Novo Holdings A S Sells 480,000 Shares of Insmed, Inc. $INSM

Novo Holdings A S trimmed its position in shares of Insmed, Inc. (NASDAQ:INSM) by 70.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 200,000 shares of the biopharmaceutical company’s stock after selling 480,000 shares during the quarter. Insmed makes up approximately 1.9% of Novo Holdings A S’s holdings, making the stock its 19th largest position. Novo Holdings A S owned 0.09% of Insmed worth $28,802,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stone House Investment Management LLC bought a new stake in shares of Insmed during the third quarter valued at approximately $29,000. SBI Securities Co. Ltd. raised its holdings in Insmed by 404.9% in the third quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 166 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Insmed by 59.6% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 217 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 81 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Insmed by 169.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 151 shares during the period. Finally, RiverPark Advisors LLC purchased a new position in Insmed during the third quarter valued at $38,000.

Insider Activity

In related news, CFO Sara Bonstein sold 748 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $156.34, for a total transaction of $116,942.32. Following the completion of the sale, the chief financial officer owned 79,758 shares of the company’s stock, valued at $12,469,365.72. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Lewis sold 10,699 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $146.03, for a total transaction of $1,562,374.97. Following the completion of the transaction, the chief executive officer owned 301,185 shares of the company’s stock, valued at approximately $43,982,045.55. The trade was a 3.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 189,651 shares of company stock worth $31,784,545. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on INSM shares. Truist Financial set a $205.00 target price on shares of Insmed in a research report on Monday, January 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research note on Thursday, January 22nd. Barclays assumed coverage on shares of Insmed in a report on Tuesday, January 27th. They issued an “overweight” rating and a $231.00 price objective on the stock. UBS Group decreased their target price on shares of Insmed from $223.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, January 6th. Finally, Stifel Nicolaus set a $205.00 target price on shares of Insmed in a report on Thursday, February 19th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $205.57.

Insmed Price Performance

INSM opened at $144.60 on Tuesday. The firm has a market cap of $31.17 billion, a PE ratio of -22.56 and a beta of 1.13. The stock has a 50-day moving average price of $154.57 and a 200-day moving average price of $166.22. 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 0.76, a current ratio of 3.83 and a quick ratio of 3.54.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.54) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.47). The firm had revenue of $263.84 million for the quarter, compared to analysts’ expectations of $263.97 million. Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The business’s revenue for the quarter was up 152.6% compared to the same quarter last year. During the same period last year, the company posted ($1.32) earnings per share. Sell-side analysts predict that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

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.