Empowered Funds LLC Acquires 12,775 Shares of Insmed, Inc. $INSM

Empowered Funds LLC grew its position in shares of Insmed, Inc. (NASDAQ:INSM) by 32.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,986 shares of the biopharmaceutical company’s stock after acquiring an additional 12,775 shares during the quarter. Empowered Funds LLC’s holdings in Insmed were worth $8,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. 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. EverSource Wealth Advisors LLC raised its stake in Insmed by 10.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $130,000 after acquiring an additional 69 shares during the period. Private Advisor Group LLC lifted its holdings in Insmed by 1.8% during the first quarter. Private Advisor Group LLC now owns 4,749 shares of the biopharmaceutical company’s stock valued at $777,000 after purchasing an additional 82 shares during the last quarter. Allworth Financial LP lifted its holdings in Insmed by 20.5% during the fourth quarter. Allworth Financial LP now owns 635 shares of the biopharmaceutical company’s stock valued at $111,000 after purchasing an additional 108 shares during the last quarter. Finally, Main Management ETF Advisors LLC boosted its position in Insmed by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 13,311 shares of the biopharmaceutical company’s stock worth $2,317,000 after purchasing an additional 136 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INSM. Mizuho set a $192.00 target price on shares of Insmed in a report on Tuesday, June 16th. Roth Capital reiterated a “buy” rating on shares of Insmed in a research report on Monday, June 8th. Truist Financial cut their price objective on shares of Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Guggenheim reaffirmed a “buy” rating and set a $207.00 target price on shares of Insmed in a report on Friday, July 10th. Finally, Royal Bank Of Canada reduced their price target on shares of Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Insmed has an average rating of “Buy” and a consensus target price of $209.35.

Insmed Trading Down 2.8%

Shares of INSM opened at $98.60 on Friday. Insmed, Inc. has a 1-year low of $90.39 and a 1-year high of $212.75. The company has a market capitalization of $21.37 billion, a P/E ratio of -17.15 and a beta of 0.78. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The firm’s 50 day simple moving average is $104.68 and its 200 day simple moving average is $131.02.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. The business had revenue of $305.96 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned ($1.42) EPS. Sell-side analysts forecast that Insmed, Inc. will post -2.43 earnings per share for the current fiscal year.

Insider Activity at Insmed

In other Insmed news, CEO William Lewis sold 21,398 shares of Insmed stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $103.32, for a total transaction of $2,210,841.36. Following the completion of the sale, the chief executive officer owned 258,917 shares of the company’s stock, valued at $26,751,304.44. The trade was a 7.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 2,370 shares of the company’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 $242,379.90. Following the completion of the transaction, the chief operating officer owned 98,603 shares of the company’s stock, valued at $10,084,128.81. The trade was a 2.35% 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. Insiders have sold a total of 54,590 shares of company stock valued at $5,793,738 over the last ninety days. 2.10% of the stock is currently owned by insiders.

Insmed 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.