EFG Asset Management North America Corp. Buys 56,758 Shares of Insmed Incorporated (NASDAQ:INSM)

EFG Asset Management North America Corp. raised its position in shares of Insmed Incorporated (NASDAQ:INSM) by 111.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,625 shares of the biopharmaceutical company’s stock after purchasing an additional 56,758 shares during the period. Insmed makes up approximately 1.0% of EFG Asset Management North America Corp.’s holdings, making the stock its 13th largest holding. EFG Asset Management North America Corp. owned approximately 0.06% of Insmed worth $7,431,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake in shares of Insmed by 0.6% in the 4th quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock valued at $53,424,000 after purchasing an additional 4,560 shares in the last quarter. Capital CS Group LLC bought a new stake in Insmed in the fourth quarter worth $586,000. Orion Portfolio Solutions LLC boosted its position in Insmed by 48.5% during the third quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock valued at $2,050,000 after buying an additional 9,170 shares during the period. Ally Bridge Group NY LLC grew its stake in shares of Insmed by 16.9% during the third quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock valued at $11,011,000 after buying an additional 21,833 shares during the last quarter. Finally, Vestal Point Capital LP increased its holdings in shares of Insmed by 113.3% in the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after buying an additional 850,000 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on INSM shares. Stifel Nicolaus reduced their price target on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Wells Fargo & Company lifted their target price on shares of Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research report on Wednesday, February 19th. HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday, February 21st. Finally, Morgan Stanley upped their price objective on shares of Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

Insiders Place Their Bets

In other Insmed news, insider Martina M.D. Flammer sold 3,344 shares of Insmed stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total transaction of $220,403.04. Following the completion of the transaction, the insider now owns 102,766 shares in the company, valued at approximately $6,773,307.06. The trade was a 3.15 % 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, CFO Sara Bonstein sold 1,066 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $63.72, for a total value of $67,925.52. Following the completion of the sale, the chief financial officer now directly owns 118,863 shares in the company, valued at approximately $7,573,950.36. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 550,957 shares of company stock worth $42,992,528. 4.60% of the stock is currently owned by company insiders.

Insmed Price Performance

Shares of INSM stock opened at $79.38 on Tuesday. The business’s fifty day moving average is $77.64 and its 200 day moving average is $73.84. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The stock has a market cap of $14.37 billion, a price-to-earnings ratio of -14.20 and a beta of 1.28. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $84.91.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The business had revenue of $104.44 million during the quarter, compared to analysts’ expectations of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. Research analysts expect that Insmed Incorporated will post -4.56 EPS for the current fiscal year.

About Insmed

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.