506,245 Shares in Insmed, Inc. $INSM Bought by Bank of Nova Scotia

Bank of Nova Scotia purchased a new stake in shares of Insmed, Inc. (NASDAQ:INSM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 506,245 shares of the biopharmaceutical company’s stock, valued at approximately $72,904,000. Bank of Nova Scotia owned 0.24% of Insmed as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the company. Savant Capital LLC acquired a new position in shares of Insmed during the second quarter worth approximately $205,000. PNC Financial Services Group Inc. increased its position in Insmed by 8.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 11,576 shares of the biopharmaceutical company’s stock valued at $1,165,000 after acquiring an additional 933 shares during the period. Creative Planning increased its position in Insmed by 0.6% in the 2nd quarter. Creative Planning now owns 72,176 shares of the biopharmaceutical company’s stock valued at $7,264,000 after acquiring an additional 432 shares during the period. Cetera Investment Advisers raised its stake in Insmed by 52.1% during the 2nd quarter. Cetera Investment Advisers now owns 31,462 shares of the biopharmaceutical company’s stock valued at $3,166,000 after acquiring an additional 10,783 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in Insmed during the 2nd quarter valued at $228,000.

Analyst Upgrades and Downgrades

A number of research firms have commented on INSM. Roth Mkm upgraded shares of Insmed to a “strong-buy” rating in a research report on Friday, January 23rd. Citigroup reiterated an “outperform” rating on shares of Insmed in a report on Thursday, December 18th. TD Cowen set a $241.00 price objective on shares of Insmed in a research note on Thursday, December 18th. Guggenheim dropped their target price on Insmed from $230.00 to $221.00 and set a “buy” rating on the stock in a report on Thursday, December 18th. Finally, Leerink Partners restated an “outperform” rating on shares of Insmed in a research report on Thursday, December 18th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $207.52.

Insider Activity at Insmed

In other news, CEO William Lewis sold 19,215 shares of the firm’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $169.00, for a total transaction of $3,247,335.00. Following the transaction, the chief executive officer owned 306,891 shares in the company, valued at approximately $51,864,579. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Orlov S. Nicole Schaeffer sold 87,290 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $175.20, for a total value of $15,293,208.00. Following the transaction, the insider owned 41,754 shares in the company, valued at approximately $7,315,300.80. This trade represents a 67.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 189,651 shares of company stock worth $31,784,545. Insiders own 3.00% of the company’s stock.

Insmed Stock Down 0.0%

INSM stock opened at $139.50 on Monday. 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 firm has a market capitalization of $30.07 billion, a P/E ratio of -21.76 and a beta of 1.13. Insmed, Inc. has a 52-week low of $60.40 and a 52-week high of $212.75. The company’s 50 day simple moving average is $155.18 and its 200-day simple moving average is $166.16.

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

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.