NBC Securities Inc. Makes New Investment in Insmed Incorporated (NASDAQ:INSM)

NBC Securities Inc. purchased a new position in Insmed Incorporated (NASDAQ:INSM) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 643 shares of the biopharmaceutical company’s stock, valued at approximately $49,000.

A number of other hedge funds also recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Insmed by 8.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 423,094 shares of the biopharmaceutical company’s stock worth $29,590,000 after acquiring an additional 32,960 shares during the period. Principal Securities Inc. increased its holdings in Insmed by 55.5% during the 4th quarter. Principal Securities Inc. now owns 3,139 shares of the biopharmaceutical company’s stock worth $217,000 after purchasing an additional 1,120 shares in the last quarter. M&T Bank Corp raised its stake in shares of Insmed by 5.6% in the 4th quarter. M&T Bank Corp now owns 3,146 shares of the biopharmaceutical company’s stock valued at $217,000 after purchasing an additional 166 shares during the period. Truist Financial Corp lifted its holdings in shares of Insmed by 3.4% in the fourth quarter. Truist Financial Corp now owns 30,038 shares of the biopharmaceutical company’s stock valued at $2,074,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Insmed by 98.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 411 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INSM. The Goldman Sachs Group raised their price target on shares of Insmed from $100.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday. Guggenheim reaffirmed a “buy” rating and issued a $101.00 target price on shares of Insmed in a research report on Tuesday, February 25th. Truist Financial raised their target price on shares of Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, February 21st. HC Wainwright raised their target price on shares of Insmed from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Bank of America raised their target price on shares of Insmed from $94.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.81.

Insider Buying and Selling

In other Insmed news, insider Martina M.D. Flammer sold 9,925 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $65.47, for a total value of $649,789.75. Following the transaction, the insider now owns 86,596 shares in the company, valued at approximately $5,669,440.12. The trade was a 10.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $93.42, for a total transaction of $9,264,648.24. Following the transaction, the insider now owns 89,407 shares in the company, valued at $8,352,401.94. This represents a 52.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 262,166 shares of company stock worth $20,585,587 in the last 90 days. 3.00% of the stock is owned by company insiders.

Insmed Stock Down 1.1%

Insmed stock opened at $96.88 on Friday. Insmed Incorporated has a 1-year low of $60.40 and a 1-year high of $100.00. The firm has a market capitalization of $17.65 billion, a price-to-earnings ratio of -17.33 and a beta of 0.80. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The firm has a 50 day simple moving average of $70.73 and a 200 day simple moving average of $73.47.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) EPS for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The firm had revenue of $92.82 million during the quarter, compared to the consensus estimate of $91.63 million. During the same period in the previous year, the business earned ($1.06) earnings per share. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, analysts predict that Insmed Incorporated will post -4.56 earnings per share for the current year.

Insmed Company Profile

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.