Envestnet Asset Management Inc. Increases Holdings in Insmed, Inc. (NASDAQ:INSM)

Envestnet Asset Management Inc. increased its position in Insmed, Inc. (NASDAQ:INSM) by 26.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 325,307 shares of the biopharmaceutical company’s stock after acquiring an additional 68,949 shares during the period. Envestnet Asset Management Inc. owned approximately 0.18% of Insmed worth $24,818,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in INSM. Elequin Capital LP acquired a new stake in shares of Insmed in the 4th quarter valued at $28,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 163 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Insmed in the 1st quarter valued at approximately $49,000. Versant Capital Management Inc lifted its position in shares of Insmed by 546.3% in the 1st quarter. Versant Capital Management Inc now owns 698 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 590 shares during the period. Finally, GAMMA Investing LLC increased its stake in Insmed by 62.0% during the 1st quarter. GAMMA Investing LLC now owns 1,009 shares of the biopharmaceutical company’s stock valued at $77,000 after purchasing an additional 386 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts recently issued reports on INSM shares. HC Wainwright boosted their price objective on Insmed from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, June 11th. Royal Bank Of Canada upped their price objective on Insmed from $99.00 to $106.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 11th. Morgan Stanley raised their price target on Insmed from $90.00 to $102.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 11th. UBS Group cut their target price on Insmed from $110.00 to $109.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Finally, Citigroup upgraded Insmed to a “buy” rating in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $108.07.

Insmed Price Performance

Shares of NASDAQ INSM opened at $102.87 on Wednesday. Insmed, Inc. has a 1-year low of $60.40 and a 1-year high of $106.83. The business’s 50 day moving average is $84.68 and its 200-day moving average is $77.84. The company has a current ratio of 5.86, a quick ratio of 5.44 and a debt-to-equity ratio of 11.38. The firm has a market cap of $19.52 billion, a P/E ratio of -17.29 and a beta of 0.90.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data 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 return on equity of 446.98% and a negative net margin of 265.93%. The company had revenue of $92.82 million during the quarter, compared to analysts’ expectations of $91.63 million. During the same period last year, the company earned ($1.06) earnings per share. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. Equities research analysts predict that Insmed, Inc. will post -4.56 earnings per share for the current year.

Insider Activity

In related news, insider Michael Alexander Smith sold 933 shares of the business’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $102.51, for a total transaction of $95,641.83. Following the transaction, the insider owned 66,394 shares in the company, valued at $6,806,048.94. The trade was a 1.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sara Bonstein sold 57,764 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $95.86, for a total value of $5,537,257.04. Following the completion of the transaction, the chief financial officer directly owned 84,017 shares in the company, valued at $8,053,869.62. This trade represents a 40.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 548,197 shares of company stock valued at $49,124,834. 3.00% of the stock is owned by insiders.

Insmed 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.