Fifth Third Bancorp Boosts Stock Position in Insmed, Inc. $INSM

Fifth Third Bancorp increased its holdings in shares of Insmed, Inc. (NASDAQ:INSM) by 4,983.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,200 shares of the biopharmaceutical company’s stock after buying an additional 17,842 shares during the period. Fifth Third Bancorp’s holdings in Insmed were worth $2,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in 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 in the last quarter. First Trust Advisors LP boosted its holdings in Insmed by 80.8% in the 2nd quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock worth $4,770,000 after buying an additional 21,176 shares during the last quarter. Baird Financial Group Inc. acquired a new stake in Insmed in the 2nd quarter worth about $2,589,000. Amundi increased its stake in Insmed by 21,194.4% during the 2nd quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock worth $1,130,000 after buying an additional 11,445 shares in the last quarter. Finally, Natixis purchased a new stake in Insmed during the 2nd quarter worth approximately $1,072,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on INSM shares. BMO Capital Markets started coverage on Insmed in a research note on Monday. They issued an “outperform” rating and a $192.00 price target on the stock. Raymond James Financial assumed coverage on Insmed in a research note on Friday, April 10th. They issued an “outperform” rating and a $200.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research note on Wednesday, June 10th. Bank of America upped their target price on shares of Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Finally, Roth Capital restated a “buy” rating on shares of Insmed in a research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Insmed currently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Insider Transactions at Insmed

In other Insmed news, COO Roger Adsett sold 2,370 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $242,379.90. Following the sale, the chief operating officer directly owned 98,603 shares in the company, valued at $10,084,128.81. This represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Alexander Smith sold 1,806 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $95.82, for a total value of $173,050.92. Following the completion of the sale, the insider directly owned 37,648 shares in the company, valued at $3,607,431.36. This represents a 4.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 54,590 shares of company stock worth $5,793,738 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Insmed Stock Down 1.2%

NASDAQ INSM opened at $107.02 on Tuesday. The business’s fifty day simple moving average is $105.79 and its 200-day simple moving average is $135.16. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The firm has a market cap of $23.20 billion, a PE ratio of -18.61 and a beta of 0.78. Insmed, Inc. has a 52 week low of $90.39 and a 52 week high of $212.75.

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

About Insmed

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.