Insmed, Inc. $INSM Stock: William Blair Investment Management LLC Reduces Stake

William Blair Investment Management LLC cut its holdings in shares of Insmed, Inc. (NASDAQ:INSM) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 619,049 shares of the biopharmaceutical company’s stock after selling 10,782 shares during the period. William Blair Investment Management LLC’s holdings in Insmed were worth $70,658,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in INSM. Russell Investments Group Ltd. grew its position in Insmed by 101.7% in the third quarter. Russell Investments Group Ltd. now owns 282,873 shares of the biopharmaceutical company’s stock worth $32,446,000 after buying an additional 142,654 shares during the last quarter. Eurizon Capital SGR S.p.A. lifted its position in shares of Insmed by 35.6% during the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 27,457 shares of the biopharmaceutical company’s stock valued at $3,138,000 after acquiring an additional 7,210 shares during the last quarter. Bingham Private Wealth LLC lifted its position in shares of Insmed by 15.9% during the 3rd quarter. Bingham Private Wealth LLC now owns 2,287 shares of the biopharmaceutical company’s stock valued at $261,000 after acquiring an additional 314 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of Insmed by 11.2% during the 3rd quarter. Maryland State Retirement & Pension System now owns 12,642 shares of the biopharmaceutical company’s stock worth $1,443,000 after acquiring an additional 1,273 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new position in shares of Insmed in the 3rd quarter worth $299,000.

Insiders Place Their Bets

In other news, Director David Brennan sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $124.00, for a total value of $3,100,000.00. Following the completion of the sale, the director directly owned 39,238 shares of the company’s stock, valued at $4,865,512. This represents a 38.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is currently owned by company insiders.

Insmed Stock Up 2.6%

Shares of Insmed stock traded up $3.09 during midday trading on Friday, hitting $121.16. The company’s stock had a trading volume of 1,543,590 shares, compared to its average volume of 3,815,081. The firm has a market capitalization of $26.58 billion, a P/E ratio of -42.96 and a beta of 0.83. The stock has a 50-day simple moving average of $110.82 and a 200-day simple moving average of $123.37. The company has a quick ratio of 2.59, a current ratio of 2.86 and a debt-to-equity ratio of 0.77. Insmed, Inc. has a 1-year low of $90.39 and a 1-year high of $212.75.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.08). The business had revenue of $524.43 million for the quarter, compared to analyst estimates of $500.36 million. Insmed had a negative net margin of 39.85% and a negative return on equity of 96.38%. The firm’s quarterly revenue was up 268.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.75) earnings per share. As a group, sell-side analysts expect that Insmed, Inc. will post -1.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INSM. Evercore reaffirmed an “outperform” rating and set a $170.00 target price on shares of Insmed in a research report on Friday, August 7th. UBS Group reiterated a “buy” rating on shares of Insmed in a research report on Thursday, October 8th. Wells Fargo & Company lifted their price target on Insmed from $161.00 to $169.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Insmed in a research note on Tuesday, October 6th. Finally, Roth Capital reiterated a “buy” rating and issued a $198.00 target price (down from $212.00) on shares of Insmed in a report on Tuesday, September 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $196.52.

Insmed Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing treatments for serious diseases, including respiratory and rare conditions. The company is based in Bridgewater, New Jersey, and is led by President and Chief Executive Officer William H. Lewis Jr. Its commercial products include ARIKAYCE, an inhaled amikacin treatment for certain adults with refractory Mycobacterium avium complex lung disease, and BRINSUPRI (brensocatib), an oral treatment for non-cystic fibrosis bronchiectasis.