Insmed, Inc. $INSM Shares Bought by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. grew its stake in Insmed, Inc. (NASDAQ:INSM) by 88.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,775 shares of the biopharmaceutical company’s stock after acquiring an additional 7,863 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Insmed were worth $2,920,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in shares of Insmed by 65.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 263 shares during the last quarter. First Trust Advisors LP raised its position in shares of Insmed by 80.8% in the second quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock valued at $4,770,000 after buying an additional 21,176 shares during the last quarter. Baird Financial Group Inc. acquired a new position in shares of Insmed in the second quarter valued at approximately $2,589,000. Amundi lifted its stake in shares of Insmed by 21,194.4% during the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock valued at $1,130,000 after buying an additional 11,445 shares during the period. Finally, Natixis purchased a new position in shares of Insmed during the second quarter valued at approximately $1,072,000.

Insiders Place Their Bets

In related news, CFO Sara Bonstein sold 2,404 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $245,857.08. Following the completion of the transaction, the chief financial officer owned 69,082 shares of the company’s stock, valued at approximately $7,065,016.14. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 21,398 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $103.32, for a total value of $2,210,841.36. Following the sale, the chief executive officer owned 258,917 shares of the company’s stock, valued at approximately $26,751,304.44. This trade represents a 7.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 153,349 shares of company stock worth $22,321,619. 2.10% of the stock is owned by insiders.

Insmed Stock Performance

Insmed stock opened at $103.38 on Monday. Insmed, Inc. has a 12-month low of $90.39 and a 12-month high of $212.75. The company has a market capitalization of $22.41 billion, a price-to-earnings ratio of -17.98 and a beta of 0.79. 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 firm’s fifty day moving average price is $112.90 and its 200 day moving average price is $143.45.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. The company had revenue of $305.96 million during the quarter, compared to analysts’ expectations of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm’s revenue for the quarter was up 229.7% on a year-over-year basis. During the same period in the prior year, the company posted ($1.42) EPS. On average, research analysts forecast that Insmed, Inc. will post -2.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INSM. Mizuho set a $192.00 price target on Insmed in a report on Tuesday, June 16th. Raymond James Financial assumed coverage on Insmed in a research report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price objective for the company. Guggenheim dropped their target price on Insmed from $230.00 to $226.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Roth Mkm reiterated a “buy” rating on shares of Insmed in a research report on Monday, June 8th. Finally, Leerink Partners raised their target price on shares of Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. One investment 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. Based on data from MarketBeat.com, Insmed has a consensus rating of “Moderate Buy” and an average price target of $211.86.

Insmed Company Profile

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.