TD Asset Management Inc Decreases Stock Position in Insmed, Inc. $INSM

TD Asset Management Inc lessened its stake in Insmed, Inc. (NASDAQ:INSM) by 34.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 262,478 shares of the biopharmaceutical company’s stock after selling 135,778 shares during the quarter. TD Asset Management Inc’s holdings in Insmed were worth $45,682,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Artisan Partners Limited Partnership boosted its holdings in Insmed by 49.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after acquiring an additional 1,623,342 shares during the period. Atika Capital Management LLC purchased a new position in Insmed in the 3rd quarter worth approximately $13,681,000. iA Global Asset Management Inc. boosted its holdings in Insmed by 15,973.5% in the 4th quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company’s stock worth $4,644,000 after acquiring an additional 26,516 shares during the period. Nordea Investment Management AB purchased a new position in Insmed in the 4th quarter worth approximately $3,492,000. Finally, Essex Investment Management Co. LLC boosted its holdings in Insmed by 31.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 87,077 shares of the biopharmaceutical company’s stock worth $12,540,000 after acquiring an additional 20,732 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on INSM. Guggenheim cut their target price on Insmed from $230.00 to $226.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Wells Fargo & Company cut their target price on Insmed from $177.00 to $160.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Raymond James Financial began coverage on Insmed in a research report on Friday, April 10th. They issued an “outperform” rating and a $200.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Insmed in a research report on Tuesday, April 21st. Finally, Jefferies Financial Group began coverage on Insmed in a research report on Monday, March 16th. They issued a “buy” rating and a $228.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and a consensus price target of $210.50.

Insmed Stock Performance

INSM stock opened at $94.22 on Friday. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The firm has a market cap of $20.42 billion, a P/E ratio of -16.39 and a beta of 0.79. Insmed, Inc. has a 12-month low of $70.57 and a 12-month high of $212.75. The stock’s 50 day simple moving average is $130.45 and its 200 day simple moving average is $154.95.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.14. The business had revenue of $305.96 million for the quarter, compared to analyst estimates 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 was up 229.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.42) EPS. As a group, equities research analysts predict that Insmed, Inc. will post -2.56 EPS for the current year.

Insider Transactions at Insmed

In related news, insider Michael Alexander Smith sold 2,159 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $220,800.93. Following the sale, the insider directly owned 39,454 shares of the company’s stock, valued at approximately $4,034,960.58. This represents a 5.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Roger Adsett sold 2,370 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $242,379.90. Following the sale, the chief operating officer directly owned 98,603 shares in the company, valued at approximately $10,084,128.81. This represents a 2.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 160,482 shares of company stock valued at $24,438,193. 2.10% of the stock is currently owned by insiders.

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.