Sofinnova Investments Inc. Buys 52,462 Shares of Insmed, Inc. $INSM

Sofinnova Investments Inc. boosted its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 50.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,801 shares of the biopharmaceutical company’s stock after purchasing an additional 52,462 shares during the quarter. Sofinnova Investments Inc. owned about 0.07% of Insmed worth $27,290,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in INSM. Norges Bank bought a new stake in Insmed during the fourth quarter worth approximately $506,625,000. Vanguard Group Inc. boosted its position in Insmed by 13.0% during the third quarter. Vanguard Group Inc. now owns 19,935,820 shares of the biopharmaceutical company’s stock worth $2,870,957,000 after purchasing an additional 2,291,328 shares during the period. Artisan Partners Limited Partnership boosted its position in Insmed by 49.0% during the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after purchasing an additional 1,623,342 shares during the period. Orbis Allan Gray Ltd bought a new stake in Insmed during the second quarter worth approximately $153,389,000. Finally, State Street Corp boosted its position in Insmed by 30.6% during the fourth quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock worth $905,312,000 after purchasing an additional 1,217,390 shares during the period.

Analyst Ratings Changes

INSM has been the subject of several research reports. Morgan Stanley raised Insmed from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $166.00 to $212.00 in a research report on Monday, March 30th. HC Wainwright reissued a “buy” rating on shares of Insmed in a research report on Friday, May 8th. JPMorgan Chase & Co. reduced their price objective on Insmed from $180.00 to $179.00 and set an “overweight” rating for the company in a research report on Monday, June 8th. Barclays increased their price objective on Insmed from $231.00 to $237.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Finally, Wells Fargo & Company reduced their price objective on Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. One equities 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’s stock. According to MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and a consensus price target of $212.50.

Insider Buying and Selling

In other Insmed news, COO Roger Adsett sold 88,060 shares of Insmed 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 completion of the transaction, the chief operating officer directly owned 106,810 shares of the company’s stock, valued at approximately $17,584,130.30. This trade represents a 45.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Lewis sold 10,699 shares of Insmed 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 transaction, the chief executive officer directly owned 301,185 shares of the company’s stock, valued at approximately $43,361,604.45. The trade was a 3.43% 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. Insiders sold a total of 160,482 shares of company stock valued at $24,438,193 in the last ninety days. Insiders own 2.10% of the company’s stock.

Insmed Stock Performance

NASDAQ INSM opened at $97.46 on Tuesday. The stock has a market cap of $21.12 billion, a P/E ratio of -16.95 and a beta of 0.79. The company’s 50-day simple moving average is $123.25 and its 200 day simple moving average is $150.13. Insmed, Inc. has a twelve month low of $90.39 and a twelve month high of $212.75. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. The business had revenue of $305.96 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.42) earnings per share. As a group, research analysts forecast that Insmed, Inc. will post -2.54 earnings per share for the current fiscal 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.