Corebridge Financial Inc. Acquires 1,685 Shares of Insmed Incorporated (NASDAQ:INSM)

Corebridge Financial Inc. raised its holdings in Insmed Incorporated (NASDAQ:INSM) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,719 shares of the biopharmaceutical company’s stock after acquiring an additional 1,685 shares during the period. Corebridge Financial Inc.’s holdings in Insmed were worth $5,918,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of INSM. Steward Partners Investment Advisory LLC grew its holdings in shares of Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 163 shares during the last quarter. V Square Quantitative Management LLC grew its stake in shares of Insmed by 60.3% during the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 248 shares during the last quarter. Spire Wealth Management acquired a new position in shares of Insmed during the fourth quarter worth $47,000. Smartleaf Asset Management LLC increased its holdings in shares of Insmed by 98.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 411 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new position in shares of Insmed in the 4th quarter valued at $86,000.

Insider Activity

In other Insmed news, CFO Sara Bonstein sold 1,066 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $63.72, for a total value of $67,925.52. Following the completion of the sale, the chief financial officer now owns 118,863 shares of the company’s stock, valued at approximately $7,573,950.36. This trade represents a 0.89 % decrease in their ownership of the stock. 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 business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total value of $1,309,500.00. Following the sale, the chief executive officer now owns 384,960 shares of the company’s stock, valued at approximately $26,885,606.40. This represents a 4.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 550,957 shares of company stock worth $42,992,528. Company insiders own 4.60% of the company’s stock.

Insmed Trading Up 0.4 %

Shares of INSM stock opened at $77.99 on Friday. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $84.91. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The stock has a 50 day simple moving average of $78.18 and a two-hundred day simple moving average of $73.99. The company has a market cap of $14.12 billion, a P/E ratio of -13.95 and a beta of 1.28.

Insmed (NASDAQ:INSM) last released 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). The company had revenue of $104.44 million during the quarter, compared to the consensus estimate of $102.31 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. Research analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INSM has been the subject of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Insmed in a report on Wednesday, March 19th. Stifel Nicolaus lowered their price objective on Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, February 21st. JPMorgan Chase & Co. raised their price objective on shares of Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Truist Financial boosted their target price on shares of Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, UBS Group raised their price target on shares of Insmed from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Insmed currently 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.