Lansforsakringar Fondforvaltning AB publ Invests $11.20 Million in Insmed, Inc. $INSM

Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Insmed, Inc. (NASDAQ:INSM) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 68,489 shares of the biopharmaceutical company’s stock, valued at approximately $11,199,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CIBC Private Wealth Group LLC lifted its stake in Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 53 shares during the period. CoreCap Advisors LLC bought a new stake in shares of Insmed in the 4th quarter valued at about $27,000. GraniteShares Advisors LLC bought a new stake in shares of Insmed in the 4th quarter valued at about $30,000. Reflection Asset Management purchased a new stake in shares of Insmed in the 4th quarter worth approximately $30,000. Finally, Raiffeisen Bank International AG purchased a new stake in shares of Insmed in the 4th quarter worth approximately $32,000.

Wall Street Analysts Forecast Growth

INSM has been the topic of several research reports. Barclays lifted their price objective on shares of Insmed from $231.00 to $237.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a research report on Friday, May 8th. Mizuho set a $192.00 price target on Insmed in a report on Tuesday, June 16th. Stifel Nicolaus boosted their price target on Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Finally, Guggenheim decreased their price objective on Insmed from $230.00 to $226.00 and set a “buy” rating for the company in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Insmed has a consensus rating of “Moderate Buy” and an average price target of $211.86.

Insiders Place Their Bets

In related news, CEO William Lewis sold 21,398 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $103.32, for a total value of $2,210,841.36. Following the completion of the transaction, the chief executive officer directly owned 258,917 shares of the company’s stock, valued at $26,751,304.44. This trade represents a 7.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sara Bonstein sold 2,404 shares of Insmed stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $245,857.08. Following the completion of the sale, the chief financial officer owned 69,082 shares of the company’s stock, valued at $7,065,016.14. This trade represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 65,289 shares of company stock valued at $7,824,301. 2.10% of the stock is currently owned by corporate insiders.

Insmed Price Performance

NASDAQ INSM opened at $107.00 on Thursday. The firm’s fifty day simple moving average is $110.66 and its two-hundred day simple moving average is $141.61. 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, Inc. has a 12-month low of $90.39 and a 12-month high of $212.75. The firm has a market capitalization of $23.19 billion, a P/E ratio of -18.61 and a beta of 0.78.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. The firm 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 business’s revenue for the quarter was up 229.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.42) EPS. Analysts forecast that Insmed, Inc. will post -2.55 EPS for the current fiscal year.

Insmed Company 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.