Russell Investments Group Ltd. Has $23.97 Million Holdings in Insmed, Inc. $INSM

Russell Investments Group Ltd. decreased its position in shares of Insmed, Inc. (NASDAQ:INSM) by 29.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,459 shares of the biopharmaceutical company’s stock after selling 68,158 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.08% of Insmed worth $23,972,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of INSM. Vanguard Group Inc. grew its holdings in shares of Insmed by 13.0% during the third quarter. Vanguard Group Inc. now owns 19,935,820 shares of the biopharmaceutical company’s stock worth $2,870,957,000 after purchasing an additional 2,291,328 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in Insmed by 49.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after buying an additional 1,623,342 shares during the period. Norges Bank bought a new stake in shares of Insmed in the 2nd quarter valued at about $194,728,000. Orbis Allan Gray Ltd acquired a new stake in shares of Insmed in the second quarter valued at about $153,389,000. Finally, Eventide Asset Management LLC increased its stake in shares of Insmed by 1.3% in the second quarter. Eventide Asset Management LLC now owns 1,196,494 shares of the biopharmaceutical company’s stock valued at $120,411,000 after buying an additional 14,819 shares during the period.

Wall Street Analyst Weigh In

Several brokerages recently commented on INSM. Bank of America set a $203.00 target price on Insmed in a report on Thursday, December 18th. Stifel Nicolaus set a $205.00 price target on shares of Insmed in a research report on Thursday, February 19th. Wells Fargo & Company reduced their price objective on shares of Insmed from $234.00 to $208.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. TD Cowen set a $241.00 price objective on shares of Insmed in a research report on Thursday, December 18th. Finally, Wolfe Research set a $167.00 target price on shares of Insmed and gave the company an “outperform” rating in a report on Thursday, December 18th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $207.52.

Insmed Stock Up 0.1%

Shares of NASDAQ INSM opened at $139.52 on Friday. The stock has a market capitalization of $30.07 billion, a P/E ratio of -21.77 and a beta of 1.13. The company has a 50-day moving average price of $155.93 and a 200-day moving average price of $165.62. Insmed, Inc. has a 1 year low of $60.40 and a 1 year high of $212.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.83 and a quick ratio of 3.54.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.47). Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The business had revenue of $263.84 million during the quarter, compared to analyst estimates of $263.97 million. During the same quarter in the prior year, the company earned ($1.32) EPS. The company’s revenue was up 152.6% on a year-over-year basis. On average, equities research analysts forecast that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Sara Bonstein sold 748 shares of Insmed stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $156.34, for a total transaction of $116,942.32. Following the transaction, the chief financial officer owned 79,758 shares of the company’s stock, valued at $12,469,365.72. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Adsett sold 791 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $156.17, for a total value of $123,530.47. Following the sale, the chief operating officer owned 106,810 shares of the company’s stock, valued at $16,680,517.70. This trade represents a 0.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 189,651 shares of company stock valued at $31,784,545. Company insiders own 3.00% of the company’s stock.

Insmed 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.