Sofinnova Investments Inc. Buys 52,462 Shares of Insmed, Inc. $INSM

Sofinnova Investments Inc. raised its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 50.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 156,801 shares of the biopharmaceutical company’s stock after acquiring an additional 52,462 shares during the quarter. Sofinnova Investments Inc.’s holdings in Insmed were worth $27,290,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INSM. EverSource Wealth Advisors LLC lifted its holdings in shares of Insmed by 65.6% during the second quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $67,000 after acquiring an additional 263 shares during the period. First Trust Advisors LP increased its stake 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 buying an additional 21,176 shares in the last quarter. Baird Financial Group Inc. acquired a new stake in shares of Insmed in the second quarter valued at $2,589,000. Amundi increased its stake in shares of Insmed by 21,194.4% in the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock valued at $1,130,000 after buying an additional 11,445 shares in the last quarter. Finally, Natixis acquired a new stake in shares of Insmed in the second quarter valued at $1,072,000.

Insider Buying and Selling at Insmed

In other news, CFO Sara Bonstein sold 2,404 shares of Insmed 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 $245,857.08. Following the completion of the sale, the chief financial officer owned 69,082 shares in the company, valued at $7,065,016.14. The trade was a 3.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 7,605 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 $777,763.35. Following the sale, the chief executive officer owned 265,432 shares of the company’s stock, valued at approximately $27,145,730.64. This represents a 2.79% decrease in their position. 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. Insiders have sold 160,482 shares of company stock worth $24,438,193 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Insmed Price Performance

Shares of INSM stock opened at $97.46 on Tuesday. The stock has a 50-day moving average price of $123.25 and a 200 day moving average price of $150.13. 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 cap of $21.12 billion, a price-to-earnings ratio of -16.95 and a beta of 0.79. Insmed, Inc. has a 12 month low of $90.39 and a 12 month high of $212.75.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $300.81 million. During the same quarter in the previous year, the company earned ($1.42) EPS. Insmed’s revenue was up 229.7% on a year-over-year basis. Research analysts expect that Insmed, Inc. will post -2.54 EPS for the current year.

Analyst Upgrades and Downgrades

INSM has been the subject of a number of research reports. Roth Mkm restated a “buy” rating on shares of Insmed in a research note on Monday, June 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Insmed in a research note on Tuesday, April 21st. Barclays raised their target price on Insmed from $231.00 to $237.00 and gave the company an “overweight” rating in a research note on Wednesday, April 1st. Truist Financial lowered their target price on Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Finally, HC Wainwright restated a “buy” rating on shares of Insmed in a research note on Friday, May 8th. One investment 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $212.50.

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.