Vanguard Group Inc. Cuts Position in Insmed Incorporated (NASDAQ:INSM)

Vanguard Group Inc. lowered its position in Insmed Incorporated (NASDAQ:INSM) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,125,521 shares of the biopharmaceutical company’s stock after selling 219,991 shares during the quarter. Vanguard Group Inc. owned approximately 9.51% of Insmed worth $437,750,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RTW Investments LP lifted its position in shares of Insmed by 86.5% during the 3rd quarter. RTW Investments LP now owns 1,865,108 shares of the biopharmaceutical company’s stock worth $47,094,000 after purchasing an additional 865,108 shares during the last quarter. Norges Bank acquired a new position in shares of Insmed during the 4th quarter worth about $45,029,000. Principal Financial Group Inc. increased its holdings in shares of Insmed by 5.4% in the 4th quarter. Principal Financial Group Inc. now owns 1,359,563 shares of the biopharmaceutical company’s stock valued at $42,133,000 after acquiring an additional 69,281 shares during the last quarter. Northern Trust Corp raised its position in shares of Insmed by 1.7% during the 3rd quarter. Northern Trust Corp now owns 1,346,432 shares of the biopharmaceutical company’s stock worth $33,997,000 after acquiring an additional 21,875 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Insmed by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,128,436 shares of the biopharmaceutical company’s stock worth $34,970,000 after purchasing an additional 28,629 shares during the last quarter.

Insmed Stock Performance

INSM stock opened at $68.98 on Thursday. The stock has a market capitalization of $10.25 billion, a PE ratio of -13.19 and a beta of 1.12. The company has a fifty day moving average of $40.84 and a 200-day moving average of $32.60. Insmed Incorporated has a one year low of $19.68 and a one year high of $70.65.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.06) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.16. The firm had revenue of $75.50 million during the quarter, compared to analyst estimates of $77.76 million. During the same quarter in the previous year, the business earned ($1.17) EPS. Insmed’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities analysts forecast that Insmed Incorporated will post -4.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on INSM. Barclays raised their price objective on shares of Insmed from $40.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. UBS Group boosted their price target on shares of Insmed from $46.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. The Goldman Sachs Group raised their price objective on Insmed from $49.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. JPMorgan Chase & Co. upped their target price on Insmed from $55.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Finally, Wells Fargo & Company lifted their price target on Insmed from $55.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $62.38.

Insider Activity

In related news, CEO William Lewis sold 22,198 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total transaction of $566,492.96. Following the transaction, the chief executive officer now owns 384,125 shares of the company’s stock, valued at $9,802,870. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO William Lewis sold 22,198 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.52, for a total transaction of $566,492.96. Following the sale, the chief executive officer now owns 384,125 shares of the company’s stock, valued at $9,802,870. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Drayton Wise sold 5,088 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total transaction of $129,591.36. Following the completion of the transaction, the insider now directly owns 123,259 shares of the company’s stock, valued at $3,139,406.73. The disclosure for this sale can be found here. Insiders sold 295,842 shares of company stock valued at $13,762,062 in the last three months. 4.60% of the stock is currently owned by company insiders.

Insmed 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.