Capital International Investors Sells 2,402,182 Shares of Insmed, Inc. $INSM

Key Points

• Capital International Investors reduced its Insmed stake by 31.8% in the fourth quarter, selling 2.4 million shares and leaving it with 5.15 million shares worth about $896.6 million.
• Insmed reported better-than-expected Q1 earnings, posting an EPS loss of $0.76 versus estimates for a $0.90 loss, while revenue climbed 229.7% year over year to $305.96 million.
• Analyst sentiment remains constructive overall, with a Moderate Buy consensus and an average target price of $210.50, even as some firms trimmed price targets and insiders recently sold shares.

Capital International Investors cut its holdings in Insmed, Inc. (NASDAQ:INSM - Free Report) by 31.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 owned about 2.42% of Insmed worth $896,597,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Artisan Partners Limited Partnership boosted its holdings in Insmed by 49.0% in the 3rd 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 last quarter. Atika Capital Management LLC acquired a new position in Insmed in the 3rd quarter valued at about $13,681,000. iA Global Asset Management Inc. boosted its holdings in Insmed by 15,973.5% in the 4th quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company's stock valued at $4,644,000 after purchasing an additional 26,516 shares during the last quarter. Nordea Investment Management AB acquired a new position in Insmed in the 4th quarter valued at about $3,492,000. Finally, Essex Investment Management Co. LLC boosted its holdings in Insmed by 31.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 87,077 shares of the biopharmaceutical company's stock valued at $12,540,000 after purchasing an additional 20,732 shares during the last quarter.

Insmed Price Performance

Insmed stock opened at $94.22 on Monday. The firm has a market cap of $20.42 billion, a PE ratio of -16.39 and a beta of 0.79. Insmed, Inc. has a 52-week low of $70.57 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 company's 50 day moving average is $130.45 and its two-hundred day moving average is $154.65.

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 net margin of 144.44% and a negative return on equity of 130.11%. The company had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same period in the prior year, the business earned ($1.42) EPS. The firm's quarterly revenue was up 229.7% on a year-over-year basis. On average, research analysts expect that Insmed, Inc. will post -2.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on INSM. Royal Bank Of Canada decreased their target price on shares of Insmed from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Friday. Bank of America upped their price objective on shares of Insmed from $211.00 to $213.00 and gave the stock a "buy" rating in a report on Tuesday, March 24th. Morgan Stanley upgraded shares of Insmed from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $166.00 to $212.00 in a report on Monday, March 30th. Jefferies Financial Group assumed coverage on shares of Insmed in a report on Monday, March 16th. They issued a "buy" rating and a $228.00 price objective on the stock. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Insmed in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Insmed has a consensus rating of "Moderate Buy" and an average target price of $210.50.

Insider Activity

In other Insmed news, COO Roger Adsett sold 2,370 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $242,379.90. Following the sale, the chief operating officer directly owned 98,603 shares of the company's stock, valued at approximately $10,084,128.81. This represents a 2.35% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 stock in a transaction that occurred on 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 directly owned 265,432 shares in the company, valued at approximately $27,145,730.64. This represents a 2.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 160,482 shares of company stock valued at $24,438,193. 2.10% of the stock is currently owned by company insiders.

Insmed 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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