Bank of New York Mellon Corp Trims Stock Holdings in Insmed, Inc. $INSM

Bank of New York Mellon Corp decreased its holdings in shares of Insmed, Inc. (NASDAQ:INSM) by 4.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,138,901 shares of the biopharmaceutical company’s stock after selling 58,572 shares during the quarter. Bank of New York Mellon Corp owned about 0.54% of Insmed worth $164,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Spire Wealth Management raised its stake in shares of Insmed by 11.5% during the 3rd quarter. Spire Wealth Management now owns 777 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 80 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of Insmed by 59.6% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 217 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 81 shares during the period. Moody Aldrich Partners LLC grew its position in shares of Insmed by 2.4% during the 3rd quarter. Moody Aldrich Partners LLC now owns 5,551 shares of the biopharmaceutical company’s stock valued at $799,000 after purchasing an additional 132 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Insmed by 169.7% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 151 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Insmed by 24.8% during the second quarter. First Horizon Advisors Inc. now owns 936 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 186 shares during the period.

Analysts Set New Price Targets

INSM has been the subject of several recent analyst reports. Truist Financial set a $205.00 target price on Insmed in a research report on Monday, January 12th. The Goldman Sachs Group boosted their price objective on Insmed from $225.00 to $258.00 and gave the stock a “buy” rating in a report on Monday, December 15th. HC Wainwright decreased their price objective on shares of Insmed from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. Rothschild Redb raised shares of Insmed to a “strong-buy” rating in a research note on Thursday, December 4th. Finally, Barclays assumed coverage on shares of Insmed in a research note on Tuesday. They issued an “overweight” rating and a $231.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $206.04.

Insider Buying and Selling at Insmed

In other news, CFO Sara Bonstein sold 1,447 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $174.17, for a total transaction of $252,023.99. Following the transaction, the chief financial officer directly owned 80,506 shares of the company’s stock, valued at approximately $14,021,730.02. This trade represents a 1.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Roger Adsett sold 2,059 shares of Insmed stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $174.17, for a total value of $358,616.03. Following the completion of the transaction, the chief operating officer owned 107,601 shares in the company, valued at approximately $18,740,866.17. This represents a 1.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 296,799 shares of company stock valued at $54,296,286. Corporate insiders own 3.00% of the company’s stock.

Insmed Stock Down 0.6%

Shares of INSM opened at $156.87 on Friday. Insmed, Inc. has a 1 year low of $60.40 and a 1 year high of $212.75. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.63 and a quick ratio of 4.34. The stock has a 50 day simple moving average of $180.24 and a two-hundred day simple moving average of $158.21. The firm has a market cap of $33.46 billion, a P/E ratio of -25.34 and a beta of 1.08.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.40). Insmed had a negative net margin of 264.83% and a negative return on equity of 183.55%. The business had revenue of $142.34 million during the quarter, compared to analysts’ expectations of $114.33 million. During the same period last year, the company posted ($1.27) EPS. Insmed’s revenue for the quarter was up 52.4% on a year-over-year basis. On average, analysts forecast that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

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.