Saudi Central Bank Raises Stock Position in Insmed, Inc. $INSM

Saudi Central Bank grew its holdings in shares of Insmed, Inc. (NASDAQ:INSM) by 87.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,732 shares of the biopharmaceutical company’s stock after buying an additional 6,860 shares during the quarter. Saudi Central Bank’s holdings in Insmed were worth $1,571,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in Insmed by 65.6% during the second quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 263 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Insmed by 80.8% in the 2nd quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock valued at $4,770,000 after purchasing an additional 21,176 shares during the last quarter. Baird Financial Group Inc. purchased a new position in shares of Insmed in the 2nd quarter worth approximately $2,589,000. Amundi boosted its holdings in shares of Insmed by 21,194.4% in the 2nd quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock worth $1,130,000 after purchasing an additional 11,445 shares during the period. Finally, Natixis purchased a new position in shares of Insmed in the 2nd quarter worth approximately $1,072,000.

Analysts Set New Price Targets

INSM has been the topic of several recent research reports. Morgan Stanley restated an “overweight” rating and set a $218.00 price target on shares of Insmed in a report on Friday, August 7th. Truist Financial reaffirmed a “buy” rating and set a $195.00 price objective (up from $185.00) on shares of Insmed in a research note on Monday, August 10th. UBS Group reiterated a “buy” rating and set a $172.00 price objective on shares of Insmed in a research report on Friday, August 7th. Evercore reissued an “outperform” rating and issued a $170.00 target price on shares of Insmed in a research note on Friday, August 7th. Finally, Wells Fargo & Company raised their target price on shares of Insmed from $161.00 to $169.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $205.52.

Insider Transactions at Insmed

In related news, insider Michael Smith sold 1,806 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $95.82, for a total value of $173,050.92. Following the transaction, the insider owned 37,648 shares of the company’s stock, valued at $3,607,431.36. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 239,850 shares of Insmed stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $133.27, for a total transaction of $31,964,809.50. Following the sale, the chief operating officer owned 98,744 shares of the company’s stock, valued at $13,159,612.88. The trade was a 70.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 273,753 shares of company stock worth $35,604,764. 2.10% of the stock is currently owned by insiders.

Insmed Trading Down 1.1%

Shares of NASDAQ INSM opened at $124.89 on Wednesday. Insmed, Inc. has a fifty-two week low of $90.39 and a fifty-two week high of $212.75. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.40 and a current ratio of 3.72. The company has a market cap of $27.27 billion, a price-to-earnings ratio of -30.39 and a beta of 0.82. The business’s 50 day moving average price is $116.65 and its 200-day moving average price is $124.70.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.61. The company had revenue of $425.49 million during the quarter, compared to analysts’ expectations of $395.50 million. Insmed had a negative return on equity of 123.94% and a negative net margin of 76.94%.Insmed’s revenue was up 296.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.70) EPS. On average, sell-side analysts expect that Insmed, Inc. will post -1.83 earnings per share for the current year.

Insmed Company Profile

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.