Insmed, Inc. $INSM Shares Purchased by Legato Capital Management LLC

Legato Capital Management LLC increased its position in shares of Insmed, Inc. (NASDAQ:INSM) by 14.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 40,006 shares of the biopharmaceutical company’s stock after acquiring an additional 5,174 shares during the quarter. Insmed accounts for approximately 0.6% of Legato Capital Management LLC’s investment portfolio, making the stock its 18th largest position. Legato Capital Management LLC’s holdings in Insmed were worth $6,963,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Insmed by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company’s stock valued at $3,668,127,000 after purchasing an additional 1,140,524 shares during the period. Darwin Global Management Ltd. lifted its stake in Insmed by 5.8% in the 3rd quarter. Darwin Global Management Ltd. now owns 20,457,445 shares of the biopharmaceutical company’s stock worth $2,897,797,000 after acquiring an additional 1,112,824 shares in the last quarter. Capital International Investors raised its stake in shares of Insmed by 1.0% during the 3rd quarter. Capital International Investors now owns 7,553,853 shares of the biopharmaceutical company’s stock worth $1,087,830,000 after purchasing an additional 74,994 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Insmed by 49.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after purchasing an additional 1,623,342 shares in the last quarter. Finally, Duquesne Family Office LLC raised its stake in shares of Insmed by 3.0% during the 3rd quarter. Duquesne Family Office LLC now owns 2,423,435 shares of the biopharmaceutical company’s stock worth $348,999,000 after purchasing an additional 70,000 shares in the last quarter.

Insider Transactions at Insmed

In other news, insider Michael Alexander Smith sold 19,638 shares of the stock in a transaction that occurred 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 transaction, the insider owned 51,871 shares in the company, valued at approximately $7,831,483.58. This trade represents a 27.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger Adsett sold 88,060 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $164.63, for a total value of $14,497,317.80. Following the transaction, the chief operating officer owned 106,810 shares in the company, valued at approximately $17,584,130.30. This trade represents a 45.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 156,643 shares of company stock worth $24,513,766. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on INSM. Barclays raised their price objective on Insmed from $231.00 to $237.00 and gave the company an “overweight” rating in a research note on Wednesday, April 1st. Bank of America lifted their price objective on Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Stifel Nicolaus lifted their price objective on Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Truist Financial decreased their price target on Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Finally, Morgan Stanley upgraded Insmed from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $166.00 to $212.00 in a research report on Monday, March 30th. 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, Insmed presently has a consensus rating of “Moderate Buy” and an average target price of $210.95.

Insmed Stock Down 3.0%

INSM stock opened at $106.24 on Friday. Insmed, Inc. has a fifty-two week low of $65.56 and a fifty-two week high of $212.75. The stock has a market capitalization of $23.03 billion, a P/E ratio of -18.48 and a beta of 0.89. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The business has a 50-day moving average of $137.89 and a 200-day moving average of $160.87.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same quarter in the prior year, the company posted ($1.42) earnings per share. Insmed’s revenue was up 229.7% on a year-over-year basis. On average, sell-side analysts anticipate that Insmed, Inc. will post -2.52 earnings per share for the current fiscal year.

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.