Insmed Incorporated (NASDAQ:INSM) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 21.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 752,226 shares of the biopharmaceutical company’s stock after selling 210,233 shares during the quarter. Wellington Management Group LLP’s holdings in Insmed were worth $51,934,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Insmed during the 4th quarter worth approximately $126,606,000. Vanguard Group Inc. boosted its position in Insmed by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock worth $1,257,838,000 after purchasing an additional 1,075,796 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in Insmed by 8.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 3,126,339 shares of the biopharmaceutical company’s stock valued at $215,842,000 after purchasing an additional 242,242 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Insmed by 12.9% in the third quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock valued at $136,648,000 after buying an additional 214,130 shares in the last quarter. Finally, TimesSquare Capital Management LLC raised its stake in shares of Insmed by 41.4% during the 4th quarter. TimesSquare Capital Management LLC now owns 684,384 shares of the biopharmaceutical company’s stock worth $47,250,000 after buying an additional 200,515 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have weighed in on INSM. Wells Fargo & Company raised their target price on shares of Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a research report on Wednesday, February 19th. Truist Financial upped their target price on Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Bank of America raised their price target on Insmed from $92.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, March 20th. Finally, UBS Group upped their price objective on Insmed from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Insmed currently has an average rating of “Moderate Buy” and an average price target of $94.00.

Insmed Stock Down 5.7 %

Shares of INSM opened at $69.18 on Friday. The firm has a market cap of $12.52 billion, a PE ratio of -12.38 and a beta of 1.07. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The company’s fifty day moving average is $77.78 and its two-hundred day moving average is $73.97. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $84.91.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The firm had revenue of $104.44 million for the quarter, compared to analysts’ expectations of $102.31 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. Analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current year.

Insider Activity at Insmed

In related news, insider Martina M.D. Flammer sold 6,172 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $63.64, for a total value of $392,786.08. Following the completion of the sale, the insider now directly owns 101,549 shares in the company, valued at approximately $6,462,578.36. This represents a 5.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $77.03, for a total value of $1,444,312.50. Following the transaction, the chief executive officer now owns 334,186 shares in the company, valued at approximately $25,742,347.58. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 532,207 shares of company stock worth $41,683,028. Company insiders own 4.60% of the company’s stock.

Insmed Company Profile

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.