Capital International Investors Reduces Holdings in Insmed, Inc. $INSM

Capital International Investors trimmed its stake in Insmed, Inc. (NASDAQ:INSM) by 31.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,151,671 shares of the biopharmaceutical company’s stock after selling 2,402,182 shares during the period. Capital International Investors’ holdings in Insmed were worth $896,597,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. CoreCap Advisors LLC purchased a new position in shares of Insmed in the 4th quarter valued at $27,000. GraniteShares Advisors LLC purchased a new position in Insmed during the 4th quarter worth $30,000. CIBC Private Wealth Group LLC grew its position in Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 53 shares during the last quarter. SBI Securities Co. Ltd. grew its position in Insmed by 404.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 166 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in Insmed by 137.0% during the 4th quarter. Larson Financial Group LLC now owns 256 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 148 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Barclays raised their price objective on shares of Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Raymond James Financial assumed coverage on shares of Insmed in a research report on Friday, April 10th. They set an “outperform” rating and a $200.00 price objective on the stock. Truist Financial lowered their price objective on shares of Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research report on Tuesday, April 21st. Finally, Morgan Stanley raised shares of Insmed from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $166.00 to $212.00 in a research report on Monday, March 30th. One 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $210.50.

Insider Activity at Insmed

In related news, insider Michael Alexander Smith sold 2,159 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $220,800.93. Following the completion of the sale, the insider owned 39,454 shares in the company, valued at $4,034,960.58. This trade represents a 5.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 7,605 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $777,763.35. Following the completion of the sale, the chief executive officer owned 265,432 shares of the company’s stock, valued at $27,145,730.64. This trade represents a 2.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 160,482 shares of company stock worth $24,438,193 over the last three months. 2.10% of the stock is currently owned by company insiders.

Insmed Price Performance

Shares of NASDAQ INSM opened at $94.22 on Monday. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. Insmed, Inc. has a 52 week low of $70.57 and a 52 week high of $212.75. The firm has a 50-day moving average price of $130.45 and a 200 day moving average price of $154.65. The stock has a market capitalization of $20.42 billion, a price-to-earnings ratio of -16.39 and a beta of 0.79.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm had revenue of $305.96 million during the quarter, compared to analysts’ expectations of $300.81 million. During the same quarter last year, the business earned ($1.42) earnings per share. The business’s revenue for the quarter was up 229.7% compared to the same quarter last year. Equities research analysts anticipate that Insmed, Inc. will post -2.56 EPS 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.