Sei Investments Co. Acquires 29,019 Shares of Insmed Incorporated (NASDAQ:INSM)

Sei Investments Co. raised its holdings in Insmed Incorporated (NASDAQ:INSM) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 362,616 shares of the biopharmaceutical company’s stock after buying an additional 29,019 shares during the quarter. Sei Investments Co. owned about 0.20% of Insmed worth $25,035,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its stake in Insmed by 65.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 163 shares during the period. V Square Quantitative Management LLC lifted its position in shares of Insmed by 60.3% in the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 248 shares during the period. Spire Wealth Management purchased a new stake in shares of Insmed in the 4th quarter worth about $47,000. Smartleaf Asset Management LLC boosted its stake in shares of Insmed by 98.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 411 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of Insmed during the fourth quarter valued at about $86,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Bank of America raised their target price on Insmed from $92.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, March 20th. Guggenheim reissued a “buy” rating and set a $101.00 price objective on shares of Insmed in a research report on Tuesday, February 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Insmed in a research report on Wednesday, March 19th. Stifel Nicolaus lowered their price target on shares of Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Finally, Truist Financial upped their price objective on shares of Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $94.00.

Insider Transactions at Insmed

In other news, CFO Sara Bonstein sold 3,470 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $65.70, for a total value of $227,979.00. Following the transaction, the chief financial officer now owns 114,736 shares in the company, valued at $7,538,155.20. This represents a 2.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $77.03, for a total transaction of $1,444,312.50. Following the sale, the chief executive officer now owns 334,186 shares of the company’s stock, valued at $25,742,347.58. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 550,957 shares of company stock worth $42,992,528 in the last ninety days. Insiders own 4.60% of the company’s stock.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $76.57 on Thursday. The business has a 50-day simple moving average of $77.97 and a two-hundred day simple moving average of $73.91. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The firm has a market cap of $13.86 billion, a price-to-earnings ratio of -13.70 and a beta of 1.28. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $84.91.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data 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). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The company had revenue of $104.44 million for the quarter, compared to the consensus estimate of $102.31 million. On average, analysts expect that Insmed Incorporated will post -4.56 earnings per share for the current year.

Insmed Company Profile

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.