ProShare Advisors LLC Boosts Holdings in Insmed, Inc. $INSM

ProShare Advisors LLC lifted its holdings in shares of Insmed, Inc. (NASDAQ:INSM) by 4,425.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 340,740 shares of the biopharmaceutical company’s stock after purchasing an additional 333,210 shares during the quarter. ProShare Advisors LLC’s holdings in Insmed were worth $59,302,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank Of Canada dropped their price target on shares of Insmed from $220.00 to $205.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Guggenheim dropped their price target 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. Stifel Nicolaus boosted their price objective on Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Roth Mkm reissued a “buy” rating and set a $212.00 price objective on shares of Insmed in a research report on Friday, April 17th. Finally, Leerink Partners boosted their price objective on Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $210.95.

Insider Activity at Insmed

In related news, COO Roger Adsett sold 88,060 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer owned 106,810 shares in the company, valued at $17,584,130.30. This trade represents a 45.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Lewis sold 10,699 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $143.97, for a total transaction of $1,540,335.03. Following the transaction, the chief executive officer directly owned 301,185 shares of the company’s stock, valued at approximately $43,361,604.45. This represents a 3.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 161,193 shares of company stock worth $25,462,012 over the last 90 days. Company insiders own 2.10% of the company’s stock.

Insmed Price Performance

INSM stock opened at $107.41 on Wednesday. The company has a market capitalization of $23.28 billion, a P/E ratio of -18.68 and a beta of 0.89. Insmed, Inc. has a twelve month low of $64.85 and a twelve month high of $212.75. The business has a 50 day simple moving average of $139.95 and a 200-day simple moving average of $162.42. 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) last announced 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 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 the consensus estimate of $300.81 million. During the same quarter in the prior year, the firm earned ($1.42) earnings per share. The business’s quarterly revenue was up 229.7% compared to the same quarter last year. As a group, equities analysts anticipate that Insmed, Inc. will post -2.52 EPS for the current year.

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.