Insmed, Inc. $INSM Stake Increased by Ethic Inc.

Ethic Inc. raised its stake in Insmed, Inc. (NASDAQ:INSM) by 109.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,498 shares of the biopharmaceutical company’s stock after buying an additional 5,496 shares during the period. Ethic Inc.’s holdings in Insmed were worth $1,198,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Virginia Estate & Retirement Planning Advisors Inc. purchased a new position in Insmed in the 3rd quarter valued at approximately $29,000. SBI Securities Co. Ltd. raised its holdings in Insmed by 69.4% during the third quarter. SBI Securities Co. Ltd. now owns 349 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 143 shares during the last quarter. CX Institutional purchased a new stake in Insmed during the third quarter worth $46,000. Harbor Investment Advisory LLC purchased a new stake in Insmed during the second quarter worth $52,000. Finally, Heritage Family Offices LLP purchased a new stake in Insmed during the third quarter worth $60,000.

Insmed Stock Performance

Insmed stock opened at $121.16 on Friday. 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 stock has a fifty day moving average of $110.82 and a two-hundred day moving average of $123.37. The company has a market capitalization of $26.58 billion, a price-to-earnings ratio of -42.96 and a beta of 0.83. 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 data on Thursday, October 29th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.08). The company had revenue of $524.43 million during the quarter, compared to analysts’ expectations of $500.36 million. Insmed had a negative net margin of 39.85% and a negative return on equity of 96.38%. The firm’s revenue was up 268.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.75) earnings per share. On average, analysts anticipate that Insmed, Inc. will post -1.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on INSM. Benchmark reissued a “buy” rating on shares of Insmed in a report on Monday, November 2nd. Guggenheim cut their price target on Insmed from $205.00 to $201.00 and set a “buy” rating for the company in a research note on Monday, November 2nd. Wolfe Research lowered shares of Insmed from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 12th. Roth Capital reiterated a “buy” rating and issued a $198.00 price objective (down from $212.00) on shares of Insmed in a research report on Tuesday, September 15th. Finally, Bank of America reissued a “buy” rating and issued a $207.00 price objective on shares of Insmed in a research note on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $196.52.

Insider Activity

In other Insmed news, Director David Brennan sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $124.00, for a total transaction of $3,100,000.00. Following the sale, the director directly owned 39,238 shares of the company’s stock, valued at $4,865,512. This trade represents a 38.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is owned by corporate insiders.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing treatments for serious diseases, including respiratory and rare conditions. The company is based in Bridgewater, New Jersey, and is led by President and Chief Executive Officer William H. Lewis Jr. Its commercial products include ARIKAYCE, an inhaled amikacin treatment for certain adults with refractory Mycobacterium avium complex lung disease, and BRINSUPRI (brensocatib), an oral treatment for non-cystic fibrosis bronchiectasis.