Hsbc Holdings PLC Increases Stock Holdings in Insmed, Inc. $INSM

Hsbc Holdings PLC boosted its stake in Insmed, Inc. (NASDAQ:INSM) by 8,052.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 123,267 shares of the biopharmaceutical company’s stock after purchasing an additional 121,755 shares during the quarter. Hsbc Holdings PLC’s holdings in Insmed were worth $21,493,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC raised its position in Insmed by 42.1% during the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 53 shares during the period. Kingsview Wealth Management LLC grew its position in shares of Insmed by 2.7% in the third quarter. Kingsview Wealth Management LLC now owns 2,321 shares of the biopharmaceutical company’s stock valued at $334,000 after purchasing an additional 60 shares during the period. Choreo LLC increased its stake in shares of Insmed by 2.9% during the third quarter. Choreo LLC now owns 2,319 shares of the biopharmaceutical company’s stock worth $334,000 after purchasing an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Insmed by 10.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 747 shares of the biopharmaceutical company’s stock worth $130,000 after purchasing an additional 69 shares in the last quarter. Finally, ORG Partners LLC increased its stake in shares of Insmed by 12.7% during the fourth quarter. ORG Partners LLC now owns 657 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 74 shares in the last quarter.

Insmed Price Performance

Shares of NASDAQ INSM opened at $103.44 on Thursday. The firm has a 50-day simple moving average of $114.74 and a 200-day simple moving average of $144.81. 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 stock has a market capitalization of $22.42 billion, a price-to-earnings ratio of -17.99 and a beta of 0.79. Insmed, Inc. has a 52 week low of $90.39 and a 52 week high of $212.75.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. The firm had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. Insmed’s quarterly revenue was up 229.7% on a year-over-year basis. During the same period in the previous year, the business posted ($1.42) earnings per share. On average, equities analysts predict that Insmed, Inc. will post -2.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on INSM. JPMorgan Chase & Co. decreased their price target on shares of Insmed from $180.00 to $179.00 and set an “overweight” rating on the stock in a research note on Monday, June 8th. Mizuho set a $192.00 price objective on Insmed in a research note on Tuesday, June 16th. HC Wainwright reissued a “buy” rating on shares of Insmed in a report on Friday, May 8th. Stifel Nicolaus increased their target price on Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Finally, Morgan Stanley upgraded Insmed from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $166.00 to $212.00 in a research report on Monday, March 30th. One 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.86.

Insider Buying and Selling at Insmed

In other Insmed news, COO Roger Adsett sold 2,370 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $242,379.90. Following the transaction, the chief operating officer directly owned 98,603 shares of the company’s stock, valued at $10,084,128.81. This trade represents a 2.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 7,605 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $777,763.35. Following the transaction, the chief executive officer owned 265,432 shares in the company, valued at approximately $27,145,730.64. This represents a 2.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 151,589 shares of company stock worth $23,075,723 in the last quarter. Insiders own 2.10% of the company’s stock.

Insmed 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.