The Vanguard Group, Inc. recently announced the acquisition of new stake in Insmed Incorporated (NASDAQ:INSM). The institutional investor has increased its shareholding in the Healthcare company by 14.79% to 12.67 million shares with purchase of 1.63 million shares. This fresh investment now brings its stake to 9.29% valued currently at $247.13 million. In addition, T. Rowe Price Associates, Inc. raised its holdings by 0.43 million to 9.98 million shares. And T. Rowe Price Investment Manageme has lifted its position by 3.82% or 0.31 million shares – to 8.37 million shares.
With over 2.29 million Insmed Incorporated (INSM) shares trading Monday and a closing price of $20.31 on the day, the dollar volume was approximately $46.54 million. The shares have shown a positive half year performance of 9.61% and its price on 05/22/23 gained nearly 4.37%. Currently, there are 136.35M common shares owned by the public and among those 133.53M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for INSM have a consensus price objective of $39.15. The analysts have set the share’s price value over the next 12 months at a high of $52.00 and a low of $28.00. The average price target is 48.48% above its recent price level and an upside to the estimated low will see the stock gain 27.46% over that period. But an upside of 60.94% will see the stock hit the forecast high price target while median target price for the stock is $36.00.
Insiders at the company have transacted a total of 42 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 489,304 shares. Insider sales of the common stock occurred on 24 occasions, with total insider shares sold totaling 375,308 shares.
The top 3 mutual fund holders in Insmed Incorporated are Vanguard Total Stock Market ETF, T Rowe Price New Horizons Fund, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market ETF owns 4.26 million shares of the company’s stock, all valued at over $83.09 million. The company bought an additional 87183.0 shares recently to bring their total holdings to about 3.12% of the shares outstanding. T Rowe Price New Horizons Fund sold 2983.0 shares to see its total holdings shrink to 4.2 million shares valued at over $81.87 million and representing 3.08% of the shares outstanding. Vanguard Small Cap Index Fund bought 38678.0 shares to bring its total holdings to over 3.57 million shares at a value of $69.62 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.62% of the shares outstanding.
Shares of Insmed Incorporated (NASDAQ: INSM) opened at $19.54, up $0.08 from a prior closing price of $19.46. However, the script later moved the day high at 20.35, up 4.37%. The company’s stock has a 5-day price change of 5.40% and 0.20% over the past three months. INSM shares are trading 1.65% year to date (YTD), with the 12-month market performance up to 3.78% higher. It has a 12-month low price of $16.04 and touched a high of $28.94 over the same period. INSM has an average intraday trading volume of 1.18 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.00%, 12.89%, and 0.01% respectively.
Institutional ownership of Insmed Incorporated (NASDAQ: INSM) shares accounts for 96.90% of the company’s 136.35M shares outstanding. Mutual fund holders own 45.68%, while other institutional holders and individual stakeholders account for 59.38% and 3.46% respectively.
It has a market capitalization of $2.68B and a beta (3y monthly) value of 1.53. The earnings-per-share (ttm) stands at -$4.26. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.04% over the week and 4.19% over the month.
Analysts forecast that Insmed Incorporated (INSM) will achieve an EPS of -$1.12 for the current quarter, -$1.09 for the next quarter and -$4.21 for 2024. The lowest estimate earnings-per-share for the quarter is -$1.24 while analysts give the company a high EPS estimate of -$1.02. Comparatively, EPS for the current quarter was -$0.8 a year ago. Earnings per share for the fiscal year are expected to decrease by -0.90%, and 8.50% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate Insmed Incorporated (INSM) as a “Strong Buy” at a consensus score of 1.80. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 0 of the 13 advise that investors “hold,” and 0 rated it as a “Sell.”
