M&T Bank Corp Acquires 166 Shares of Insmed Incorporated (NASDAQ:INSM)

M&T Bank Corp lifted its holdings in Insmed Incorporated (NASDAQ:INSM) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,146 shares of the biopharmaceutical company’s stock after purchasing an additional 166 shares during the period. M&T Bank Corp’s holdings in Insmed were worth $217,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INSM. Vestal Point Capital LP increased its stake in Insmed by 113.3% during the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after acquiring an additional 850,000 shares during the period. Victory Capital Management Inc. increased its stake in Insmed by 209.9% during the third quarter. Victory Capital Management Inc. now owns 455,959 shares of the biopharmaceutical company’s stock valued at $33,285,000 after acquiring an additional 308,819 shares during the period. Westfield Capital Management Co. LP bought a new position in Insmed during the third quarter valued at about $18,377,000. Eventide Asset Management LLC increased its stake in Insmed by 34.2% during the third quarter. Eventide Asset Management LLC now owns 906,395 shares of the biopharmaceutical company’s stock valued at $66,167,000 after acquiring an additional 231,210 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Insmed by 12.9% during the third quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock valued at $136,648,000 after acquiring an additional 214,130 shares during the period.

Insmed Stock Performance

INSM stock opened at $76.55 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The company has a 50 day moving average price of $76.17 and a 200 day moving average price of $73.71. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $84.91. The stock has a market capitalization of $13.86 billion, a PE ratio of -13.69 and a beta of 1.28.

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

Insider Buying and Selling at Insmed

In other Insmed news, insider Martina M.D. Flammer sold 3,344 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total transaction of $220,403.04. Following the completion of the sale, the insider now owns 102,766 shares in the company, valued at approximately $6,773,307.06. The trade was a 3.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the sale, the chief executive officer now owns 384,960 shares of the company’s stock, valued at $26,912,553.60. The trade was a 4.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 550,957 shares of company stock worth $42,859,028. Insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on INSM. Truist Financial boosted their price target on Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Guggenheim reaffirmed a “buy” rating and set a $101.00 price objective on shares of Insmed in a report on Tuesday, February 25th. Wells Fargo & Company lifted their price objective on Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Royal Bank of Canada initiated coverage on Insmed in a report on Tuesday, February 25th. They set an “outperform” rating and a $100.00 price objective on the stock. Finally, Stifel Nicolaus decreased their price objective on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 21st. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.33.

Insmed Company 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.