Assetmark Inc. Acquires 4,438 Shares of Insmed, Inc. $INSM

Assetmark Inc. boosted its holdings in Insmed, Inc. (NASDAQ:INSM) by 12.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,732 shares of the biopharmaceutical company’s stock after buying an additional 4,438 shares during the period. Assetmark Inc.’s holdings in Insmed were worth $6,915,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its position in shares of Insmed by 65.6% during the second quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 263 shares during the period. First Trust Advisors LP increased its position in shares of Insmed by 80.8% during the second quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock valued at $4,770,000 after purchasing an additional 21,176 shares during the period. Baird Financial Group Inc. bought a new stake in shares of Insmed during the second quarter valued at approximately $2,589,000. Amundi increased its position in shares of Insmed by 21,194.4% during the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock valued at $1,130,000 after purchasing an additional 11,445 shares during the period. Finally, Natixis bought a new stake in shares of Insmed during the second quarter valued at approximately $1,072,000.

Insmed Stock Performance

Insmed stock opened at $144.48 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.83 and a quick ratio of 3.54. The stock has a fifty day moving average price of $149.95 and a two-hundred day moving average price of $167.47. Insmed, Inc. has a 52-week low of $63.81 and a 52-week high of $212.75. The firm has a market capitalization of $31.19 billion, a P/E ratio of -22.54 and a beta of 1.10.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.47). The company had revenue of $263.84 million for the quarter, compared to analyst estimates of $263.97 million. Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The business’s revenue was up 152.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.32) earnings per share. As a group, analysts anticipate that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Barclays boosted their price objective on Insmed from $231.00 to $237.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Raymond James Financial initiated coverage on shares of Insmed in a research report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price target for the company. Guggenheim restated a “buy” rating and set a $230.00 price target on shares of Insmed in a research note on Thursday. Wells Fargo & Company decreased their price objective on Insmed from $208.00 to $175.00 and set an “overweight” rating on the stock in a report on Monday, March 23rd. Finally, Truist Financial set a $205.00 target price on Insmed in a report on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $213.23.

Insiders Place Their Bets

In other Insmed news, CEO William Lewis sold 13,396 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $147.79, for a total value of $1,979,794.84. Following the transaction, the chief executive officer owned 301,185 shares of the company’s stock, valued at approximately $44,512,131.15. The trade was a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Alexander Smith sold 19,638 shares of the business’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $150.98, for a total value of $2,964,945.24. Following the completion of the transaction, the insider directly owned 51,871 shares in the company, valued at approximately $7,831,483.58. This represents a 27.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 190,476 shares of company stock valued at $29,953,112. 2.10% of the stock is currently owned by corporate insiders.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.