a PE ratio of -23.42 and a beta of 0.83. Insmed, Inc. has a 52 week low of $90.39 and a 52 week high of $212.75. The business has a 50 day moving average price of $118.77 and a 200-day moving average price of $118.27. The company has a quick ratio of 3.40, a current ratio of 3.72 and a debt-to-equity ratio of 0.74.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.61. The company had revenue of $425.49 million for the quarter, compared to analyst estimates of $395.50 million. Insmed had a negative return on equity of 123.94% and a negative net margin of 76.94%. The company’s revenue for the quarter was up 296.1% on a year-over-year basis. During the same quarter last year, the company earned ($1.70) earnings per share. Equities analysts anticipate that Insmed, Inc. will post -1.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David Brennan sold 25,000 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $124.00, for a total value of $3,100,000.00. Following the completion of the sale, the director directly owned 39,238 shares of the company’s stock, valued at approximately $4,865,512. This represents a 38.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Roger Adsett sold 239,850 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer owned 98,744 shares in the company, valued at approximately $13,159,612.88. This trade represents a 70.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 patients with serious and rare diseases. The company’s research and development activities center on pulmonary and inflammatory conditions, with an emphasis on diseases that have limited treatment options.

Insmed’s principal commercial product is ARIKAYCE liposomal, an inhaled formulation of amikacin used with a combination antibacterial regimen to treat refractory Mycobacterium avium complex lung disease in certain adult patients.