Summit Investment Advisors Inc. Increases Stock Position in Insmed Incorporated (NASDAQ:INSM)

Summit Investment Advisors Inc. raised its position in Insmed Incorporated (NASDAQ:INSM) by 10.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,551 shares of the biopharmaceutical company’s stock after acquiring an additional 1,630 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Insmed were worth $1,212,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of INSM. Vanguard Group Inc. increased its holdings in Insmed by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock valued at $1,257,838,000 after purchasing an additional 1,075,796 shares during the period. Geode Capital Management LLC increased its stake in shares of Insmed by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 4,087,143 shares of the biopharmaceutical company’s stock valued at $282,243,000 after buying an additional 273,759 shares during the period. Artisan Partners Limited Partnership raised its holdings in shares of Insmed by 8.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 3,126,339 shares of the biopharmaceutical company’s stock valued at $215,842,000 after acquiring an additional 242,242 shares in the last quarter. FIL Ltd lifted its stake in Insmed by 8.1% in the fourth quarter. FIL Ltd now owns 2,638,160 shares of the biopharmaceutical company’s stock worth $182,139,000 after acquiring an additional 198,412 shares during the period. Finally, William Blair Investment Management LLC boosted its holdings in Insmed by 0.5% in the fourth quarter. William Blair Investment Management LLC now owns 2,433,443 shares of the biopharmaceutical company’s stock valued at $168,005,000 after acquiring an additional 12,535 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have commented on INSM shares. Bank of America upped their price objective on shares of Insmed from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, March 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Insmed in a research report on Wednesday, March 19th. HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Insmed in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their price target on Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, Stifel Nicolaus decreased their price objective on Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $94.00.

Insmed Trading Down 1.2 %

NASDAQ:INSM opened at $70.20 on Thursday. The stock has a market cap of $12.76 billion, a price-to-earnings ratio of -12.56 and a beta of 1.07. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The company’s 50 day moving average price is $75.60 and its 200-day moving average price is $73.60. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $84.91.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The business had revenue of $104.44 million during the quarter, compared to the consensus estimate of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. On average, equities research analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Insmed news, insider Martina M.D. Flammer sold 33,055 shares of Insmed stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $80.90, for a total value of $2,674,149.50. Following the completion of the sale, the insider now owns 138,053 shares of the company’s stock, valued at approximately $11,168,487.70. The trade was a 19.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William Lewis sold 6,830 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $70.16, for a total value of $479,192.80. Following the transaction, the chief executive officer now directly owns 233,924 shares in the company, valued at $16,412,107.84. The trade was a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 471,797 shares of company stock valued at $37,621,239. 3.00% of the stock is owned by insiders.

About Insmed

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.