M&T Bank Corp Buys 147 Shares of Insmed, Inc. (NASDAQ:INSM)

M&T Bank Corp lifted its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 4.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,293 shares of the biopharmaceutical company’s stock after acquiring an additional 147 shares during the quarter. M&T Bank Corp’s holdings in Insmed were worth $252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elequin Capital LP bought a new position in shares of Insmed in the fourth quarter worth approximately $28,000. NBC Securities Inc. purchased a new position in shares of Insmed during the 1st quarter valued at $49,000. Versant Capital Management Inc boosted its holdings in 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 buying an additional 590 shares during the period. GAMMA Investing LLC increased its stake in Insmed by 62.0% in the 1st quarter. GAMMA Investing LLC now owns 1,009 shares of the biopharmaceutical company’s stock worth $77,000 after buying an additional 386 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in Insmed by 9.7% during the fourth quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company’s stock valued at $115,000 after acquiring an additional 147 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on INSM. Bank of America increased their target price on Insmed from $94.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, June 11th. Wells Fargo & Company lifted their price objective on shares of Insmed from $107.00 to $119.00 and gave the company an “overweight” rating in a research report on Wednesday, June 11th. The Goldman Sachs Group boosted their target price on shares of Insmed from $100.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, June 11th. Leerink Partners raised their target price on shares of Insmed from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, June 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Insmed from $90.00 to $111.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. One research analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.47.

Insiders Place Their Bets

In related news, insider Martina M.D. Flammer sold 9,925 shares of the firm’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 owned 86,596 shares of the company’s stock, valued at $5,669,440.12. This trade represents a 10.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sara Bonstein sold 57,766 shares of the company’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $89.12, for a total transaction of $5,148,105.92. Following the completion of the transaction, the chief financial officer owned 103,412 shares in the company, valued at $9,216,077.44. This represents a 35.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 548,197 shares of company stock worth $49,124,834. Corporate insiders own 3.00% of the company’s stock.

Insmed Price Performance

NASDAQ:INSM opened at $102.56 on Friday. The firm has a market capitalization of $19.46 billion, a price-to-earnings ratio of -17.24 and a beta of 0.90. The company has a debt-to-equity ratio of 11.38, a current ratio of 5.86 and a quick ratio of 5.44. The business has a 50 day simple moving average of $86.93 and a 200-day simple moving average of $78.50. Insmed, Inc. has a 1 year low of $60.40 and a 1 year high of $106.83.

Insmed (NASDAQ:INSM) last posted 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 firm had revenue of $92.82 million for the quarter, compared to analysts’ expectations of $91.63 million. During the same period in the previous year, the firm earned ($1.06) earnings per share. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. Equities analysts forecast that Insmed, Inc. will post -4.56 EPS for the current year.

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.