Saudi Central Bank Acquires 6,860 Shares of Insmed, Inc. $INSM

Saudi Central Bank lifted its stake in Insmed, Inc. (NASDAQ:INSM) by 87.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,732 shares of the biopharmaceutical company’s stock after purchasing an additional 6,860 shares during the period. Saudi Central Bank’s holdings in Insmed were worth $1,571,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. iA Global Asset Management Inc. lifted its position in shares of Insmed by 15,973.5% during the 4th quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company’s stock valued at $4,644,000 after buying an additional 26,516 shares in the last quarter. Monashee Investment Management LLC purchased a new stake in Insmed in the 4th quarter worth approximately $8,702,000. SBI Okasan Asset Management Co.Ltd. purchased a new stake in Insmed in the 4th quarter worth approximately $3,562,000. Empowered Funds LLC raised its stake in Insmed by 32.6% during the 1st quarter. Empowered Funds LLC now owns 51,986 shares of the biopharmaceutical company’s stock worth $8,501,000 after acquiring an additional 12,775 shares during the period. Finally, Hsbc Holdings PLC raised its stake in Insmed by 8,052.6% during the 4th quarter. Hsbc Holdings PLC now owns 123,267 shares of the biopharmaceutical company’s stock worth $21,493,000 after acquiring an additional 121,755 shares during the period.

Insider Activity

In other news, insider Michael Smith sold 1,806 shares of Insmed stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $95.82, for a total value of $173,050.92. Following the sale, the insider directly owned 37,648 shares of the company’s stock, valued at approximately $3,607,431.36. The trade was a 4.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction, the chief executive officer directly owned 258,917 shares of the company’s stock, valued at approximately $26,751,304.44. The trade was a 7.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 273,753 shares of company stock worth $35,604,764 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Insmed Trading Down 1.1%

Insmed stock opened at $124.89 on Wednesday. Insmed, Inc. has a 1 year low of $90.39 and a 1 year high of $212.75. The firm’s 50 day moving average price is $116.65 and its 200-day moving average price is $124.70. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.72 and a quick ratio of 3.40. The stock has a market cap of $27.27 billion, a P/E ratio of -30.39 and a beta of 0.82.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.61. The firm had revenue of $425.49 million during the quarter, compared to analyst estimates of $395.50 million. Insmed had a negative net margin of 76.94% and a negative return on equity of 123.94%. Insmed’s revenue for the quarter was up 296.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.70) earnings per share. On average, equities analysts predict that Insmed, Inc. will post -1.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on INSM. BMO Capital Markets began coverage on shares of Insmed in a research report on Monday, July 20th. They issued an “outperform” rating and a $192.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $235.00 target price on shares of Insmed in a research note on Tuesday, July 28th. Wells Fargo & Company upped their target price on shares of Insmed from $161.00 to $169.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. JPMorgan Chase & Co. cut their price target on Insmed from $179.00 to $175.00 and set an “overweight” rating for the company in a research note on Monday, August 10th. Finally, Guggenheim decreased their price target on Insmed from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $205.52.

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.