Simplify Asset Management Inc. Raises Holdings in Insmed, Inc. $INSM

Simplify Asset Management Inc. boosted its position in Insmed, Inc. (NASDAQ:INSM) by 87.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 36,890 shares of the biopharmaceutical company’s stock after buying an additional 17,226 shares during the period. Insmed accounts for about 0.1% of Simplify Asset Management Inc.’s holdings, making the stock its 29th largest holding. Simplify Asset Management Inc.’s holdings in Insmed were worth $6,420,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Swedbank AB purchased a new position in Insmed in the 4th quarter valued at approximately $10,364,000. EverSource Wealth Advisors LLC increased its stake in Insmed by 10.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $130,000 after purchasing an additional 69 shares in the last quarter. Legato Capital Management LLC increased its stake in Insmed by 14.9% in the 4th quarter. Legato Capital Management LLC now owns 40,006 shares of the biopharmaceutical company’s stock valued at $6,963,000 after purchasing an additional 5,174 shares in the last quarter. Global Retirement Partners LLC increased its stake in Insmed by 107.7% in the 4th quarter. Global Retirement Partners LLC now owns 3,838 shares of the biopharmaceutical company’s stock valued at $668,000 after purchasing an additional 1,990 shares in the last quarter. Finally, Leonteq Securities AG purchased a new position in Insmed in the 4th quarter valued at approximately $522,000.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Morgan Stanley raised Insmed from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $166.00 to $212.00 in a research note on Monday, March 30th. Guggenheim dropped their price objective on Insmed from $230.00 to $226.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Wells Fargo & Company dropped their price objective on Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a research note on Friday, May 8th. Finally, Truist Financial dropped their price objective on Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.95.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $106.24 on Monday. The business’s fifty day moving average price is $137.89 and its two-hundred day moving average price is $160.69. The stock has a market cap of $23.03 billion, a PE ratio of -18.48 and a beta of 0.89. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. Insmed, Inc. has a one year low of $65.56 and a one year high of $212.75.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. The firm had revenue of $305.96 million for the quarter, compared to analysts’ expectations of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.Insmed’s quarterly revenue was up 229.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.42) EPS. On average, analysts forecast that Insmed, Inc. will post -2.52 EPS for the current fiscal year.

Insider Buying and Selling at Insmed

In other Insmed news, COO Roger Adsett sold 88,060 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $164.63, for a total transaction of $14,497,317.80. Following the sale, the chief operating officer owned 106,810 shares in the company, valued at approximately $17,584,130.30. This represents a 45.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Lewis sold 10,699 shares of the stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $143.97, for a total value of $1,540,335.03. Following the sale, the chief executive officer owned 301,185 shares in the company, valued at approximately $43,361,604.45. This trade represents a 3.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 156,643 shares of company stock worth $24,513,766. 2.10% of the stock is owned by 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.