Truist Financial Corp Buys 1,409 Shares of Insmed, Inc. $INSM

Truist Financial Corp grew its stake in Insmed, Inc. (NASDAQ:INSM) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,483 shares of the biopharmaceutical company’s stock after acquiring an additional 1,409 shares during the quarter. Truist Financial Corp’s holdings in Insmed were worth $4,678,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Insmed in the 1st quarter valued at about $975,000. OneDigital Investment Advisors LLC increased its stake in shares of Insmed by 47.1% in the 1st quarter. OneDigital Investment Advisors LLC now owns 5,226 shares of the biopharmaceutical company’s stock valued at $399,000 after acquiring an additional 1,673 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Insmed in the 1st quarter valued at about $441,000. Sowell Financial Services LLC bought a new stake in shares of Insmed in the 1st quarter valued at about $255,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Insmed by 84.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 73,404 shares of the biopharmaceutical company’s stock valued at $7,387,000 after acquiring an additional 33,626 shares during the last quarter.

Insider Buying and Selling

In other Insmed news, CEO William Lewis sold 6,865 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $128.40, for a total transaction of $881,466.00. Following the completion of the sale, the chief executive officer owned 233,924 shares of the company’s stock, valued at $30,035,841.60. This trade represents a 2.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 76,520 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $145.45, for a total value of $11,129,834.00. Following the sale, the insider directly owned 36,461 shares of the company’s stock, valued at $5,303,252.45. This represents a 67.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,568 shares of company stock worth $28,305,070 in the last quarter. 3.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

INSM has been the subject of a number of research reports. Royal Bank Of Canada increased their target price on Insmed from $108.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Evercore ISI reissued an “outperform” rating and set a $180.00 target price on shares of Insmed in a research note on Wednesday, October 1st. Citigroup raised Insmed to a “buy” rating in a research note on Tuesday, June 10th. HC Wainwright increased their target price on Insmed from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, June 11th. Finally, JPMorgan Chase & Co. increased their target price on Insmed from $111.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Nineteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $149.06.

Insmed Trading Up 2.6%

NASDAQ INSM opened at $162.32 on Wednesday. The company has a market cap of $34.31 billion, a PE ratio of -28.43 and a beta of 1.03. The company has a current ratio of 6.68, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45. Insmed, Inc. has a 12 month low of $60.40 and a 12 month high of $162.44. The stock has a 50 day moving average of $134.74 and a 200-day moving average of $100.23.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.30) by ($0.40). The company had revenue of $107.42 million during the quarter, compared to analyst estimates of $104.06 million. Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.94) EPS. Insmed has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

About Insmed

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.