Avidity Partners Management LP Raises Holdings in Insmed, Inc. $INSM

Avidity Partners Management LP grew its position in shares of Insmed, Inc. (NASDAQ:INSM) by 52.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,700 shares of the biopharmaceutical company’s stock after purchasing an additional 6,100 shares during the period. Insmed makes up approximately 0.9% of Avidity Partners Management LP’s investment portfolio, making the stock its 25th biggest position. Avidity Partners Management LP’s holdings in Insmed were worth $3,081,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in INSM. EverSource Wealth Advisors LLC grew its position in shares of Insmed by 65.6% during the second quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 263 shares in the last quarter. First Trust Advisors LP grew its position in Insmed by 80.8% in the second quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock worth $4,770,000 after acquiring an additional 21,176 shares in the last quarter. Baird Financial Group Inc. purchased a new position in Insmed in the second quarter worth about $2,589,000. Amundi grew its position in Insmed by 21,194.4% in the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock worth $1,130,000 after acquiring an additional 11,445 shares in the last quarter. Finally, Natixis purchased a new position in Insmed in the second quarter worth about $1,072,000.

Insiders Place Their Bets

In related news, CEO William Lewis sold 7,605 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $777,763.35. Following the completion of the sale, the chief executive officer directly owned 265,432 shares of the company’s stock, valued at approximately $27,145,730.64. This trade represents a 2.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Alexander Smith sold 2,159 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $220,800.93. Following the sale, the insider directly owned 39,454 shares of the company’s stock, valued at $4,034,960.58. This represents a 5.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 160,482 shares of company stock valued at $24,438,193 over the last quarter. 2.10% of the stock is currently owned by insiders.

Insmed Price Performance

Shares of INSM stock opened at $97.85 on Friday. Insmed, Inc. has a 52-week low of $90.39 and a 52-week high of $212.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. The firm has a market capitalization of $21.21 billion, a P/E ratio of -17.02 and a beta of 0.79. The stock has a 50 day moving average price of $124.55 and a 200 day moving average price of $151.31.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The firm had revenue of $305.96 million during the quarter, compared to analyst estimates of $300.81 million. During the same period last year, the company earned ($1.42) EPS. Insmed’s quarterly revenue was up 229.7% compared to the same quarter last year. As a group, sell-side analysts predict that Insmed, Inc. will post -2.54 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on INSM. Stifel Nicolaus lifted their price target on Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Raymond James Financial began coverage on Insmed in a research report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price target for the company. Royal Bank Of Canada dropped their price target on Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. Leerink Partners lifted their price target on Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. Finally, Jefferies Financial Group began coverage on Insmed in a research report on Monday, March 16th. They issued a “buy” rating and a $228.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $212.50.

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.