Geode Capital Management LLC Grows Stock Position in Insmed, Inc. $INSM

Geode Capital Management LLC increased its position in shares of Insmed, Inc. (NASDAQ:INSM) by 14.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,299,052 shares of the biopharmaceutical company’s stock after purchasing an additional 539,625 shares during the quarter. Geode Capital Management LLC’s holdings in Insmed were worth $751,936,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. CIBC Private Wealth Group LLC raised its position in shares of Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 53 shares during the period. Kingsview Wealth Management LLC raised its position in shares of Insmed by 2.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 2,321 shares of the biopharmaceutical company’s stock valued at $334,000 after buying an additional 60 shares during the period. Choreo LLC raised its position in shares of Insmed by 2.9% during the 3rd quarter. Choreo LLC now owns 2,319 shares of the biopharmaceutical company’s stock valued at $334,000 after buying an additional 65 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Insmed by 10.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $130,000 after buying an additional 69 shares during the period. Finally, ORG Partners LLC raised its position in shares of Insmed by 12.7% during the 4th quarter. ORG Partners LLC now owns 657 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 74 shares during the period.

Insmed Stock Down 1.3%

Insmed stock opened at $106.91 on Friday. The firm has a 50 day moving average price of $134.42 and a 200 day moving average price of $158.11. The company has a market capitalization of $23.17 billion, a PE ratio of -18.59 and a beta of 0.89. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. Insmed, Inc. has a fifty-two week low of $65.56 and a fifty-two week high of $212.75.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on INSM shares. Leerink Partners lifted their price target on shares of Insmed from $210.00 to $215.00 and gave the company an “outperform” rating in a research report on Tuesday, March 24th. Stifel Nicolaus lifted their price target on shares of Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Insmed in a report on Tuesday, April 21st. Guggenheim dropped their target price on shares of Insmed from $230.00 to $226.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Wells Fargo & Company dropped their target price on shares of Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Insmed has an average rating of “Moderate Buy” and an average price target of $210.95.

Insiders Place Their Bets

In other Insmed news, CEO William Lewis sold 10,699 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $143.52, for a total value of $1,535,520.48. Following the completion of the transaction, the chief executive officer owned 301,185 shares in the company, valued at $43,226,071.20. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael Alexander Smith sold 19,638 shares of the business’s stock in a transaction on Monday, March 30th. The stock was 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 of the company’s stock, valued at approximately $7,831,483.58. This trade represents a 27.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 156,643 shares of company stock worth $24,513,766 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Insmed Company 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.