Prudential Financial Inc. Grows Position in Insmed Incorporated (NASDAQ:INSM)

Prudential Financial Inc. raised its position in shares of Insmed Incorporated (NASDAQ:INSM) by 9.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,722 shares of the biopharmaceutical company’s stock after acquiring an additional 12,132 shares during the period. Prudential Financial Inc. owned approximately 0.08% of Insmed worth $10,130,000 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 recently modified their holdings of the company. Steward Partners Investment Advisory LLC grew its stake in shares of Insmed by 65.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 163 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Insmed by 60.3% in the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 248 shares during the last quarter. Spire Wealth Management bought a new position in shares of Insmed during the 4th quarter valued at approximately $47,000. Smartleaf Asset Management LLC lifted its position in Insmed by 98.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 411 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Insmed in the fourth quarter valued at $86,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Truist Financial increased their price target on Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 target price on shares of Insmed in a research report on Wednesday, March 19th. HC Wainwright restated a “buy” rating and issued a $90.00 price target on shares of Insmed in a report on Friday, February 21st. Stifel Nicolaus decreased their price objective on shares of Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, Wells Fargo & Company upped their target price on shares of Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Insmed has a consensus rating of “Moderate Buy” and an average price target of $94.00.

Insiders Place Their Bets

In related news, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $77.03, for a total transaction of $1,444,312.50. Following the transaction, the chief executive officer now directly owns 334,186 shares of the company’s stock, valued at $25,742,347.58. This represents a 5.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Martina M.D. Flammer sold 3,344 shares of the company’s stock in a transaction on 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 directly owns 102,766 shares in the company, valued at approximately $6,773,307.06. The trade was a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 550,957 shares of company stock valued at $42,992,528. 4.60% of the stock is currently owned by insiders.

Insmed Trading Up 0.4 %

Shares of NASDAQ INSM opened at $77.99 on Friday. The business has a fifty day moving average price of $78.18 and a 200 day moving average price of $73.98. 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 current ratio of 6.37 and a quick ratio of 5.99. The stock has a market capitalization of $14.12 billion, a P/E ratio of -13.95 and a beta of 1.28.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The firm had revenue of $104.44 million during the quarter, compared to the consensus estimate 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 fiscal year.

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.