BI Asset Management Fondsmaeglerselskab A S Lowers Position in Insmed, Inc. $INSM

BI Asset Management Fondsmaeglerselskab A S reduced its position in shares of Insmed, Inc. (NASDAQ:INSM) by 56.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,424 shares of the biopharmaceutical company’s stock after selling 47,678 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Insmed were worth $5,389,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in INSM. Mirae Asset Global Investments Co. Ltd. increased its position in Insmed by 15.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,492 shares of the biopharmaceutical company’s stock worth $754,000 after purchasing an additional 999 shares during the period. KLP Kapitalforvaltning AS grew its holdings in Insmed by 10.5% during the second quarter. KLP Kapitalforvaltning AS now owns 37,800 shares of the biopharmaceutical company’s stock worth $3,804,000 after acquiring an additional 3,600 shares during the period. Maryland State Retirement & Pension System acquired a new position in Insmed during the second quarter worth $873,000. IFP Advisors Inc raised its position in Insmed by 29.5% in the second quarter. IFP Advisors Inc now owns 2,423 shares of the biopharmaceutical company’s stock worth $244,000 after acquiring an additional 552 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Insmed in the second quarter valued at $59,000.

Insmed Trading Down 0.8%

Shares of Insmed stock opened at $149.86 on Friday. Insmed, Inc. has a 1 year low of $60.40 and a 1 year high of $212.75. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.63 and a quick ratio of 4.34. The business has a 50 day moving average price of $174.90 and a 200 day moving average price of $159.93. The company has a market capitalization of $31.96 billion, a P/E ratio of -24.21 and a beta of 1.11.

Analysts Set New Price Targets

A number of research firms have recently weighed in on INSM. Royal Bank Of Canada upped their price target on shares of Insmed from $197.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Morgan Stanley upped their target price on shares of Insmed from $157.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Truist Financial set a $205.00 target price on shares of Insmed in a report on Monday, January 12th. Citigroup reissued an “outperform” rating on shares of Insmed in a research note on Thursday, December 18th. Finally, Wolfe Research set a $167.00 price objective on Insmed and gave the company an “outperform” rating in a research note on Thursday, December 18th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen 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 data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $203.45.

Insider Activity

In other news, Director Leo Lee sold 75,000 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $195.90, for a total transaction of $14,692,500.00. Following the completion of the transaction, the director owned 54,677 shares of the company’s stock, valued at $10,711,224.30. This represents a 57.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William Lewis sold 19,215 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $169.00, for a total transaction of $3,247,335.00. Following the completion of the sale, the chief executive officer owned 306,891 shares of the company’s stock, valued at approximately $51,864,579. The trade was a 5.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 274,857 shares of company stock worth $50,121,247. Corporate insiders own 3.00% of the company’s stock.

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.