Legal & General Group Plc Acquires 332,292 Shares of Insmed, Inc. $INSM

Legal & General Group Plc lifted its holdings in Insmed, Inc. (NASDAQ:INSM) by 159.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 540,313 shares of the biopharmaceutical company’s stock after acquiring an additional 332,292 shares during the quarter. Legal & General Group Plc’s holdings in Insmed were worth $94,036,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in INSM. Vanguard Group Inc. lifted its holdings in shares of Insmed by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,935,820 shares of the biopharmaceutical company’s stock worth $2,870,957,000 after acquiring an additional 2,291,328 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Insmed by 49.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after acquiring an additional 1,623,342 shares during the last quarter. Orbis Allan Gray Ltd bought a new stake in shares of Insmed in the 2nd quarter worth approximately $153,389,000. Darwin Global Management Ltd. lifted its holdings in shares of Insmed by 5.8% in the 3rd quarter. Darwin Global Management Ltd. now owns 20,457,445 shares of the biopharmaceutical company’s stock worth $2,897,797,000 after acquiring an additional 1,112,824 shares during the last quarter. Finally, Bank of Nova Scotia bought a new stake in shares of Insmed in the 3rd quarter worth approximately $72,904,000.

Insmed Trading Up 1.9%

NASDAQ:INSM opened at $108.37 on Friday. The company has a fifty day moving average of $135.14 and a 200 day moving average of $158.47. Insmed, Inc. has a 52 week low of $65.56 and a 52 week high of $212.75. 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 firm has a market capitalization of $23.49 billion, a P/E ratio of -18.85 and a beta of 0.89.

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 net margin of 144.44% and a negative return on equity of 130.11%. The company had revenue of $305.96 million during the quarter, compared to analyst estimates of $300.81 million. During the same period in the prior year, the business posted ($1.42) EPS. The firm’s revenue was up 229.7% compared to the same quarter last year. On average, research analysts predict that Insmed, Inc. will post -2.52 earnings per share for the current year.

Insiders Place Their Bets

In other Insmed news, COO Roger Adsett sold 88,060 shares of the company’s stock in a transaction 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 transaction, the chief operating officer directly owned 106,810 shares in the company, valued at approximately $17,584,130.30. This represents a 45.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Alexander Smith sold 19,638 shares of the company’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $150.98, for a total transaction of $2,964,945.24. Following the completion of the transaction, the insider owned 51,871 shares of the company’s stock, valued at $7,831,483.58. This trade represents a 27.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 156,643 shares of company stock worth $24,513,766. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on INSM shares. Bank of America boosted their price objective on shares of Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Truist Financial lowered their price target on shares of Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Jefferies Financial Group assumed coverage on shares of Insmed in a report on Monday, March 16th. They set a “buy” rating and a $228.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Insmed in a report on Tuesday, April 21st. Finally, Wells Fargo & Company lowered their price target on shares of Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Insmed has an average rating of “Moderate Buy” and a consensus price target of $210.95.

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.