SEB Asset Management AB Buys New Shares in Insmed, Inc. $INSM

SEB Asset Management AB bought a new stake in shares of Insmed, Inc. (NASDAQ:INSM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 165,576 shares of the biopharmaceutical company’s stock, valued at approximately $27,075,000.

Several other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in shares of Insmed by 65.6% in the second quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $67,000 after acquiring an additional 263 shares in the last quarter. First Trust Advisors LP grew its position in shares of Insmed by 80.8% during the second quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock worth $4,770,000 after purchasing an additional 21,176 shares in the last quarter. Baird Financial Group Inc. bought a new stake in Insmed during the 2nd quarter valued at approximately $2,589,000. Amundi raised its stake in Insmed by 21,194.4% during the 2nd quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock valued at $1,130,000 after purchasing an additional 11,445 shares during the period. Finally, Natixis bought a new stake in Insmed during the 2nd quarter valued at approximately $1,072,000.

Insmed Stock Performance

NASDAQ:INSM opened at $108.32 on Monday. The company has a market cap of $23.48 billion, a price-to-earnings ratio of -18.84 and a beta of 0.78. Insmed, Inc. has a 1 year low of $90.39 and a 1 year high of $212.75. The stock’s 50 day simple moving average is $105.72 and its two-hundred day simple moving average is $135.63. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The firm had revenue of $305.96 million during the quarter, compared to the consensus estimate of $300.81 million. During the same period in the prior year, the company earned ($1.42) EPS. The company’s quarterly revenue was up 229.7% compared to the same quarter last year. As a group, equities analysts anticipate that Insmed, Inc. will post -2.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Insmed

In other Insmed news, insider Michael Alexander Smith sold 1,806 shares of Insmed stock in a transaction on 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 transaction, the insider directly owned 37,648 shares of the company’s stock, valued at $3,607,431.36. This trade represents a 4.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sara Bonstein sold 2,404 shares of Insmed 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 transaction, the chief financial officer directly owned 69,082 shares of the company’s stock, valued at $7,065,016.14. The trade was a 3.36% 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 sold 54,590 shares of company stock worth $5,793,738 in the last ninety days. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

INSM has been the subject of several recent analyst reports. Roth Capital restated a “buy” rating on shares of Insmed in a research note on Monday, June 8th. Leerink Partners upped their target price on shares of Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a research note on Friday, May 8th. Mizuho set a $192.00 price target on shares of Insmed in a report on Tuesday, June 16th. Finally, Morgan Stanley upgraded shares of Insmed from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $166.00 to $212.00 in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $211.05.

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.