Federated Hermes Inc. Acquires 219,838 Shares of Insmed, Inc. $INSM

Federated Hermes Inc. increased its stake in Insmed, Inc. (NASDAQ:INSM) by 202.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 328,223 shares of the biopharmaceutical company’s stock after acquiring an additional 219,838 shares during the period. Federated Hermes Inc. owned approximately 0.16% of Insmed worth $47,267,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Artisan Partners Limited Partnership boosted its holdings in shares of Insmed by 3.0% in the 2nd quarter. Artisan Partners Limited Partnership now owns 3,314,341 shares of the biopharmaceutical company’s stock worth $333,555,000 after purchasing an additional 97,073 shares during the period. Norges Bank purchased a new stake in Insmed during the 2nd quarter valued at $194,728,000. Orbis Allan Gray Ltd bought a new stake in Insmed in the second quarter worth $153,389,000. Eventide Asset Management LLC boosted its stake in Insmed by 1.3% during the second quarter. Eventide Asset Management LLC now owns 1,196,494 shares of the biopharmaceutical company’s stock worth $120,411,000 after buying an additional 14,819 shares during the period. Finally, Marshall Wace LLP boosted its stake in Insmed by 59.9% during the second quarter. Marshall Wace LLP now owns 1,113,361 shares of the biopharmaceutical company’s stock worth $112,049,000 after buying an additional 417,124 shares during the period.

Insmed Stock Performance

Shares of NASDAQ:INSM opened at $157.82 on Friday. The firm has a market cap of $33.66 billion, a PE ratio of -25.50 and a beta of 1.08. The firm’s 50 day simple moving average is $181.08 and its 200-day simple moving average is $157.83. Insmed, Inc. has a one year low of $60.40 and a one year high of $212.75. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.34 and a current ratio of 4.63.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.40). The firm had revenue of $142.34 million during the quarter, compared to analysts’ expectations of $114.33 million. Insmed had a negative net margin of 264.83% and a negative return on equity of 183.55%. The firm’s revenue for the quarter was up 52.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.27) EPS. As a group, equities analysts predict that Insmed, Inc. will post -4.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group set a $269.00 target price on shares of Insmed in a report on Wednesday, December 10th. Roth Mkm raised shares of Insmed to a “strong-buy” rating in a research report on Friday, January 23rd. Wedbush set a $203.00 price objective on shares of Insmed in a research note on Thursday, December 18th. Wells Fargo & Company set a $195.00 target price on Insmed in a research note on Thursday, December 18th. Finally, Guggenheim reduced their price target on Insmed from $230.00 to $221.00 and set a “buy” rating on the stock in a report on Thursday, December 18th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Insmed has an average rating of “Buy” and a consensus target price of $205.83.

Insider Transactions at Insmed

In other news, CFO Sara Bonstein sold 1,447 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $174.17, for a total value of $252,023.99. Following the completion of the sale, the chief financial officer owned 80,506 shares of the company’s stock, valued at approximately $14,021,730.02. This represents a 1.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger Adsett sold 2,059 shares of Insmed stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $174.17, for a total transaction of $358,616.03. Following the transaction, the chief operating officer directly owned 107,601 shares in the company, valued at approximately $18,740,866.17. The trade was a 1.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 296,799 shares of company stock valued at $54,296,286. Insiders own 3.00% of the company’s stock.

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.