Eagle Health Investments LP Trims Position in Insmed, Inc. $INSM

Key Points

• Eagle Health Investments LP cut its Insmed stake by 22.3% in the fourth quarter, leaving it with 210,900 shares worth about $36.7 million.
• Insmed’s latest quarterly results beat expectations, with EPS of -$0.76 versus the -$0.90 estimate and revenue of $305.96 million, up 229.7% year over year.
• Analysts remain broadly positive on the stock: Insmed has a Moderate Buy consensus rating and an average target price of $210.95, though some insiders have recently sold shares.

Eagle Health Investments LP reduced its stake in Insmed, Inc. (NASDAQ:INSM - Free Report) by 22.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 210,900 shares of the biopharmaceutical company's stock after selling 60,700 shares during the period. Insmed makes up 8.1% of Eagle Health Investments LP's portfolio, making the stock its 4th largest holding. Eagle Health Investments LP owned approximately 0.10% of Insmed worth $36,705,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of INSM. Artisan Partners Limited Partnership increased its holdings in shares of Insmed by 49.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company's stock worth $711,076,000 after buying an additional 1,623,342 shares during the last quarter. Atika Capital Management LLC bought a new stake in shares of Insmed in the 3rd quarter worth about $13,681,000. iA Global Asset Management Inc. increased its holdings in shares of 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 worth $4,644,000 after buying an additional 26,516 shares during the last quarter. Nordea Investment Management AB bought a new stake in shares of Insmed in the 4th quarter worth about $3,492,000. Finally, Keybank National Association OH increased its holdings in shares of Insmed by 76.7% in the 3rd quarter. Keybank National Association OH now owns 16,716 shares of the biopharmaceutical company's stock worth $2,407,000 after buying an additional 7,257 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts have recently weighed in on INSM shares. Jefferies Financial Group started coverage on shares of Insmed in a report on Monday, March 16th. They issued a "buy" rating and a $228.00 target price on the stock. HC Wainwright restated a "buy" rating on shares of Insmed in a report on Friday, May 8th. Truist Financial reduced their target price on shares of Insmed from $205.00 to $185.00 and set a "buy" rating on the stock in a report on Wednesday, May 13th. Bank of America boosted their target price on shares of Insmed from $211.00 to $213.00 and gave the stock a "buy" rating in a report on Tuesday, March 24th. Finally, Mizuho boosted their target price on shares of Insmed from $204.00 to $206.00 and gave the stock an "outperform" rating in a report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Insmed presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.95.

Insmed Stock Performance

Shares of NASDAQ:INSM opened at $107.91 on Thursday. The company has a market capitalization of $23.39 billion, a price-to-earnings ratio of -18.77 and a beta of 0.89. Insmed, Inc. has a 12 month low of $64.85 and a 12 month high of $212.75. The firm's 50-day moving average is $139.24 and its 200 day moving average is $161.82. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. The company had revenue of $305.96 million for the quarter, compared to the consensus estimate 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 was up 229.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.42) EPS. Research analysts predict that Insmed, Inc. will post -2.52 EPS for the current year.

Insider Activity at Insmed

In related news, CEO William Lewis sold 10,699 shares of the company's stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $143.97, for a total transaction of $1,540,335.03. Following the transaction, the chief executive officer directly owned 301,185 shares in the company, valued at approximately $43,361,604.45. This represents a 3.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 88,060 shares of the business's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total transaction of $14,497,317.80. Following the completion of the sale, the chief operating officer directly owned 106,810 shares of the company's stock, valued at approximately $17,584,130.30. This trade represents a 45.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 150,494 shares of company stock worth $23,846,784. Insiders own 2.10% of the company's stock.

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.

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