PNC Financial Services Group Inc. Sells 1,244 Shares of Insmed, Inc. (NASDAQ:INSM)

PNC Financial Services Group Inc. lowered its holdings in Insmed, Inc. (NASDAQ:INSM) by 10.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,643 shares of the biopharmaceutical company’s stock after selling 1,244 shares during the period. PNC Financial Services Group Inc.’s holdings in Insmed were worth $812,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in INSM. Darwin Global Management Ltd. lifted its stake in Insmed by 23.5% in the fourth quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock valued at $894,796,000 after acquiring an additional 2,463,261 shares during the last quarter. Brown Advisory Inc. bought a new position in Insmed during the fourth quarter worth about $45,773,000. Adage Capital Partners GP L.L.C. increased its position in Insmed by 59.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,647,562 shares of the biopharmaceutical company’s stock worth $113,748,000 after acquiring an additional 615,000 shares during the period. Capital International Investors increased its holdings in Insmed by 9.1% in the 4th quarter. Capital International Investors now owns 7,116,997 shares of the biopharmaceutical company’s stock valued at $491,357,000 after buying an additional 593,206 shares during the period. Finally, Duquesne Family Office LLC increased its holdings in Insmed by 2,867.4% in the 4th quarter. Duquesne Family Office LLC now owns 593,470 shares of the biopharmaceutical company’s stock valued at $40,973,000 after buying an additional 573,470 shares during the period.

Insmed Stock Up 3.0%

NASDAQ:INSM opened at $112.89 on Tuesday. The firm’s 50 day simple moving average is $99.47 and its 200 day simple moving average is $82.64. The company has a debt-to-equity ratio of 0.45, a current ratio of 6.68 and a quick ratio of 6.33. Insmed, Inc. has a one year low of $60.40 and a one year high of $114.03. The company has a market cap of $23.86 billion, a PE ratio of -19.77 and a beta of 0.95.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.30) by ($0.40). The firm had revenue of $107.42 million during the quarter, compared to analyst estimates of $104.06 million. Insmed had a negative return on equity of 195.37% and a negative net margin of 259.82%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the firm posted ($1.94) EPS. On average, research analysts anticipate that Insmed, Inc. will post -4.56 earnings per share for the current year.

Insider Activity

In other news, insider Martina M.D. Flammer sold 9,925 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $65.47, for a total value of $649,789.75. Following the transaction, the insider owned 86,596 shares in the company, valued at approximately $5,669,440.12. The trade was a 10.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Lewis sold 129,805 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $100.39, for a total transaction of $13,031,123.95. Following the completion of the transaction, the chief executive officer owned 233,924 shares in the company, valued at $23,483,630.36. This trade represents a 35.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 548,159 shares of company stock worth $51,140,221 over the last quarter. Company insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on INSM shares. Leerink Partners lifted their price target on shares of Insmed from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, June 10th. Mizuho lifted their price target on shares of Insmed from $96.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, June 11th. Citigroup raised shares of Insmed to a “buy” rating in a report on Tuesday, June 10th. The Goldman Sachs Group lifted their price target on shares of Insmed from $100.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. Finally, UBS Group reaffirmed a “buy” rating and set a $133.00 price target (up from $124.00) on shares of Insmed in a report on Friday. Sixteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $112.71.

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.