Insmed, Inc. $INSM Stock Bought by Aberdeen Group plc

Aberdeen Group plc lifted its holdings in Insmed, Inc. (NASDAQ:INSM) by 40.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 809,903 shares of the biopharmaceutical company’s stock after purchasing an additional 232,466 shares during the period. Aberdeen Group plc’s holdings in Insmed were worth $92,442,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Virginia Estate & Retirement Planning Advisors Inc. bought a new stake in shares of Insmed during the 3rd quarter valued at about $29,000. SBI Securities Co. Ltd. raised its stake 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 acquiring an additional 143 shares during the period. CX Institutional acquired a new stake in Insmed during the third quarter worth about $46,000. Harbor Investment Advisory LLC acquired a new stake in Insmed during the second quarter worth about $52,000. Finally, Heritage Family Offices LLP bought a new position in Insmed in the third quarter worth about $60,000.

Insmed Price Performance

NASDAQ:INSM traded up $3.09 during midday trading on Friday, hitting $121.16. 1,543,590 shares of the stock were exchanged, compared to its average volume of 3,815,081. Insmed, Inc. has a one year low of $90.39 and a one year high of $212.75. The company has a market capitalization of $26.58 billion, a price-to-earnings ratio of -42.96 and a beta of 0.83. The business has a 50-day moving average price of $110.82 and a two-hundred day moving average price of $123.37. The company has a current ratio of 2.86, a quick ratio of 2.59 and a debt-to-equity ratio of 0.77.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.08). The business had revenue of $524.43 million during the quarter, compared to the consensus estimate of $500.36 million. Insmed had a negative return on equity of 96.38% and a negative net margin of 39.85%. Insmed’s revenue was up 268.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.75) earnings per share. Sell-side analysts predict that Insmed, Inc. will post -1.86 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on INSM shares. Jefferies Financial Group reissued a “buy” rating and set a $175.00 price target on shares of Insmed in a report on Thursday, August 6th. Truist Financial reaffirmed a “buy” rating and issued a $195.00 price objective (up from $185.00) on shares of Insmed in a report on Monday, August 10th. Bank of America reiterated a “buy” rating and issued a $207.00 price objective on shares of Insmed in a research report on Monday, October 12th. Stifel Nicolaus set a $195.00 price objective on shares of Insmed in a research report on Thursday, October 29th. Finally, Evercore reissued an “outperform” rating and set a $170.00 target price on shares of Insmed in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $196.52.

Insider Transactions at Insmed

In related news, Director David Brennan sold 25,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director directly owned 39,238 shares of the company’s stock, valued at approximately $4,865,512. The trade was a 38.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Insmed 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.