Woodline Partners LP Decreases Stake in Insmed Incorporated (NASDAQ:INSM)

Woodline Partners LP decreased its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 25.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,230 shares of the biopharmaceutical company’s stock after selling 54,149 shares during the quarter. Woodline Partners LP owned about 0.09% of Insmed worth $11,200,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in Insmed by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock worth $1,257,838,000 after acquiring an additional 1,075,796 shares during the last quarter. Darwin Global Management Ltd. lifted its stake in Insmed by 23.5% in the 4th quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock worth $894,796,000 after purchasing an additional 2,463,261 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Insmed by 1.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,704,410 shares of the biopharmaceutical company’s stock worth $877,113,000 after purchasing an additional 123,429 shares during the last quarter. Capital International Investors grew its position in shares of Insmed by 9.1% in the fourth quarter. Capital International Investors now owns 7,116,997 shares of the biopharmaceutical company’s stock valued at $491,357,000 after purchasing an additional 593,206 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Insmed by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 4,087,143 shares of the biopharmaceutical company’s stock valued at $282,243,000 after purchasing an additional 273,759 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on INSM shares. Truist Financial boosted their price objective on Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Jefferies Financial Group initiated coverage on Insmed in a report on Tuesday, May 13th. They set a “buy” rating and a $105.00 price target on the stock. Bank of America boosted their price target on shares of Insmed from $92.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, March 20th. Royal Bank of Canada restated an “outperform” rating and set a $100.00 price objective on shares of Insmed in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.63.

Insiders Place Their Bets

In other Insmed news, CEO William Lewis sold 21,057 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $67.65, for a total value of $1,424,506.05. Following the completion of the transaction, the chief executive officer now owns 314,230 shares of the company’s stock, valued at $21,257,659.50. This trade represents a 6.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Clarissa Desjardins purchased 1,895 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was acquired at an average price of $66.87 per share, with a total value of $126,718.65. Following the purchase, the director now owns 1,895 shares of the company’s stock, valued at approximately $126,718.65. This represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 153,098 shares of company stock worth $10,724,192 over the last three months. Company insiders own 3.00% of the company’s stock.

Insmed Stock Up 0.2%

NASDAQ:INSM opened at $66.16 on Friday. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $84.91. The stock’s fifty day moving average is $70.88 and its two-hundred day moving average is $73.06. The stock has a market capitalization of $12.05 billion, a price-to-earnings ratio of -11.84 and a beta of 0.84. 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 (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The firm had revenue of $92.82 million during the quarter, compared to analysts’ expectations of $91.63 million. During the same quarter in the prior year, the firm posted ($1.06) EPS. Insmed’s quarterly revenue was up 22.9% compared to the same quarter last year. Research analysts anticipate that Insmed Incorporated will post -4.56 EPS for the current year.

About Insmed

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.