KLP Kapitalforvaltning AS Purchases Shares of 33,000 Insmed Incorporated (NASDAQ:INSM)

KLP Kapitalforvaltning AS acquired a new stake in Insmed Incorporated (NASDAQ:INSM - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 33,000 shares of the biopharmaceutical company's stock, valued at approximately $2,278,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hillsdale Investment Management Inc. raised its holdings in shares of Insmed by 0.5% in the fourth quarter. Hillsdale Investment Management Inc. now owns 57,000 shares of the biopharmaceutical company's stock valued at $3,935,000 after buying an additional 300 shares during the last quarter. Sei Investments Co. increased its position in Insmed by 8.7% in the 4th quarter. Sei Investments Co. now owns 362,616 shares of the biopharmaceutical company's stock valued at $25,035,000 after acquiring an additional 29,019 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Insmed by 12.3% in the fourth quarter. American Century Companies Inc. now owns 812,780 shares of the biopharmaceutical company's stock worth $56,114,000 after acquiring an additional 89,097 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Insmed by 24.4% during the fourth quarter. Teacher Retirement System of Texas now owns 48,337 shares of the biopharmaceutical company's stock worth $3,337,000 after purchasing an additional 9,471 shares in the last quarter. Finally, Xponance Inc. grew its stake in shares of Insmed by 23.1% during the fourth quarter. Xponance Inc. now owns 12,689 shares of the biopharmaceutical company's stock valued at $876,000 after purchasing an additional 2,380 shares during the last quarter.

Remove Ads

Insider Buying and Selling at Insmed

In other news, insider Martina M.D. Flammer sold 6,172 shares of the business's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $63.64, for a total value of $392,786.08. Following the sale, the insider now directly owns 101,549 shares in the company, valued at $6,462,578.36. The trade was a 5.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William Lewis sold 18,750 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $69.84, for a total value of $1,309,500.00. Following the transaction, the chief executive officer now directly owns 384,960 shares of the company's stock, valued at $26,885,606.40. This represents a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 550,957 shares of company stock valued at $42,992,528. 4.60% of the stock is currently owned by corporate insiders.

Insmed Trading Down 5.6 %

Shares of INSM traded down $4.29 during trading hours on Tuesday, reaching $72.00. The stock had a trading volume of 2,723,547 shares, compared to its average volume of 2,234,377. The company has a market cap of $13.03 billion, a P/E ratio of -12.88 and a beta of 1.28. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $84.91. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The firm has a 50-day moving average of $78.16 and a 200 day moving average of $74.00.

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

Analyst Ratings Changes

Several research analysts recently weighed in on INSM shares. UBS Group boosted their price objective on shares of Insmed from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Bank of America boosted their target price on Insmed from $92.00 to $96.00 and gave the stock a "buy" rating in a research report on Thursday, March 20th. Guggenheim reiterated a "buy" rating and issued a $101.00 price target on shares of Insmed in a report on Tuesday, February 25th. Wells Fargo & Company boosted their price objective on Insmed from $85.00 to $107.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Finally, Stifel Nicolaus cut their target price on shares of Insmed from $97.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Insmed has an average rating of "Moderate Buy" and a consensus target price 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.