Simplify Asset Management Inc. Acquires New Holdings in Insmed Incorporated (NASDAQ:INSM)

Simplify Asset Management Inc. bought a new position in Insmed Incorporated (NASDAQ:INSM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,520 shares of the biopharmaceutical company’s stock, valued at approximately $1,417,000.

Several other large investors also recently made changes to their positions in INSM. KLP Kapitalforvaltning AS bought a new position in Insmed in the 4th quarter worth approximately $2,278,000. Hillsdale Investment Management Inc. boosted its position in Insmed by 0.5% during the 4th quarter. Hillsdale Investment Management Inc. now owns 57,000 shares of the biopharmaceutical company’s stock worth $3,935,000 after acquiring an additional 300 shares during the period. Sei Investments Co. grew its stake in shares of Insmed by 8.7% in the fourth quarter. Sei Investments Co. now owns 362,616 shares of the biopharmaceutical company’s stock worth $25,035,000 after purchasing an additional 29,019 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Insmed by 12.3% during the fourth quarter. American Century Companies Inc. now owns 812,780 shares of the biopharmaceutical company’s stock valued at $56,114,000 after purchasing an additional 89,097 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in shares of Insmed by 24.4% during the fourth quarter. Teacher Retirement System of Texas now owns 48,337 shares of the biopharmaceutical company’s stock valued at $3,337,000 after purchasing an additional 9,471 shares in the last quarter.

Insmed Trading Up 1.5 %

Shares of INSM opened at $79.92 on Friday. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $84.91. The stock has a market capitalization of $14.47 billion, a P/E ratio of -14.30 and a beta of 1.28. The business’s 50-day moving average price is $77.43 and its 200 day moving average price is $73.80.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on INSM shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 target price on shares of Insmed in a research report on Wednesday. Bank of America raised 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. Truist Financial upped their target price on Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Morgan Stanley lifted their price target on Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. upped their price objective on Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

Insider Buying and Selling at Insmed

In other news, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction on 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 transaction, the chief executive officer now owns 384,960 shares in the company, valued at approximately $26,885,606.40. The trade was a 4.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Martina M.D. Flammer sold 3,344 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total value of $220,403.04. Following the completion of the sale, the insider now directly owns 102,766 shares of the company’s stock, valued at approximately $6,773,307.06. This represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 550,957 shares of company stock valued at $42,992,528 in the last three months. 4.60% of the stock is currently owned by company insiders.

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.