Norges Bank Invests $126.61 Million in Insmed Incorporated (NASDAQ:INSM)

Norges Bank purchased a new stake in Insmed Incorporated (NASDAQ:INSM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,833,810 shares of the biopharmaceutical company’s stock, valued at approximately $126,606,000. Norges Bank owned 1.03% of Insmed at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in INSM. Vanguard Group Inc. lifted its position in shares of Insmed by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock valued at $1,257,838,000 after acquiring an additional 1,075,796 shares during the period. Geode Capital Management LLC raised its stake in Insmed by 4.7% in the third quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock valued at $278,432,000 after purchasing an additional 172,664 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in Insmed by 8.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 3,126,339 shares of the biopharmaceutical company’s stock worth $215,842,000 after purchasing an additional 242,242 shares during the period. William Blair Investment Management LLC grew its stake in Insmed by 0.5% during the fourth quarter. William Blair Investment Management LLC now owns 2,433,443 shares of the biopharmaceutical company’s stock worth $168,005,000 after buying an additional 12,535 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Insmed by 12.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock valued at $136,648,000 after buying an additional 214,130 shares during the period.

Insider Transactions at Insmed

In other Insmed news, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total transaction of $1,309,500.00. Following the completion of the transaction, the chief executive officer now owns 384,960 shares in the company, valued at approximately $26,885,606.40. This trade represents a 4.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sara Bonstein sold 3,470 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $65.70, for a total transaction of $227,979.00. Following the completion of the sale, the chief financial officer now directly owns 114,736 shares in the company, valued at approximately $7,538,155.20. This represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 550,957 shares of company stock worth $42,992,528 over the last ninety days. 4.60% of the stock is owned by insiders.

Insmed Trading Down 2.2 %

Shares of NASDAQ INSM opened at $76.29 on Tuesday. The stock has a market cap of $13.81 billion, a P/E ratio of -13.65 and a beta of 1.28. The firm has a 50 day moving average price of $78.26 and a two-hundred day moving average price of $74.02. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $84.91.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.15). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The company had revenue of $104.44 million for the quarter, compared to the consensus estimate of $102.31 million. As a group, equities analysts forecast that Insmed Incorporated will post -4.56 EPS for the current year.

Analyst Upgrades and Downgrades

INSM has been the subject of a number of recent analyst reports. Bank of America upped their price target on shares of Insmed from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, March 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Insmed in a report on Wednesday, March 19th. UBS Group boosted their price target on Insmed from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. boosted their target price on Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $94.00.

About Insmed

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.