Norges Bank Purchases New Stake in Insmed Incorporated (NASDAQ:INSM)

Norges Bank bought a new position in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,833,810 shares of the biopharmaceutical company's stock, valued at approximately $126,606,000. Norges Bank owned approximately 1.03% of Insmed as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Insmed by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company's stock worth $1,257,838,000 after buying an additional 1,075,796 shares in the last quarter. Geode Capital Management LLC grew its stake in Insmed by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company's stock valued at $278,432,000 after purchasing an additional 172,664 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Insmed by 8.4% in 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 during the last quarter. William Blair Investment Management LLC raised its position in shares of Insmed by 0.5% during the 4th quarter. William Blair Investment Management LLC now owns 2,433,443 shares of the biopharmaceutical company's stock valued at $168,005,000 after acquiring an additional 12,535 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Insmed by 12.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company's stock valued at $136,648,000 after purchasing an additional 214,130 shares during the period.

Wall Street Analyst Weigh In

INSM has been the subject of several analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $90.00 target price on shares of Insmed in a report on Friday, February 21st. Royal Bank of Canada reissued an "outperform" rating and issued a $100.00 price target on shares of Insmed in a report on Wednesday, March 19th. Guggenheim restated a "buy" rating and set a $101.00 price target on shares of Insmed in a research note on Tuesday, February 25th. 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. Finally, JPMorgan Chase & Co. upped their target price on shares of Insmed from $83.00 to $92.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, Insmed presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.00.

Insmed Price Performance

Shares of 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 2,236,652. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $84.91. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The business's 50 day moving average price is $77.78 and its 200 day moving average price is $73.97. The company has a market cap of $12.52 billion, a P/E ratio of -12.38 and a beta of 1.28.

Insmed (NASDAQ:INSM - Get Free Report) last issued its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share 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 firm had revenue of $104.44 million during the quarter, compared to analysts' expectations of $102.31 million. Research analysts expect that Insmed Incorporated will post -4.56 EPS for the current fiscal year.

Insider Activity

In other news, CEO William Lewis sold 18,750 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $77.03, for a total value of $1,444,312.50. Following the sale, the chief executive officer now directly owns 334,186 shares in the company, valued at approximately $25,742,347.58. This trade represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sara Bonstein sold 18,322 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $80.31, for a total transaction of $1,471,439.82. Following the completion of the transaction, the chief financial officer now owns 118,863 shares in the company, valued at $9,545,887.53. This represents a 13.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 532,207 shares of company stock worth $41,683,028 in the last ninety days. Company insiders own 4.60% of the company's stock.

Insmed 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.