Sofinnova Investments Inc. Acquires 127,747 Shares of Insmed Incorporated (NASDAQ:INSM)

Sofinnova Investments Inc. boosted its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 127.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 227,747 shares of the biopharmaceutical company’s stock after purchasing an additional 127,747 shares during the period. Sofinnova Investments Inc. owned about 0.15% of Insmed worth $15,259,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its position in Insmed by 8.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock valued at $119,000 after acquiring an additional 135 shares during the period. CWM LLC lifted its holdings in Insmed by 11.0% during the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 155 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Insmed by 83.4% in the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 287 shares in the last quarter. Beacon Financial Advisory LLC grew its stake in Insmed by 4.6% during the second quarter. Beacon Financial Advisory LLC now owns 13,825 shares of the biopharmaceutical company’s stock worth $926,000 after buying an additional 605 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in Insmed by 1.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 38,232 shares of the biopharmaceutical company’s stock worth $1,037,000 after buying an additional 610 shares during the last quarter.

Insmed Stock Down 1.9 %

Shares of NASDAQ INSM opened at $73.23 on Tuesday. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53. The company has a debt-to-equity ratio of 25.05, a quick ratio of 2.53 and a current ratio of 2.71. The stock has a market cap of $10.88 billion, a P/E ratio of -14.00 and a beta of 1.11. The firm has a 50 day moving average price of $74.72 and a 200 day moving average price of $50.92.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The firm had revenue of $90.34 million for the quarter, compared to the consensus estimate of $87.95 million. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period last year, the business earned ($1.78) earnings per share. Analysts expect that Insmed Incorporated will post -5.42 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on INSM. JPMorgan Chase & Co. boosted their target price on Insmed from $55.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. StockNews.com lowered Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Wells Fargo & Company raised their target price on Insmed from $55.00 to $77.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. Finally, Truist Financial decreased their price objective on Insmed from $88.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Insmed has an average rating of “Moderate Buy” and an average target price of $79.19.

Insider Buying and Selling at Insmed

In other news, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the sale, the insider now owns 106,134 shares of the company’s stock, valued at $7,951,559.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Martina M.D. Flammer sold 13,436 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the sale, the insider now owns 106,134 shares of the company’s stock, valued at $7,951,559.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the sale, the insider now owns 67,856 shares in the company, valued at $5,045,093.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,882 shares of company stock valued at $5,765,446. Company insiders own 4.60% of the company’s stock.

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.