Insmed, Inc. $INSM Shares Bought by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. raised its stake in Insmed, Inc. (NASDAQ:INSM) by 88.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 16,775 shares of the biopharmaceutical company’s stock after acquiring an additional 7,863 shares during the period. Rockefeller Capital Management L.P.’s holdings in Insmed were worth $2,920,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. CoreCap Advisors LLC acquired a new position in Insmed in the fourth quarter worth about $27,000. Reflection Asset Management acquired a new stake in Insmed during the fourth quarter valued at approximately $30,000. GraniteShares Advisors LLC bought a new position in Insmed during the 4th quarter worth approximately $30,000. CIBC Private Wealth Group LLC lifted its holdings in Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 53 shares during the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in shares of Insmed in the 4th quarter worth approximately $32,000.

Insiders Place Their Bets

In related news, insider Michael Alexander Smith sold 1,806 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $95.82, for a total value of $173,050.92. Following the completion of the sale, the insider owned 37,648 shares of the company’s stock, valued at $3,607,431.36. This represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Lewis sold 21,398 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $103.32, for a total transaction of $2,210,841.36. Following the completion of the transaction, the chief executive officer owned 258,917 shares of the company’s stock, valued at $26,751,304.44. This trade represents a 7.63% 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 have sold 153,349 shares of company stock valued at $22,321,619 in the last quarter. 2.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Jefferies Financial Group began coverage on Insmed in a research report on Monday, March 16th. They set a “buy” rating and a $228.00 price target on the stock. Stifel Nicolaus lifted their price objective on shares of Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Bank of America boosted their target price on shares of Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Wells Fargo & Company dropped their target price on shares of Insmed from $177.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.86.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $103.38 on Monday. The firm’s 50 day moving average is $112.90 and its two-hundred day moving average is $143.45. Insmed, Inc. has a 52 week low of $90.39 and a 52 week high of $212.75. The firm has a market capitalization of $22.41 billion, a P/E ratio of -17.98 and a beta of 0.79. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80.

Insmed (NASDAQ:INSM) last released its quarterly 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 company 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%.The business’s revenue for the quarter was up 229.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.42) earnings per share. Analysts anticipate that Insmed, Inc. will post -2.55 earnings per share for the current 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.