OP Asset Management Ltd Acquires Shares of 22,222 Insmed, Inc. $INSM

OP Asset Management Ltd acquired a new stake in Insmed, Inc. (NASDAQ:INSM) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 22,222 shares of the biopharmaceutical company’s stock, valued at approximately $3,634,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Insmed by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company’s stock valued at $3,668,127,000 after acquiring an additional 1,140,524 shares in the last quarter. Darwin Global Management Ltd. boosted its position in Insmed by 2.3% in the 4th quarter. Darwin Global Management Ltd. now owns 20,933,277 shares of the biopharmaceutical company’s stock worth $3,644,274,000 after purchasing an additional 475,832 shares in the last quarter. Capital International Investors grew its stake in shares of Insmed by 1.0% during the 3rd quarter. Capital International Investors now owns 7,553,853 shares of the biopharmaceutical company’s stock worth $1,087,830,000 after purchasing an additional 74,994 shares during the period. State Street Corp grew its stake in shares of Insmed by 30.6% during the 4th quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock worth $905,312,000 after purchasing an additional 1,217,390 shares during the period. Finally, Artisan Partners Limited Partnership increased its holdings in shares of Insmed by 49.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock valued at $711,076,000 after purchasing an additional 1,623,342 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on INSM shares. Morgan Stanley upgraded shares of Insmed from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $166.00 to $212.00 in a research note on Monday, March 30th. Wells Fargo & Company cut their price objective on shares of Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Roth Mkm reiterated a “buy” rating on shares of Insmed in a research report on Monday, June 8th. Barclays upped their price objective on shares of Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Finally, HC Wainwright reissued a “buy” rating on shares of Insmed in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.86.

Insider Activity at Insmed

In related news, COO Roger Adsett sold 2,370 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $242,379.90. Following the completion of the transaction, the chief operating officer owned 98,603 shares in the company, valued at $10,084,128.81. This represents a 2.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sara Bonstein sold 2,404 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $245,857.08. Following the completion of the transaction, the chief financial officer directly owned 69,082 shares in the company, valued at $7,065,016.14. This represents a 3.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 172,987 shares of company stock worth $25,286,564 in the last ninety days. 2.10% of the stock is owned by company insiders.

Insmed Trading Down 1.0%

Shares of INSM stock opened at $103.38 on Friday. Insmed, Inc. has a 1-year low of $90.39 and a 1-year high of $212.75. The company has a market cap of $22.41 billion, a price-to-earnings ratio of -17.98 and a beta of 0.79. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The stock has a 50 day simple moving average of $112.90 and a 200-day simple moving average of $143.82.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. The firm had revenue of $305.96 million for the quarter, compared to analysts’ expectations of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm’s revenue for the quarter was up 229.7% compared to the same quarter last year. During the same quarter last year, the company earned ($1.42) EPS. On average, equities research analysts expect that Insmed, Inc. will post -2.55 EPS for the current fiscal year.

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.