MetLife Investment Management LLC Raises Stock Holdings in Insmed Incorporated (NASDAQ:INSM)

MetLife Investment Management LLC lifted its stake in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 15.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,429 shares of the biopharmaceutical company's stock after acquiring an additional 13,807 shares during the period. MetLife Investment Management LLC owned 0.06% of Insmed worth $7,141,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake in shares of Insmed by 0.6% during the 4th quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company's stock worth $53,424,000 after purchasing an additional 4,560 shares during the last quarter. Capital CS Group LLC acquired a new stake in Insmed during the fourth quarter worth approximately $586,000. Tidal Investments LLC grew its stake in Insmed by 447.0% in the 3rd quarter. Tidal Investments LLC now owns 24,102 shares of the biopharmaceutical company's stock worth $1,759,000 after acquiring an additional 19,696 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Insmed by 237.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 59,600 shares of the biopharmaceutical company's stock valued at $4,115,000 after acquiring an additional 41,918 shares during the last quarter. Finally, abrdn plc lifted its stake in shares of Insmed by 159.5% during the 4th quarter. abrdn plc now owns 289,653 shares of the biopharmaceutical company's stock worth $19,998,000 after purchasing an additional 178,041 shares during the period.

Analyst Upgrades and Downgrades

INSM has been the subject of several recent analyst reports. HC Wainwright restated a "buy" rating and issued a $90.00 price target on shares of Insmed in a report on Tuesday. Wells Fargo & Company boosted their target price on shares of Insmed from $85.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $100.00 price target on shares of Insmed in a research note on Wednesday, March 19th. Guggenheim reissued a "buy" rating and set a $101.00 price objective on shares of Insmed in a research note on Tuesday, February 25th. Finally, Morgan Stanley increased their target price on Insmed from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.00.

Insmed Stock Performance

Shares of NASDAQ:INSM opened at $71.24 on Wednesday. The company has a market cap of $12.95 billion, a P/E ratio of -12.74 and a beta of 1.07. Insmed Incorporated has a one year low of $21.92 and a one year high of $84.91. The business's 50-day simple moving average is $74.99 and its 200 day simple moving average is $73.58. 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 (NASDAQ:INSM - Get Free Report) last posted its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.15). The firm had revenue of $104.44 million for the quarter, compared to analyst estimates of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. On average, sell-side analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO William Lewis sold 18,750 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $77.94, for a total value of $1,461,375.00. Following the transaction, the chief executive officer now owns 379,534 shares in the company, valued at approximately $29,580,879.96. The trade was a 4.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Martina M.D. Flammer sold 33,055 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 138,053 shares of the company's stock, valued at approximately $11,168,487.70. This trade represents a 19.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 471,797 shares of company stock worth $37,621,239 in the last quarter. 3.00% of the stock is owned by corporate insiders.

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.

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