Skandinaviska Enskilda Banken AB publ Makes New $1.20 Million Investment in Insmed Incorporated (NASDAQ:INSM)

Skandinaviska Enskilda Banken AB publ bought a new stake in Insmed Incorporated (NASDAQ:INSM) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,892 shares of the biopharmaceutical company’s stock, valued at approximately $1,199,000.

A number of other institutional investors also recently modified their holdings of INSM. Capital International Investors bought a new position in shares of Insmed in the first quarter valued at approximately $43,973,000. Norges Bank bought a new position in shares of Insmed in the fourth quarter valued at approximately $45,029,000. Clearbridge Investments LLC bought a new position in shares of Insmed in the first quarter valued at approximately $25,242,000. Vestal Point Capital LP bought a new position in shares of Insmed in the fourth quarter valued at approximately $27,891,000. Finally, Fiera Capital Corp bought a new position in shares of Insmed in the second quarter valued at approximately $40,570,000.

Insmed Price Performance

Shares of INSM stock opened at $71.82 on Tuesday. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $80.53. The firm has a market capitalization of $10.67 billion, a price-to-earnings ratio of -13.73 and a beta of 1.11. The company has a quick ratio of 2.53, a current ratio of 2.71 and a debt-to-equity ratio of 25.05. The firm has a fifty day moving average of $74.57 and a 200-day moving average of $52.52.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The firm had revenue of $90.34 million for the quarter, compared to the consensus estimate of $87.95 million. During the same period last year, the business earned ($1.78) earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, equities research analysts forecast that Insmed Incorporated will post -5.42 earnings per share for the current year.

Insider Activity

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total value of $2,686,612.50. Following the completion of the transaction, the insider now owns 100,100 shares of the company’s stock, valued at approximately $7,157,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total value of $2,686,612.50. Following the sale, the insider now directly owns 100,100 shares of the company’s stock, valued at approximately $7,157,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the sale, the insider now directly owns 106,134 shares in the company, valued at $7,951,559.28. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock valued at $5,765,446 in the last quarter. Company insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group raised their price target on shares of Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a report on Monday, September 9th. Wells Fargo & Company raised their price target on shares of Insmed from $55.00 to $77.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. TD Cowen raised their price target on shares of Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Mizuho raised their price target on shares of Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a report on Friday, June 7th. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.40.

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.