Norges Bank Makes New $126.61 Million Investment in Insmed Incorporated (NASDAQ:INSM)

Norges Bank acquired a new stake in Insmed Incorporated (NASDAQ:INSM) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,833,810 shares of the biopharmaceutical company’s stock, valued at approximately $126,606,000.

Other institutional investors also recently modified their holdings of the company. Jennison Associates LLC increased its stake in Insmed by 0.6% in the fourth quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock valued at $53,424,000 after purchasing an additional 4,560 shares in the last quarter. Capital CS Group LLC bought a new stake in Insmed in the 4th quarter valued at about $586,000. Orion Portfolio Solutions LLC raised its stake in Insmed by 48.5% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock worth $2,050,000 after buying an additional 9,170 shares during the period. Tidal Investments LLC boosted its holdings in Insmed by 447.0% in the third quarter. Tidal Investments LLC now owns 24,102 shares of the biopharmaceutical company’s stock worth $1,759,000 after acquiring an additional 19,696 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Insmed by 237.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 59,600 shares of the biopharmaceutical company’s stock valued at $4,115,000 after acquiring an additional 41,918 shares during the period.

Insmed Trading Down 2.2 %

Shares of Insmed stock opened at $76.29 on Tuesday. The firm has a market cap of $13.81 billion, a PE ratio of -13.65 and a beta of 1.28. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $84.91. 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 stock has a fifty day moving average price of $78.26 and a 200-day moving average price of $74.02.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data 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 analysts’ expectations of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. Equities research analysts anticipate that Insmed Incorporated will post -4.56 EPS for the current year.

Insider Transactions at Insmed

In other news, insider Orlov S. Nicole Schaeffer sold 91,140 shares of Insmed stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $80.00, for a total value of $7,291,200.00. Following the completion of the transaction, the insider now owns 97,083 shares in the company, valued at $7,766,640. This trade represents a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Martina M.D. Flammer sold 3,344 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 102,766 shares in the company, valued at $6,773,307.06. The trade was a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 550,957 shares of company stock worth $42,992,528 in the last quarter. Insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

INSM has been the topic of a number of research reports. Guggenheim reaffirmed a “buy” rating and set a $101.00 target price on shares of Insmed in a research report on Tuesday, February 25th. Stifel Nicolaus lowered their price objective on shares of Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 21st. UBS Group lifted their price objective on shares of Insmed from $105.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Morgan Stanley upped their target price on shares of Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company raised their price target on shares of Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research report 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $94.00.

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.