Envestnet Portfolio Solutions Inc. Increases Stock Holdings in Insmed Incorporated (NASDAQ:INSM)

Envestnet Portfolio Solutions Inc. increased its position in Insmed Incorporated (NASDAQ:INSM) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,314 shares of the biopharmaceutical company’s stock after acquiring an additional 225 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Insmed were worth $436,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vestal Point Capital LP boosted its holdings in Insmed by 113.3% in the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after purchasing an additional 850,000 shares during the period. Eventide Asset Management LLC raised its position in shares of Insmed by 34.2% in the third quarter. Eventide Asset Management LLC now owns 906,395 shares of the biopharmaceutical company’s stock worth $66,167,000 after buying an additional 231,210 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Insmed by 12.9% during the third quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock valued at $136,648,000 after buying an additional 214,130 shares during the period. TimesSquare Capital Management LLC grew its position in Insmed by 41.4% during the fourth quarter. TimesSquare Capital Management LLC now owns 684,384 shares of the biopharmaceutical company’s stock worth $47,250,000 after buying an additional 200,515 shares in the last quarter. Finally, abrdn plc increased its stake in Insmed by 159.5% in the 4th quarter. abrdn plc now owns 289,653 shares of the biopharmaceutical company’s stock worth $19,998,000 after acquiring an additional 178,041 shares during the last quarter.

Insider Buying and Selling at Insmed

In other Insmed news, insider Martina M.D. Flammer sold 33,055 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $80.90, for a total value of $2,674,149.50. Following the completion of the transaction, the insider now directly owns 138,053 shares in the company, valued at approximately $11,168,487.70. This represents a 19.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $77.03, for a total transaction of $1,444,312.50. Following the completion of the sale, the chief executive officer now directly owns 334,186 shares of the company’s stock, valued at approximately $25,742,347.58. This represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 550,957 shares of company stock valued at $42,992,528 in the last 90 days. Insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

INSM has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price target on shares of Insmed in a research note on Wednesday, March 19th. Truist Financial increased their price target on shares of Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, February 21st. UBS Group lifted their price objective on shares of Insmed from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Insmed in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Insmed has an average rating of “Moderate Buy” and a consensus price target of $94.00.

Insmed Stock Down 2.5 %

Shares of Insmed stock opened at $76.57 on Thursday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $84.91. The company’s 50 day moving average price is $77.97 and its 200-day moving average price is $73.91. The stock has a market capitalization of $13.86 billion, a price-to-earnings ratio of -13.70 and a beta of 1.28.

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