Virtu Financial LLC Acquires New Position in Insmed, Inc. $INSM

Virtu Financial LLC purchased a new stake in Insmed, Inc. (NASDAQ:INSM) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 10,922 shares of the biopharmaceutical company’s stock, valued at approximately $1,901,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. CIBC Private Wealth Group LLC increased its holdings in 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 purchasing an additional 53 shares in the last quarter. CoreCap Advisors LLC bought a new position in shares of Insmed during the fourth quarter worth about $27,000. GraniteShares Advisors LLC acquired a new stake in Insmed in the 4th quarter valued at approximately $30,000. Raiffeisen Bank International AG bought a new stake in Insmed in the 4th quarter valued at approximately $32,000. Finally, RiverPark Advisors LLC acquired a new position in Insmed during the 3rd quarter worth approximately $38,000.

Insmed Trading Down 0.1%

Insmed stock opened at $95.70 on Friday. The stock has a 50-day simple moving average of $117.97 and a 200 day simple moving average of $147.47. The stock has a market capitalization of $20.74 billion, a P/E ratio of -16.64 and a beta of 0.79. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. Insmed, Inc. has a 52 week low of $90.39 and a 52 week high of $212.75.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The company had revenue of $305.96 million during the quarter, compared to analysts’ expectations of $300.81 million. During the same period last year, the firm posted ($1.42) earnings per share. The business’s revenue was up 229.7% on a year-over-year basis. Analysts expect that Insmed, Inc. will post -2.54 earnings per share for the current year.

Insider Transactions at Insmed

In other Insmed news, COO Roger Adsett sold 2,370 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $242,379.90. Following the transaction, the chief operating officer directly owned 98,603 shares of the company’s stock, valued at $10,084,128.81. This represents a 2.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 stock in a transaction on 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 in the company, valued at $27,145,730.64. The trade was a 2.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 149,783 shares of company stock worth $22,902,672. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

INSM has been the topic of a number of research reports. Mizuho set a $192.00 price objective on shares of Insmed in a research report on Tuesday. Guggenheim reduced their price objective on shares of Insmed from $230.00 to $226.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Morgan Stanley upgraded Insmed from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $166.00 to $212.00 in a report on Monday, March 30th. Bank of America upped their target price on Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Finally, Roth Mkm restated a “buy” rating on shares of Insmed in a research note on Monday, June 8th. One 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.86.

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.