Avantax Advisory Services Inc. Increases Stock Holdings in Insmed Incorporated (NASDAQ:INSM)

Avantax Advisory Services Inc. lifted its holdings in Insmed Incorporated (NASDAQ:INSM) by 19.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,967 shares of the biopharmaceutical company’s stock after buying an additional 1,486 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Insmed were worth $619,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Insmed by 4.7% in the third quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock valued at $278,432,000 after buying an additional 172,664 shares in the last quarter. Principal Financial Group Inc. raised its holdings 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 worth $136,648,000 after purchasing an additional 214,130 shares during the last quarter. Vestal Point Capital LP raised its holdings 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 worth $116,800,000 after purchasing an additional 850,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Insmed by 7.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,546,607 shares of the biopharmaceutical company’s stock worth $106,778,000 after purchasing an additional 102,341 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Insmed by 2.6% during the third quarter. Wellington Management Group LLP now owns 962,459 shares of the biopharmaceutical company’s stock worth $70,260,000 after purchasing an additional 24,025 shares during the last quarter.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $79.92 on Friday. The company has a market cap of $14.47 billion, a P/E ratio of -14.30 and a beta of 1.28. 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 Incorporated has a 52 week low of $21.92 and a 52 week high of $84.91. The business has a fifty day simple moving average of $77.43 and a 200-day simple moving average of $73.80.

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 firm had revenue of $104.44 million for the quarter, compared to analysts’ expectations 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 forecast that Insmed Incorporated will post -4.56 EPS for the current year.

Insiders Place Their Bets

In other Insmed news, CEO William Lewis sold 2,978 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $63.36, for a total transaction of $188,686.08. Following the completion of the sale, the chief executive officer now directly owns 392,589 shares in the company, valued at $24,874,439.04. This represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Martina M.D. Flammer sold 3,344 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total value of $220,403.04. Following the sale, the insider now owns 102,766 shares of the company’s stock, valued at $6,773,307.06. This represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 550,957 shares of company stock worth $42,992,528 over the last three months. 4.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. UBS Group lifted their price objective on Insmed from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Truist Financial boosted their price target on Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Morgan Stanley boosted their price target on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Bank of America boosted their price target on Insmed from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus cut their price target on Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

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.