TimesSquare Capital Management LLC Acquires 65,421 Shares of Insmed, Inc. $INSM

TimesSquare Capital Management LLC boosted its holdings in Insmed, Inc. (NASDAQ:INSM) by 15.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 490,506 shares of the biopharmaceutical company’s stock after purchasing an additional 65,421 shares during the period. Insmed comprises about 1.3% of TimesSquare Capital Management LLC’s portfolio, making the stock its 22nd largest holding. TimesSquare Capital Management LLC’s holdings in Insmed were worth $85,368,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Artisan Partners Limited Partnership increased its holdings in Insmed by 49.0% during the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after buying an additional 1,623,342 shares during the last quarter. Atika Capital Management LLC acquired a new position in Insmed during the third quarter worth $13,681,000. Nordea Investment Management AB acquired a new position in Insmed during the fourth quarter worth $3,492,000. Keybank National Association OH increased its holdings in Insmed by 76.7% during the third quarter. Keybank National Association OH now owns 16,716 shares of the biopharmaceutical company’s stock worth $2,407,000 after buying an additional 7,257 shares during the last quarter. Finally, Essex Investment Management Co. LLC increased its holdings in Insmed by 31.2% during the third quarter. Essex Investment Management Co. LLC now owns 87,077 shares of the biopharmaceutical company’s stock worth $12,540,000 after buying an additional 20,732 shares during the last quarter.

Insmed Trading Down 1.8%

INSM stock opened at $107.15 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The company has a fifty day moving average price of $140.60 and a two-hundred day moving average price of $162.84. Insmed, Inc. has a one year low of $64.85 and a one year high of $212.75. The stock has a market cap of $23.22 billion, a price-to-earnings ratio of -18.63 and a beta of 0.89.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm had revenue of $305.96 million during the quarter, compared to analysts’ expectations of $300.81 million. During the same period in the previous year, the business posted ($1.42) earnings per share. The company’s revenue for the quarter was up 229.7% compared to the same quarter last year. Equities analysts anticipate that Insmed, Inc. will post -2.52 EPS for the current year.

Insiders Place Their Bets

In related news, CEO William Lewis sold 10,699 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $143.97, for a total value of $1,540,335.03. Following the transaction, the chief executive officer directly owned 301,185 shares in the company, valued at approximately $43,361,604.45. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Alexander Smith sold 19,638 shares of the company’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $150.98, for a total transaction of $2,964,945.24. Following the completion of the transaction, the insider owned 51,871 shares in the company, valued at $7,831,483.58. This trade represents a 27.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 161,193 shares of company stock valued at $25,462,012 over the last ninety days. 2.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Mizuho boosted their target price on shares of Insmed from $204.00 to $206.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Leerink Partners boosted their target price on shares of Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Tuesday, March 24th. HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a research report on Friday, May 8th. Truist Financial reduced their price objective on shares of Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Finally, Wells Fargo & Company reduced their price objective on shares of Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Insmed has an average rating of “Moderate Buy” and a consensus price target of $210.95.

Insmed Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.