SG Americas Securities LLC Grows Stock Position in Insmed, Inc. $INSM

SG Americas Securities LLC raised its position in Insmed, Inc. (NASDAQ:INSM) by 105.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 137,149 shares of the biopharmaceutical company’s stock after acquiring an additional 70,387 shares during the period. SG Americas Securities LLC’s holdings in Insmed were worth $22,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. CIBC Private Wealth Group LLC grew its stake in shares of Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 53 shares during the period. CoreCap Advisors LLC bought a new stake in Insmed in the 4th quarter valued at about $27,000. GraniteShares Advisors LLC purchased a new stake in Insmed during the fourth quarter valued at about $30,000. Reflection Asset Management bought a new position in Insmed during the fourth quarter worth about $30,000. Finally, Raiffeisen Bank International AG bought a new position in Insmed during the fourth quarter worth about $32,000.

Insmed Stock Performance

Insmed stock opened at $103.44 on Thursday. Insmed, Inc. has a 1-year low of $90.39 and a 1-year high of $212.75. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $22.42 billion, a PE ratio of -17.99 and a beta of 0.79. The firm’s 50 day simple moving average is $114.74 and its 200 day simple moving average is $144.81.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. The firm had revenue of $305.96 million during the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business’s quarterly revenue was up 229.7% compared to the same quarter last year. During the same period last year, the firm earned ($1.42) EPS. As a group, analysts expect that Insmed, Inc. will post -2.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on INSM. Raymond James Financial began coverage on shares of Insmed in a research report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price target on the stock. Jefferies Financial Group started coverage on shares of Insmed in a report on Monday, March 16th. They issued a “buy” rating and a $228.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on shares of Insmed from $180.00 to $179.00 and set an “overweight” rating for the company in a research note on Monday, June 8th. Wells Fargo & Company lowered their target price on shares of Insmed from $177.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Insmed currently has an average rating of “Moderate Buy” and an average target price of $211.86.

Insiders Place Their Bets

In related news, COO Roger Adsett sold 2,370 shares of Insmed stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $242,379.90. Following the completion of the sale, the chief operating officer owned 98,603 shares of the company’s stock, valued at approximately $10,084,128.81. This trade represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 7,605 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $777,763.35. Following the transaction, the chief executive officer owned 265,432 shares of the company’s stock, valued at approximately $27,145,730.64. The trade was a 2.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 151,589 shares of company stock worth $23,075,723. 2.10% of the stock is currently owned by corporate insiders.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.