NEOS Investment Management LLC Purchases Shares of 10,626 Insmed Incorporated (NASDAQ:INSM)

NEOS Investment Management LLC purchased a new stake in Insmed Incorporated (NASDAQ:INSM - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 10,626 shares of the biopharmaceutical company's stock, valued at approximately $734,000.

Several other institutional investors also recently made changes to their positions in the stock. Artisan Partners Limited Partnership increased its position in Insmed by 8.4% during the 4th quarter. Artisan Partners Limited Partnership now owns 3,126,339 shares of the biopharmaceutical company's stock worth $215,842,000 after purchasing an additional 242,242 shares in the last quarter. Banco BTG Pactual S.A. purchased a new stake in Insmed during the fourth quarter worth approximately $576,000. EFG Asset Management North America Corp. increased its position in shares of Insmed by 111.6% in the fourth quarter. EFG Asset Management North America Corp. now owns 107,625 shares of the biopharmaceutical company's stock worth $7,431,000 after acquiring an additional 56,758 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Insmed by 9.0% in the 4th quarter. Prudential Financial Inc. now owns 146,722 shares of the biopharmaceutical company's stock valued at $10,130,000 after acquiring an additional 12,132 shares during the period. Finally, Corebridge Financial Inc. lifted its holdings in shares of Insmed by 2.0% during the 4th quarter. Corebridge Financial Inc. now owns 85,719 shares of the biopharmaceutical company's stock valued at $5,918,000 after acquiring an additional 1,685 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on INSM. Royal Bank of Canada reiterated an "outperform" rating and issued a $100.00 price target on shares of Insmed in a report on Wednesday, March 19th. Stifel Nicolaus lowered their target price on Insmed from $97.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, February 21st. JPMorgan Chase & Co. raised their target price on Insmed from $83.00 to $92.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Truist Financial upped their price target on Insmed from $105.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Finally, Wells Fargo & Company boosted their target price on shares of Insmed from $85.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. One 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.com, Insmed presently has an average rating of "Moderate Buy" and a consensus target price of $94.00.

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Insmed Stock Down 5.7 %

NASDAQ:INSM traded down $4.15 during mid-day trading on Friday, reaching $69.18. The stock had a trading volume of 3,123,325 shares, compared to its average volume of 2,234,367. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The company has a market capitalization of $12.52 billion, a price-to-earnings ratio of -12.38 and a beta of 1.28. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $84.91. The stock's 50 day simple moving average is $77.78 and its two-hundred day simple moving average is $73.96.

Insmed (NASDAQ:INSM - Get Free Report) last issued its 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). The firm had revenue of $104.44 million during 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%. Equities analysts anticipate that Insmed Incorporated will post -4.56 EPS for the current year.

Insiders Place Their Bets

In other Insmed news, insider Martina M.D. Flammer sold 6,172 shares of Insmed stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $63.64, for a total value of $392,786.08. Following the completion of the transaction, 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 legal filing with the SEC, which is available at this link. Also, CEO William Lewis sold 18,750 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.03, for a total value of $1,519,312.50. Following the transaction, the chief executive officer now directly owns 334,186 shares of the company's stock, valued at $27,079,091.58. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 532,207 shares of company stock valued at $41,683,028 over the last 90 days. 4.60% of the stock is owned by company insiders.

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.