SBI Okasan Asset Management Co.Ltd. Purchases Shares of 20,200 Insmed, Inc. $INSM

SBI Okasan Asset Management Co.Ltd. purchased a new stake in Insmed, Inc. (NASDAQ:INSM) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 20,200 shares of the biopharmaceutical company’s stock, valued at approximately $3,562,000. Insmed comprises about 0.2% of SBI Okasan Asset Management Co.Ltd.’s portfolio, making the stock its 25th largest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of INSM. CIBC Private Wealth Group LLC lifted its holdings in Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 53 shares during the last quarter. CoreCap Advisors LLC acquired a new stake in Insmed in the 4th quarter valued at about $27,000. SBI Securities Co. Ltd. lifted its holdings in Insmed by 404.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 166 shares during the last quarter. GraniteShares Advisors LLC acquired a new stake in Insmed in the 4th quarter valued at about $30,000. Finally, RiverPark Advisors LLC acquired a new stake in Insmed in the 3rd quarter valued at about $38,000.

Analyst Upgrades and Downgrades

INSM has been the subject of a number of research analyst reports. Mizuho upped their price target on shares of Insmed from $204.00 to $206.00 and gave the company an “outperform” rating in a report on Wednesday, March 25th. Truist Financial cut their price target on shares of Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Jefferies Financial Group initiated coverage on shares of Insmed in a report on Monday, March 16th. They issued a “buy” rating and a $228.00 price target for the company. Morgan Stanley raised shares of Insmed from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $166.00 to $212.00 in a report on Monday, March 30th. Finally, Wells Fargo & Company reduced their price objective on shares of Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $210.95.

Insider Activity

In other news, insider Michael Alexander Smith sold 19,638 shares of the company’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $150.98, for a total value of $2,964,945.24. Following the transaction, the insider owned 51,871 shares in the company, valued at $7,831,483.58. This represents a 27.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Adsett sold 88,060 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total value of $14,497,317.80. Following the completion of the transaction, the chief operating officer owned 106,810 shares in the company, valued at $17,584,130.30. This represents a 45.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 156,643 shares of company stock worth $24,513,766 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Insmed Price Performance

INSM stock opened at $108.37 on Friday. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. Insmed, Inc. has a one year low of $65.56 and a one year high of $212.75. The firm has a market capitalization of $23.49 billion, a PE ratio of -18.85 and a beta of 0.89. The firm has a 50-day moving average of $135.14 and a two-hundred day moving average of $158.47.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. The company had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The firm’s quarterly revenue was up 229.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.42) EPS. On average, analysts forecast that Insmed, Inc. will post -2.52 earnings per share for the current year.

About Insmed

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.