Wealthfront Advisers LLC Has $3.01 Million Stock Holdings in Insmed, Inc. $INSM

Wealthfront Advisers LLC boosted its stake in Insmed, Inc. (NASDAQ:INSM) by 84.2% during the first quarter, Holdings Channel reports. The institutional investor owned 18,404 shares of the biopharmaceutical company’s stock after buying an additional 8,413 shares during the period. Wealthfront Advisers LLC’s holdings in Insmed were worth $3,009,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its position in Insmed by 65.6% during the second quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 263 shares during the last quarter. First Trust Advisors LP grew its position in shares of Insmed by 80.8% in the second quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock valued at $4,770,000 after purchasing an additional 21,176 shares during the last quarter. Baird Financial Group Inc. bought a new position in shares of Insmed during the second quarter worth approximately $2,589,000. Amundi increased its stake 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 during the period. Finally, Natixis acquired a new stake in Insmed during the 2nd quarter worth approximately $1,072,000.

Insider Activity

In other Insmed news, insider Michael Alexander Smith sold 1,806 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $95.82, for a total value of $173,050.92. Following the transaction, the insider directly owned 37,648 shares of the company’s stock, valued at $3,607,431.36. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 2,370 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $242,379.90. Following the completion of the transaction, the chief operating officer owned 98,603 shares of the company’s stock, valued at $10,084,128.81. The trade was a 2.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 54,590 shares of company stock valued at $5,793,738. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on INSM shares. Raymond James Financial began coverage on Insmed in a research note on Friday, April 10th. They issued an “outperform” rating and a $200.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Insmed in a research note on Tuesday, April 21st. Royal Bank Of Canada cut their price objective on shares of Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Wells Fargo & Company increased their target price on shares of Insmed from $160.00 to $161.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Morgan Stanley raised shares of Insmed from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $166.00 to $212.00 in a report on Monday, March 30th. 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $211.05.

Insmed Stock Performance

INSM opened at $108.32 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. Insmed, Inc. has a 52-week low of $90.39 and a 52-week high of $212.75. The firm has a market cap of $23.48 billion, a P/E ratio of -18.84 and a beta of 0.78. The business’s fifty day moving average is $105.72 and its 200-day moving average is $135.63.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.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 previous year, the firm earned ($1.42) earnings per share. Insmed’s revenue for the quarter was up 229.7% compared to the same quarter last year. Sell-side analysts expect that Insmed, Inc. will post -2.43 EPS for the current fiscal year.

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.