Artisan Partners Limited Partnership Sells 93,934 Shares of Insmed, Inc. $INSM

Key Points

• Artisan Partners trimmed its Insmed stake by 1.9% in the fourth quarter, selling 93,934 shares and ending with 4,843,749 shares worth about $843 million.
• Analyst sentiment remains positive, with Insmed carrying a “Moderate Buy” consensus rating and an average price target of $211.86; several firms recently reaffirmed or raised bullish ratings.
• Insider selling continued, including CFO Sara Bonstein and COO Roger Adsett, with insiders selling 160,482 shares worth roughly $24.4 million over the last three months.

Artisan Partners Limited Partnership lowered its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,843,749 shares of the biopharmaceutical company's stock after selling 93,934 shares during the period. Insmed accounts for about 1.3% of Artisan Partners Limited Partnership's holdings, making the stock its 18th biggest position. Artisan Partners Limited Partnership owned approximately 2.27% of Insmed worth $843,006,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Insmed by 5.7% in the fourth 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 in the last quarter. Darwin Global Management Ltd. lifted its holdings in shares of Insmed by 5.8% in the third quarter. Darwin Global Management Ltd. now owns 20,457,445 shares of the biopharmaceutical company's stock valued at $2,897,797,000 after purchasing an additional 1,112,824 shares in the last quarter. Capital International Investors lifted its holdings in shares of Insmed by 1.0% in the third quarter. Capital International Investors now owns 7,553,853 shares of the biopharmaceutical company's stock valued at $1,087,830,000 after purchasing an additional 74,994 shares in the last quarter. State Street Corp lifted 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 in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Insmed by 14.4% in the fourth quarter. Geode Capital Management LLC now owns 4,299,052 shares of the biopharmaceutical company's stock valued at $751,936,000 after purchasing an additional 539,625 shares in the last quarter.

Analyst Ratings Changes

INSM has been the subject of a number of research analyst reports. Roth Mkm reaffirmed a "buy" rating on shares of Insmed in a research report on Monday, June 8th. Raymond James Financial initiated coverage on Insmed in a research report on Friday, April 10th. They set an "outperform" rating and a $200.00 price target for the company. Mizuho set a $192.00 price target on Insmed in a research report on Tuesday. Morgan Stanley raised Insmed from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $166.00 to $212.00 in a research report on Monday, March 30th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Insmed in a research report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Insmed has an average rating of "Moderate Buy" and an average price target of $211.86.

Insider Buying and Selling

In related news, CFO Sara Bonstein sold 2,404 shares of Insmed stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $245,857.08. Following the completion of the sale, the chief financial officer owned 69,082 shares of the company's stock, valued at approximately $7,065,016.14. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Roger Adsett sold 88,060 shares of Insmed stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total value of $14,497,317.80. Following the sale, the chief operating officer directly owned 106,810 shares of the company's stock, valued at $17,584,130.30. This represents a 45.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 160,482 shares of company stock valued at $24,438,193 over the last three months. Insiders own 2.10% of the company's stock.

Insmed Stock Performance

NASDAQ:INSM opened at $95.52 on Wednesday. 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 fifty day simple moving average of $121.91 and a two-hundred day simple moving average of $149.36. Insmed, Inc. has a 1 year low of $90.39 and a 1 year high of $212.75. The company has a market capitalization of $20.70 billion, a P/E ratio of -16.61 and a beta of 0.79.

Insmed (NASDAQ:INSM - Get Free Report) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $300.81 million. During the same period last year, the business posted ($1.42) earnings per share. The business's revenue for the quarter was up 229.7% on a year-over-year basis. On average, analysts expect that Insmed, Inc. will post -2.54 earnings per share for the current year.

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.

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