Bank of New York Mellon Corp Cuts Stake in Insmed, Inc. $INSM

Bank of New York Mellon Corp lessened its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 9.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,262,749 shares of the biopharmaceutical company’s stock after selling 127,293 shares during the quarter. Bank of New York Mellon Corp owned 0.59% of Insmed worth $206,485,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. CIBC Private Wealth Group LLC grew its stake in shares of Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 53 shares in the last quarter. CoreCap Advisors LLC purchased a new stake in shares of Insmed during the fourth quarter valued at approximately $27,000. GraniteShares Advisors LLC purchased a new stake in shares of Insmed during the fourth quarter valued at approximately $30,000. Reflection Asset Management acquired a new position in shares of Insmed during the fourth quarter worth $30,000. Finally, Raiffeisen Bank International AG acquired a new position in shares of Insmed during the fourth quarter worth $32,000.

Insider Activity at Insmed

In related news, insider Michael Alexander Smith sold 6,149 shares of Insmed stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $108.47, for a total value of $666,982.03. Following the completion of the transaction, the insider directly owned 41,613 shares in the company, valued at approximately $4,513,762.11. This trade represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Lewis sold 21,398 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $103.32, for a total value of $2,210,841.36. Following the completion of the sale, the chief executive officer directly owned 258,917 shares of the company’s stock, valued at approximately $26,751,304.44. This represents a 7.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 54,590 shares of company stock worth $5,793,738. 2.10% of the stock is currently owned by company insiders.

Insmed Trading Up 0.8%

INSM opened at $108.32 on Friday. Insmed, Inc. has a 12-month low of $90.39 and a 12-month high of $212.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The stock has a market capitalization of $23.48 billion, a PE ratio of -18.84 and a beta of 0.78. The firm’s fifty day moving average price is $105.72 and its 200 day moving average price is $135.91.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.14. The company had revenue of $305.96 million during the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm’s revenue for the quarter was up 229.7% compared to the same quarter last year. During the same period last year, the business earned ($1.42) EPS. As a group, research analysts expect that Insmed, Inc. will post -2.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INSM. Wells Fargo & Company raised their price target on shares of Insmed from $160.00 to $161.00 and gave the company an “overweight” rating in a report on Wednesday. Guggenheim reiterated a “buy” rating and issued a $207.00 price objective on shares of Insmed in a report on Friday, July 10th. Roth Capital reissued a “buy” rating on shares of Insmed in a research report on Monday, June 8th. JPMorgan Chase & Co. lowered their target price on Insmed from $180.00 to $179.00 and set an “overweight” rating for the company in a research note on Monday, June 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Insmed in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $211.05.

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.