Legal & General Group Plc Purchases 332,292 Shares of Insmed, Inc. $INSM

by · The Cerbat Gem

Legal & General Group Plc lifted its position in shares of Insmed, Inc. (NASDAQ:INSM – Free Report) by 159.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 540,313 shares of the biopharmaceutical company’s stock after purchasing an additional 332,292 shares during the period. Legal & General Group Plc owned 0.25% of Insmed worth $94,036,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Artisan Partners Limited Partnership increased its stake in shares of Insmed by 49.0% in the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after purchasing an additional 1,623,342 shares in the last quarter. Atika Capital Management LLC purchased a new position in shares of Insmed in the third quarter worth about $13,681,000. iA Global Asset Management Inc. increased its stake in shares of Insmed by 15,973.5% in the fourth quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company’s stock worth $4,644,000 after purchasing an additional 26,516 shares in the last quarter. Nordea Investment Management AB purchased a new position in shares of Insmed in the fourth quarter worth about $3,492,000. Finally, Keybank National Association OH increased its stake in shares of Insmed by 76.7% in the third quarter. Keybank National Association OH now owns 16,716 shares of the biopharmaceutical company’s stock worth $2,407,000 after purchasing an additional 7,257 shares in the last quarter.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $108.37 on Friday. The company has a 50 day moving average of $135.14 and a 200 day moving average of $158.47. The stock has a market cap of $23.49 billion, a P/E ratio of -18.85 and a beta of 0.89. Insmed, Inc. has a 12 month low of $65.56 and a 12 month high of $212.75. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80.

Insmed (NASDAQ:INSM – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business had revenue of $305.96 million during the quarter, compared to analysts’ expectations of $300.81 million. During the same quarter in the previous year, the company earned ($1.42) EPS. The business’s quarterly revenue was up 229.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Insmed, Inc. will post -2.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other Insmed news, COO Roger Adsett sold 88,060 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total value of $14,497,317.80. Following the completion of the transaction, the chief operating officer owned 106,810 shares of the company’s stock, valued at $17,584,130.30. The trade was a 45.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Alexander Smith sold 19,638 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $150.98, for a total transaction of $2,964,945.24. Following the completion of the transaction, the insider directly owned 51,871 shares of the company’s stock, valued at approximately $7,831,483.58. This represents a 27.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 156,643 shares of company stock valued at $24,513,766 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on INSM shares. Mizuho lifted their target price on shares of Insmed from $204.00 to $206.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 25th. Stifel Nicolaus lifted their target price on shares of Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Raymond James Financial started coverage on shares of Insmed in a research note on Friday, April 10th. They issued an “outperform” rating and a $200.00 target price for the company. Morgan Stanley upgraded shares of Insmed from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $166.00 to $212.00 in a research note on Monday, March 30th. Finally, Bank of America boosted their price objective on shares of Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.95.

Check Out Our Latest Stock Analysis on Insmed

Insmed Profile

(Free Report)

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.

See Also

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