Legal & General Group Plc Sells 746 Shares of Insmed Incorporated (NASDAQ:INSM)

Legal & General Group Plc decreased its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 0.4% during the fourth quarter, HoldingsChannel reports. The fund owned 176,014 shares of the biopharmaceutical company’s stock after selling 746 shares during the quarter. Legal & General Group Plc’s holdings in Insmed were worth $12,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of INSM. MML Investors Services LLC grew its position in shares of Insmed by 36.2% in the third quarter. MML Investors Services LLC now owns 22,201 shares of the biopharmaceutical company’s stock valued at $1,621,000 after purchasing an additional 5,897 shares in the last quarter. M&T Bank Corp bought a new position in Insmed in the 3rd quarter worth about $218,000. Sanctuary Advisors LLC purchased a new position in Insmed during the 3rd quarter valued at about $248,000. Tidal Investments LLC increased its position in shares of Insmed by 447.0% during the third quarter. Tidal Investments LLC now owns 24,102 shares of the biopharmaceutical company’s stock valued at $1,759,000 after buying an additional 19,696 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Insmed by 12.9% in the third quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock worth $136,648,000 after buying an additional 214,130 shares in the last quarter.

Insmed Price Performance

Shares of Insmed stock opened at $70.20 on Thursday. 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 Incorporated has a 52-week low of $21.92 and a 52-week high of $84.91. The company has a fifty day moving average of $75.60 and a 200-day moving average of $73.60. The stock has a market capitalization of $12.76 billion, a price-to-earnings ratio of -12.56 and a beta of 1.07.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.15). The business had revenue of $104.44 million for the quarter, compared to analysts’ expectations of $102.31 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. Equities research analysts expect that Insmed Incorporated will post -4.56 EPS for the current year.

Insider Activity at Insmed

In other news, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 379,534 shares in the company, valued at approximately $29,580,879.96. This trade represents a 4.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $80.00, for a total transaction of $7,291,200.00. Following the transaction, the insider now directly owns 97,083 shares in the company, valued at approximately $7,766,640. The trade was a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 471,797 shares of company stock worth $37,621,239 in the last ninety days. 3.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

INSM has been the subject of several recent analyst reports. Bank of America boosted their price objective on shares of Insmed from $92.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, March 20th. Stifel Nicolaus decreased their price target on shares of Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Guggenheim reissued a “buy” rating and set a $101.00 price objective on shares of Insmed in a research note on Tuesday, February 25th. Truist Financial upped their target price on Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Insmed in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

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.