PNC Financial Services Group Inc. Has $812,000 Position in Insmed, Inc. (NASDAQ:INSM)

PNC Financial Services Group Inc. lowered its stake in Insmed, Inc. (NASDAQ:INSM) by 10.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,643 shares of the biopharmaceutical company’s stock after selling 1,244 shares during the period. PNC Financial Services Group Inc.’s holdings in Insmed were worth $812,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of INSM. Cullen Frost Bankers Inc. increased its holdings in shares of Insmed by 164.9% in the first quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 221 shares in the last quarter. Elequin Capital LP acquired a new stake in shares of Insmed in the fourth quarter valued at approximately $28,000. NBC Securities Inc. acquired a new stake in shares of Insmed in the first quarter valued at approximately $49,000. Versant Capital Management Inc increased its holdings in shares of Insmed by 546.3% in the first quarter. Versant Capital Management Inc now owns 698 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 590 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Insmed by 60.0% in the first quarter. Signaturefd LLC now owns 867 shares of the biopharmaceutical company’s stock valued at $66,000 after purchasing an additional 325 shares in the last quarter.

Insmed Stock Up 3.0%

Shares of NASDAQ:INSM opened at $112.89 on Tuesday. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $114.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.33 and a current ratio of 6.68. The company has a market capitalization of $23.86 billion, a PE ratio of -19.77 and a beta of 0.95. The company has a 50 day moving average price of $99.47 and a two-hundred day moving average price of $82.64.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.30) by ($0.40). Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The firm had revenue of $107.42 million during the quarter, compared to the consensus estimate of $104.06 million. During the same period in the previous year, the company posted ($1.94) EPS. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. Analysts forecast that Insmed, Inc. will post -4.56 earnings per share for the current year.

Insider Activity at Insmed

In other news, CEO William Lewis sold 6,830 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $102.37, for a total transaction of $699,187.10. Following the completion of the sale, the chief executive officer owned 233,924 shares of the company’s stock, valued at $23,946,799.88. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Alexander Smith sold 933 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $102.51, for a total transaction of $95,641.83. Following the sale, the insider directly owned 66,394 shares of the company’s stock, valued at $6,806,048.94. This represents a 1.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 548,159 shares of company stock worth $51,140,221 over the last three months. 3.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

INSM has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price target on shares of Insmed from $90.00 to $111.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. HC Wainwright increased their price objective on shares of Insmed from $90.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. Royal Bank Of Canada increased their price objective on shares of Insmed from $108.00 to $120.00 and gave the company an “outperform” rating in a report on Friday. Wells Fargo & Company increased their price objective on shares of Insmed from $119.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, July 22nd. Finally, Citigroup upgraded shares of Insmed to a “buy” rating in a report on Tuesday, June 10th. Sixteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $112.71.

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.