Pictet Asset Management Holding SA Has $135.30 Million Stock Holdings in Insmed Incorporated (NASDAQ:INSM)

Pictet Asset Management Holding SA raised its stake in Insmed Incorporated (NASDAQ:INSM - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,959,718 shares of the biopharmaceutical company's stock after acquiring an additional 96,377 shares during the period. Pictet Asset Management Holding SA owned 1.10% of Insmed worth $135,299,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Cerity Partners LLC boosted its position in Insmed by 513.6% during the 3rd quarter. Cerity Partners LLC now owns 21,348 shares of the biopharmaceutical company's stock valued at $1,558,000 after purchasing an additional 17,869 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Insmed by 1.8% in the third quarter. The Manufacturers Life Insurance Company now owns 288,073 shares of the biopharmaceutical company's stock valued at $21,029,000 after buying an additional 5,062 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Insmed during the third quarter valued at $133,000. Blueshift Asset Management LLC bought a new position in shares of Insmed during the third quarter worth about $365,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Insmed by 7.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,721 shares of the biopharmaceutical company's stock worth $2,681,000 after acquiring an additional 2,485 shares during the period.

Insiders Place Their Bets

In other Insmed news, CEO William Lewis sold 18,750 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $69.84, for a total transaction of $1,309,500.00. Following the completion of the sale, the chief executive officer now directly owns 384,960 shares in the company, valued at approximately $26,885,606.40. This trade represents a 4.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Martina M.D. Flammer sold 3,344 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total value of $220,403.04. Following the completion of the transaction, the insider now owns 102,766 shares in the company, valued at $6,773,307.06. This represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 550,957 shares of company stock worth $42,992,528. Corporate insiders own 4.60% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $100.00 target price on shares of Insmed in a research note on Wednesday, March 19th. HC Wainwright reiterated a "buy" rating and set a $90.00 price objective on shares of Insmed in a research report on Friday, February 21st. Bank of America boosted their price target on Insmed from $92.00 to $96.00 and gave the stock a "buy" rating in a research report on Thursday, March 20th. Wells Fargo & Company raised their price target on Insmed from $85.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Finally, Morgan Stanley upped their price objective on shares of Insmed from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $94.00.

Insmed Trading Up 0.5 %

Shares of NASDAQ:INSM traded up $0.37 during midday trading on Wednesday, reaching $72.37. The company had a trading volume of 942,803 shares, compared to its average volume of 2,229,476. The company has a fifty day simple moving average of $78.16 and a two-hundred day simple moving average of $74.00. The firm has a market cap of $13.10 billion, a price-to-earnings ratio of -12.95 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 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 announced 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). 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 analyst estimates of $102.31 million. Research analysts predict that Insmed Incorporated will post -4.56 earnings per share for the current year.

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.