KLP Kapitalforvaltning AS Buys New Position in Insmed Incorporated (NASDAQ:INSM)

KLP Kapitalforvaltning AS purchased a new position in shares of Insmed Incorporated (NASDAQ:INSM) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 33,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,278,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INSM. Abel Hall LLC grew its position in shares of Insmed by 4.7% during the fourth quarter. Abel Hall LLC now owns 3,333 shares of the biopharmaceutical company’s stock worth $230,000 after acquiring an additional 151 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 163 shares during the period. M&T Bank Corp grew its position in Insmed by 5.6% during the 4th quarter. M&T Bank Corp now owns 3,146 shares of the biopharmaceutical company’s stock worth $217,000 after purchasing an additional 166 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Insmed by 5.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,533 shares of the biopharmaceutical company’s stock valued at $244,000 after purchasing an additional 183 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Insmed by 3.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,401 shares of the biopharmaceutical company’s stock valued at $446,000 after buying an additional 186 shares during the last quarter.

Insmed Stock Performance

Shares of INSM opened at $77.69 on Friday. The company has a market capitalization of $14.06 billion, a PE ratio of -13.90 and a beta of 1.28. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $84.91. The company has a 50-day simple moving average of $78.07 and a 200-day simple moving average of $73.93. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The company had revenue of $104.44 million for the quarter, compared to analyst estimates 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 predict that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on INSM shares. HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Insmed in a report on Friday, February 21st. Bank of America lifted their target price on Insmed from $92.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, March 20th. Wells Fargo & Company upped their price target on Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. UBS Group increased their price target on Insmed from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

Insider Transactions at Insmed

In other Insmed news, insider Martina M.D. Flammer sold 6,172 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $63.64, for a total value of $392,786.08. Following the transaction, the insider now directly owns 101,549 shares in the company, valued at approximately $6,462,578.36. This represents a 5.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were 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 in the company, valued at $25,742,347.58. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 550,957 shares of company stock valued at $42,992,528 in the last 90 days. 4.60% of the stock is currently owned by insiders.

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.