Gulf International Bank UK Ltd Acquires New Stake in Insmed, Inc. $INSM

Gulf International Bank UK Ltd acquired a new stake in shares of Insmed, Inc. (NASDAQ:INSM) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 11,033 shares of the biopharmaceutical company’s stock, valued at approximately $1,920,000.

Several other hedge funds have also bought and sold shares of INSM. Norges Bank bought a new stake in Insmed during the fourth quarter valued at about $506,625,000. Vanguard Group Inc. grew its holdings in Insmed by 13.0% during the third quarter. Vanguard Group Inc. now owns 19,935,820 shares of the biopharmaceutical company’s stock valued at $2,870,957,000 after purchasing an additional 2,291,328 shares during the period. Artisan Partners Limited Partnership grew its holdings in Insmed by 49.0% during the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock valued at $711,076,000 after purchasing an additional 1,623,342 shares during the period. Orbis Allan Gray Ltd bought a new stake in Insmed during the second quarter valued at about $153,389,000. Finally, Darwin Global Management Ltd. grew its holdings in Insmed by 5.8% during the third quarter. Darwin Global Management Ltd. now owns 20,457,445 shares of the biopharmaceutical company’s stock valued at $2,897,797,000 after purchasing an additional 1,112,824 shares during the period.

Analysts Set New Price Targets

INSM has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on Insmed in a report on Monday, March 16th. They set a “buy” rating and a $228.00 price target for the company. Guggenheim cut their price target on Insmed from $230.00 to $226.00 and set a “buy” rating for the company in a report on Friday, May 8th. Roth Mkm reissued a “buy” rating and set a $212.00 price target on shares of Insmed in a report on Friday, April 17th. Bank of America boosted their price target on Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Finally, Raymond James Financial initiated coverage on Insmed in a report on Friday, April 10th. They set an “outperform” rating and a $200.00 price target for the company. One equities research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $210.95.

Insider Activity

In other news, insider Michael Alexander Smith sold 6,149 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $108.47, for a total value of $666,982.03. Following the completion of the sale, the insider directly owned 41,613 shares of the company’s stock, valued at $4,513,762.11. This trade represents a 12.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 88,060 shares of the firm’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 sale, the chief operating officer directly owned 106,810 shares of the company’s stock, valued at $17,584,130.30. The trade was a 45.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 156,643 shares of company stock valued at $24,513,766 in the last ninety days. Insiders own 2.10% of the company’s stock.

Insmed Stock Performance

NASDAQ INSM opened at $106.91 on Friday. The firm has a market cap of $23.17 billion, a price-to-earnings ratio of -18.59 and a beta of 0.89. 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 business has a 50-day moving average price of $134.42 and a 200-day moving average price of $158.11. Insmed, Inc. has a twelve month low of $65.56 and a twelve month high of $212.75.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.14. The business had revenue of $305.96 million during the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The company’s revenue for the quarter was up 229.7% on a year-over-year basis. During the same period last year, the company earned ($1.42) EPS. As a group, equities research analysts predict that Insmed, Inc. will post -2.52 EPS for the current fiscal 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.