Avidity Partners Management LP Increases Holdings in Insmed, Inc. $INSM

Avidity Partners Management LP lifted its position in Insmed, Inc. (NASDAQ:INSM) by 52.6% in the fourth quarter, Holdings Channel reports. The firm owned 17,700 shares of the biopharmaceutical company’s stock after buying an additional 6,100 shares during the period. Insmed accounts for 0.9% of Avidity Partners Management LP’s investment portfolio, making the stock its 25th largest holding. Avidity Partners Management LP’s holdings in Insmed were worth $3,081,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of INSM. Norges Bank purchased a new stake in shares of Insmed in the fourth quarter valued at approximately $506,625,000. Vanguard Group Inc. boosted its holdings in shares of Insmed by 13.0% in the third quarter. Vanguard Group Inc. now owns 19,935,820 shares of the biopharmaceutical company’s stock valued at $2,870,957,000 after purchasing an additional 2,291,328 shares during the period. Artisan Partners Limited Partnership boosted its holdings in shares of Insmed by 49.0% in the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock valued at $711,076,000 after purchasing an additional 1,623,342 shares during the period. Orbis Allan Gray Ltd purchased a new stake in shares of Insmed in the second quarter valued at approximately $153,389,000. Finally, State Street Corp boosted 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 valued at $905,312,000 after purchasing an additional 1,217,390 shares during the period.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley upgraded Insmed from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $166.00 to $212.00 in a report on Monday, March 30th. Stifel Nicolaus boosted their price target on Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a report on Wednesday. Barclays boosted their price target on Insmed from $231.00 to $237.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. Finally, Truist Financial reduced their price objective on shares of Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Insmed has an average rating of “Moderate Buy” and an average price target of $212.50.

Insmed Stock Performance

Shares of NASDAQ:INSM opened at $97.85 on Friday. The company has a market capitalization of $21.21 billion, a price-to-earnings ratio of -17.02 and a beta of 0.79. Insmed, Inc. has a 52 week low of $90.39 and a 52 week high of $212.75. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average of $124.55 and a 200 day moving average of $151.31.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. The company 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%. Insmed’s revenue for the quarter 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. On average, sell-side analysts predict that Insmed, Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Insmed

In other news, COO Roger Adsett sold 88,060 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $164.63, for a total transaction of $14,497,317.80. Following the transaction, the chief operating officer directly owned 106,810 shares of the company’s stock, valued at approximately $17,584,130.30. This represents a 45.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Alexander Smith sold 19,638 shares of the company’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $150.98, for a total value of $2,964,945.24. Following the transaction, the insider directly owned 51,871 shares in the company, valued at approximately $7,831,483.58. The trade was a 27.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 160,482 shares of company stock worth $24,438,193. 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.