Swiss National Bank Buys 18,600 Shares of Insmed Incorporated (NASDAQ:INSM)

Swiss National Bank grew its position in shares of Insmed Incorporated (NASDAQ:INSM) by 6.1% in the fourth quarter, Holdings Channel reports. The firm owned 321,100 shares of the biopharmaceutical company’s stock after purchasing an additional 18,600 shares during the period. Swiss National Bank’s holdings in Insmed were worth $22,169,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC lifted its position in Insmed by 0.6% in the 4th quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock worth $53,424,000 after buying an additional 4,560 shares during the last quarter. Capital CS Group LLC purchased a new stake in shares of Insmed in the 4th quarter worth about $586,000. Orion Portfolio Solutions LLC grew its holdings in Insmed by 48.5% in the third quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock worth $2,050,000 after purchasing an additional 9,170 shares during the period. Ally Bridge Group NY LLC increased its stake in shares of Insmed by 16.9% during the third quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock valued at $11,011,000 after purchasing an additional 21,833 shares in the last quarter. Finally, Vestal Point Capital LP increased its position in Insmed by 113.3% during the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after buying an additional 850,000 shares in the last quarter.

Insmed Stock Up 1.6 %

Shares of INSM opened at $77.77 on Tuesday. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The firm has a market cap of $14.08 billion, a P/E ratio of -13.91 and a beta of 1.28. The stock’s 50 day moving average is $76.39 and its two-hundred day moving average is $73.70. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $84.91.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.15). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The company had revenue of $104.44 million during the quarter, compared to analyst estimates of $102.31 million. Analysts predict that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

INSM has been the subject of a number of recent analyst reports. Royal Bank of Canada initiated coverage on shares of Insmed in a report on Tuesday, February 25th. They issued an “outperform” rating and a $100.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Morgan Stanley boosted their price target on Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Truist Financial upped their target price on shares of Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, HC Wainwright restated a “buy” rating and issued a $90.00 price target on shares of Insmed in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.33.

Insider Activity

In other Insmed news, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $81.03, for a total value of $1,519,312.50. Following the transaction, the chief executive officer now owns 334,186 shares in the company, valued at approximately $27,079,091.58. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sara Bonstein sold 1,066 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $63.72, for a total transaction of $67,925.52. Following the sale, the chief financial officer now directly owns 118,863 shares of the company’s stock, valued at $7,573,950.36. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 550,957 shares of company stock worth $42,859,028 over the last quarter. 4.60% of the stock is currently owned by corporate insiders.

Insmed Company Profile

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.