Simplify Asset Management Inc. Decreases Stock Holdings in Insmed, Inc. $INSM

Simplify Asset Management Inc. lessened its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 70.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,783 shares of the biopharmaceutical company’s stock after selling 26,107 shares during the quarter. Simplify Asset Management Inc.’s holdings in Insmed were worth $1,763,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Insmed by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company’s stock worth $3,668,127,000 after purchasing an additional 1,140,524 shares during the last quarter. Darwin Global Management Ltd. lifted its holdings in shares of Insmed by 2.3% during the 4th quarter. Darwin Global Management Ltd. now owns 20,933,277 shares of the biopharmaceutical company’s stock valued at $3,644,274,000 after buying an additional 475,832 shares during the period. Capital International Investors boosted its stake in shares of Insmed by 1.0% in the 3rd quarter. Capital International Investors now owns 7,553,853 shares of the biopharmaceutical company’s stock worth $1,087,830,000 after buying an additional 74,994 shares during the last quarter. State Street Corp grew its holdings in shares of Insmed by 30.6% in the fourth quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock worth $905,312,000 after acquiring an additional 1,217,390 shares during the period. Finally, RTW Investments LP increased its position in Insmed by 57.0% during the fourth quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company’s stock valued at $842,855,000 after acquiring an additional 1,758,321 shares during the last quarter.

Insmed Stock Performance

Shares of Insmed stock opened at $111.60 on Friday. Insmed, Inc. has a fifty-two week low of $90.39 and a fifty-two 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 company has a market capitalization of $24.19 billion, a P/E ratio of -19.41 and a beta of 0.78. The company has a fifty day moving average of $109.42 and a 200 day moving average of $140.81.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. The business had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business’s revenue was up 229.7% on a year-over-year basis. During the same period in the previous year, the business earned ($1.42) earnings per share. On average, sell-side analysts anticipate that Insmed, Inc. will post -2.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Insmed from $180.00 to $179.00 and set an “overweight” rating for the company in a research note on Monday, June 8th. Roth Mkm reaffirmed a “buy” rating on shares of Insmed in a report on Monday, June 8th. Stifel Nicolaus increased their price target on shares of Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Royal Bank Of Canada cut their price objective on shares of Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a report on Wednesday, June 10th. One 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 company. According to data from MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and a consensus price target of $211.86.

Insider Activity at Insmed

In other Insmed news, insider Michael Alexander Smith sold 1,806 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $95.82, for a total transaction of $173,050.92. Following the completion of the transaction, the insider owned 37,648 shares of the company’s stock, valued at $3,607,431.36. This represents a 4.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 2,370 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $242,379.90. Following the transaction, the chief operating officer owned 98,603 shares of the company’s stock, valued at approximately $10,084,128.81. The trade was a 2.35% decrease in their position. 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. In the last three months, insiders have sold 65,289 shares of company stock worth $7,824,301. 2.10% of the stock is currently owned by corporate insiders.

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.