OP Asset Management Ltd Acquires New Stake in Insmed, Inc. $INSM

OP Asset Management Ltd acquired a new stake in Insmed, Inc. (NASDAQ:INSM) during the first quarter, Holdings Channel reports. The fund acquired 22,222 shares of the biopharmaceutical company’s stock, valued at approximately $3,634,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise grew its holdings in shares of Insmed by 116.1% during the first quarter. Banque Cantonale Vaudoise now owns 3,923 shares of the biopharmaceutical company’s stock worth $641,000 after buying an additional 2,108 shares in the last quarter. PKO Investment Management Joint Stock Co lifted its stake in shares of Insmed by 4.4% in the first quarter. PKO Investment Management Joint Stock Co now owns 11,800 shares of the biopharmaceutical company’s stock worth $1,930,000 after buying an additional 500 shares in the last quarter. Values First Advisors Inc. lifted its stake in shares of Insmed by 7.1% in the first quarter. Values First Advisors Inc. now owns 2,203 shares of the biopharmaceutical company’s stock worth $360,000 after buying an additional 146 shares in the last quarter. SG Americas Securities LLC boosted its position in Insmed by 105.4% during the first quarter. SG Americas Securities LLC now owns 137,149 shares of the biopharmaceutical company’s stock worth $22,427,000 after acquiring an additional 70,387 shares during the last quarter. Finally, KRS Capital Management LLC acquired a new position in Insmed during the first quarter worth about $203,000.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Mizuho set a $192.00 price objective on shares of Insmed in a report on Tuesday, June 16th. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a report on Wednesday, June 10th. JPMorgan Chase & Co. dropped their price target on Insmed from $180.00 to $179.00 and set an “overweight” rating for the company in a research report on Monday, June 8th. Stifel Nicolaus increased their price target on Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Finally, HC Wainwright reiterated a “buy” rating on shares of Insmed in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $211.86.

Insmed Price Performance

Insmed stock opened at $103.38 on Friday. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average price of $112.90 and a 200 day moving average price of $143.82. Insmed, Inc. has a 12-month low of $90.39 and a 12-month high of $212.75. The stock has a market cap of $22.41 billion, a P/E ratio of -17.98 and a beta of 0.79.

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 the consensus estimate of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The company had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same period in the previous year, the business posted ($1.42) EPS. Insmed’s revenue was up 229.7% on a year-over-year basis. Sell-side analysts anticipate that Insmed, Inc. will post -2.55 earnings per share for the current year.

Insider Activity

In other Insmed news, CFO Sara Bonstein sold 2,404 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $245,857.08. Following the completion of the sale, the chief financial officer owned 69,082 shares of the company’s stock, valued at $7,065,016.14. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Alexander Smith sold 1,806 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $95.82, for a total value of $173,050.92. Following the sale, the insider directly owned 37,648 shares of the company’s stock, valued at approximately $3,607,431.36. This trade represents a 4.58% decrease in their position. 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 172,987 shares of company stock worth $25,286,564 in the last 90 days. 2.10% of the stock is owned by corporate 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.