34,899 Shares in Insmed, Inc. $INSM Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new stake in Insmed, Inc. (NASDAQ:INSM) in the 3rd quarter, HoldingsChannel reports. The fund bought 34,899 shares of the biopharmaceutical company’s stock, valued at approximately $3,983,000.

Several other institutional investors also recently bought and sold shares of the company. Virginia Estate & Retirement Planning Advisors Inc. purchased a new position in Insmed in the third quarter worth $29,000. SBI Securities Co. Ltd. grew its stake in Insmed by 69.4% during the 3rd quarter. SBI Securities Co. Ltd. now owns 349 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 143 shares during the last quarter. CX Institutional acquired a new position in Insmed during the 3rd quarter valued at about $46,000. Harbor Investment Advisory LLC acquired a new position in Insmed during the 2nd quarter valued at about $52,000. Finally, Versant Capital Management Inc raised its stake in Insmed by 118.9% in the third quarter. Versant Capital Management Inc now owns 648 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 352 shares during the last quarter.

Insider Buying and Selling at Insmed

In related news, Director David R. Brennan sold 25,000 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $124.00, for a total transaction of $3,100,000.00. Following the completion of the transaction, the director owned 39,238 shares of the company’s stock, valued at $4,865,512. This trade represents a 38.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Roger Adsett sold 239,850 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $133.27, for a total transaction of $31,964,809.50. Following the transaction, the chief operating officer owned 98,744 shares of the company’s stock, valued at $13,159,612.88. This represents a 70.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.10% of the stock is owned by corporate insiders.

Insmed Stock Performance

Shares of Insmed stock traded up $5.64 on Friday, reaching $114.40. 3,379,748 shares of the stock were exchanged, compared to its average volume of 3,687,983. The business has a 50 day moving average price of $111.21 and a two-hundred day moving average price of $124.36. The firm has a market capitalization of $25.10 billion, a price-to-earnings ratio of -40.57 and a beta of 0.83. Insmed, Inc. has a twelve month low of $90.39 and a twelve month high of $212.75. The company has a quick ratio of 2.59, a current ratio of 2.86 and a debt-to-equity ratio of 0.77.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.08). Insmed had a negative return on equity of 96.38% and a negative net margin of 39.85%. The business had revenue of $524.43 million during the quarter, compared to analyst estimates of $500.36 million. During the same quarter last year, the company posted ($1.75) EPS. Insmed’s quarterly revenue was up 268.4% compared to the same quarter last year. Analysts anticipate that Insmed, Inc. will post -1.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on INSM. Roth Capital reissued a “buy” rating and issued a $198.00 price target (down from $212.00) on shares of Insmed in a report on Tuesday, September 15th. Raymond James Financial set a $173.00 price objective on shares of Insmed in a report on Tuesday, October 20th. UBS Group reaffirmed a “buy” rating on shares of Insmed in a research report on Thursday, October 8th. Guggenheim lowered their target price on shares of Insmed from $205.00 to $201.00 and set a “buy” rating for the company in a research note on Monday. Finally, Benchmark reissued a “buy” rating on shares of Insmed in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $196.52.

Insmed Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing treatments for serious diseases, including respiratory and rare conditions. The company is based in Bridgewater, New Jersey, and is led by President and Chief Executive Officer William H. Lewis Jr.

Its commercial products include ARIKAYCE, an inhaled amikacin treatment for certain adults with refractory Mycobacterium avium complex lung disease, and BRINSUPRI (brensocatib), an oral treatment for non-cystic fibrosis bronchiectasis.