BI Asset Management Fondsmaeglerselskab A S Takes $2.17 Million Position in Insmed Incorporated (NASDAQ:INSM)

BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,390 shares of the biopharmaceutical company's stock, valued at approximately $2,167,000.

Several other hedge funds have also made changes to their positions in the business. Steward Partners Investment Advisory LLC lifted its position in shares of Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 163 shares during the last quarter. V Square Quantitative Management LLC raised its stake in Insmed by 60.3% during the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company's stock worth $45,000 after acquiring an additional 248 shares in the last quarter. Spire Wealth Management purchased a new stake in Insmed in the fourth quarter valued at $47,000. Smartleaf Asset Management LLC boosted its stake in Insmed by 98.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company's stock valued at $57,000 after acquiring an additional 411 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in Insmed in the fourth quarter valued at $86,000.

Insmed Price Performance

Shares of Insmed stock traded up $0.73 on Friday, hitting $69.69. The company's stock had a trading volume of 13,610,728 shares, compared to its average volume of 2,298,330. The company has a market capitalization of $12.67 billion, a P/E ratio of -12.47 and a beta of 1.07. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $84.91. The firm has a fifty day moving average price of $74.61 and a 200-day moving average price of $73.55. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.15). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The business had revenue of $104.44 million during the quarter, compared to analyst estimates of $102.31 million. On average, equities research analysts expect that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Martina M.D. Flammer sold 33,055 shares of Insmed stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $80.90, for a total value of $2,674,149.50. Following the transaction, the insider now directly owns 138,053 shares of the company's stock, valued at $11,168,487.70. The trade was a 19.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William Lewis sold 6,830 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $70.16, for a total transaction of $479,192.80. Following the completion of the sale, the chief executive officer now directly owns 233,924 shares of the company's stock, valued at $16,412,107.84. The trade was a 2.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 471,797 shares of company stock valued at $37,621,239. Insiders own 3.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on INSM shares. Morgan Stanley increased their price objective on Insmed from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Bank of America increased their price target on shares of Insmed from $92.00 to $96.00 and gave the stock a "buy" rating in a research note on Thursday, March 20th. Truist Financial lifted their price objective on shares of Insmed from $105.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Wells Fargo & Company increased their target price on shares of Insmed from $85.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $100.00 price target on shares of Insmed in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Insmed currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.00.

Insmed Company Profile

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.