Legato Capital Management LLC Increases Stock Position in Insmed, Inc. $INSM

Legato Capital Management LLC lifted its holdings in shares of Insmed, Inc. (NASDAQ:INSM) by 14.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,006 shares of the biopharmaceutical company’s stock after acquiring an additional 5,174 shares during the period. Insmed accounts for about 0.6% of Legato Capital Management LLC’s holdings, making the stock its 18th biggest position. Legato Capital Management LLC’s holdings in Insmed were worth $6,963,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of INSM. Vanguard Group Inc. grew its position in Insmed by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company’s stock valued at $3,668,127,000 after buying an additional 1,140,524 shares during the last quarter. Darwin Global Management Ltd. lifted its holdings in Insmed by 5.8% in the third quarter. Darwin Global Management Ltd. now owns 20,457,445 shares of the biopharmaceutical company’s stock valued at $2,897,797,000 after acquiring an additional 1,112,824 shares during the period. Capital International Investors lifted its holdings in Insmed by 1.0% in the third quarter. Capital International Investors now owns 7,553,853 shares of the biopharmaceutical company’s stock valued at $1,087,830,000 after acquiring an additional 74,994 shares during the period. Artisan Partners Limited Partnership lifted its holdings in Insmed by 49.0% in the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock valued at $711,076,000 after acquiring an additional 1,623,342 shares during the period. Finally, Duquesne Family Office LLC lifted its holdings in Insmed by 3.0% in the third quarter. Duquesne Family Office LLC now owns 2,423,435 shares of the biopharmaceutical company’s stock valued at $348,999,000 after acquiring an additional 70,000 shares during the period.

Insider Buying and Selling

In other news, CEO William Lewis sold 10,699 shares of the stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $143.97, for a total transaction of $1,540,335.03. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 88,060 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $164.63, for a total value of $14,497,317.80. Following the transaction, the chief operating officer owned 106,810 shares in the company, valued at $17,584,130.30. This trade represents a 45.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 156,643 shares of company stock valued at $24,513,766. Company insiders own 2.10% of the company’s stock.

Insmed Trading Down 3.0%

NASDAQ:INSM opened at $106.24 on Friday. The company has a market capitalization of $23.03 billion, a PE ratio of -18.48 and a beta of 0.89. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. Insmed, Inc. has a 52-week low of $65.56 and a 52-week high of $212.75. The stock has a fifty day simple moving average of $137.89 and a 200-day simple moving average of $160.87.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $300.81 million. During the same quarter in the previous year, the company posted ($1.42) EPS. The firm’s revenue for the quarter was up 229.7% on a year-over-year basis. On average, equities research analysts expect that Insmed, Inc. will post -2.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

INSM has been the subject of a number of recent analyst reports. Royal Bank Of Canada reduced their target price on Insmed from $220.00 to $205.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Stifel Nicolaus raised their target price on Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Wells Fargo & Company cut their price target on Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Morgan Stanley raised Insmed from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $166.00 to $212.00 in a research note on Monday, March 30th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Insmed currently has a consensus rating of “Moderate Buy” and an average price target of $210.95.

About Insmed

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.