Swedbank AB Increases Position in Insmed, Inc. $INSM

Swedbank AB grew its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 39.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,865 shares of the biopharmaceutical company’s stock after acquiring an additional 23,313 shares during the period. Swedbank AB’s holdings in Insmed were worth $13,550,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of INSM. Vanguard Group Inc. boosted 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 worth $3,668,127,000 after purchasing an additional 1,140,524 shares in the last quarter. Darwin Global Management Ltd. increased its position in shares of Insmed by 2.3% in the fourth quarter. Darwin Global Management Ltd. now owns 20,933,277 shares of the biopharmaceutical company’s stock valued at $3,644,274,000 after buying an additional 475,832 shares in the last quarter. State Street Corp increased its position in shares of Insmed by 30.6% in the fourth quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock valued at $905,312,000 after buying an additional 1,217,390 shares in the last quarter. RTW Investments LP raised its stake in shares of Insmed by 57.0% during the 4th quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company’s stock worth $842,855,000 after buying an additional 1,758,321 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Insmed by 14.4% in the 4th quarter. Geode Capital Management LLC now owns 4,299,052 shares of the biopharmaceutical company’s stock worth $751,936,000 after buying an additional 539,625 shares in the last quarter.

Insmed Stock Up 1.5%

Shares of NASDAQ INSM opened at $118.26 on Friday. The stock has a market capitalization of $25.63 billion, a PE ratio of -20.57 and a beta of 0.78. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The firm has a fifty day moving average of $107.60 and a 200-day moving average of $138.43. Insmed, Inc. has a 52-week low of $90.39 and a 52-week high of $212.75.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same period last year, the company posted ($1.42) EPS. The business’s quarterly revenue was up 229.7% on a year-over-year basis. On average, analysts anticipate that Insmed, Inc. will post -2.55 EPS for the current year.

Insider Transactions at Insmed

In other news, insider Michael Alexander Smith sold 1,806 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $95.82, for a total value of $173,050.92. Following the transaction, the insider directly owned 37,648 shares in the company, valued at $3,607,431.36. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sara Bonstein sold 2,404 shares of Insmed stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value 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 disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 54,590 shares of company stock valued at $6,078,011. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Raymond James Financial started coverage on Insmed in a research note on Friday, April 10th. They issued an “outperform” rating and a $200.00 target price on the stock. Mizuho set a $192.00 price target on Insmed in a research report on Tuesday, June 16th. Wells Fargo & Company reduced their price objective on Insmed from $177.00 to $160.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Finally, Guggenheim cut their target price on shares of Insmed from $230.00 to $226.00 and set a “buy” rating for the company in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Insmed has an average rating of “Moderate Buy” and an average target price of $211.86.

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.