Evergreen Quality Fund GP Ltd. Takes Position in Insmed, Inc. $INSM

Key Points

• Evergreen Quality Fund GP Ltd. opened a new position in Insmed during the fourth quarter, buying 120,500 shares valued at about $20.97 million. The stake accounted for 0.4% of the fund’s portfolio and 0.06% of Insmed’s outstanding shares.
• Insmed reported quarterly revenue of $305.96 million, topping expectations and rising 229.7% from a year earlier. The company also beat EPS estimates, posting ($0.76) versus the consensus of ($0.90).
• Analyst sentiment remains mostly positive, with a Moderate Buy consensus and an average price target of $211.86, though some firms have trimmed targets or kept bearish ratings. Meanwhile, insiders have sold shares in recent months, including CEO William Lewis and other executives.

Evergreen Quality Fund GP Ltd. acquired a new position in Insmed, Inc. (NASDAQ:INSM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 120,500 shares of the biopharmaceutical company's stock, valued at approximately $20,972,000. Insmed comprises 0.4% of Evergreen Quality Fund GP Ltd.'s portfolio, making the stock its 25th largest position. Evergreen Quality Fund GP Ltd. owned about 0.06% of Insmed at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Insmed by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company's stock worth $3,668,127,000 after purchasing an additional 1,140,524 shares in the last quarter. Darwin Global Management Ltd. boosted its position in shares of Insmed by 2.3% during the fourth quarter. Darwin Global Management Ltd. now owns 20,933,277 shares of the biopharmaceutical company's stock valued at $3,644,274,000 after buying an additional 475,832 shares during the last quarter. Capital International Investors boosted its position in shares of Insmed by 1.0% during 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 buying an additional 74,994 shares during the last quarter. State Street Corp increased its holdings in Insmed by 30.6% in the 4th quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company's stock worth $905,312,000 after buying an additional 1,217,390 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased 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 worth $711,076,000 after buying an additional 1,623,342 shares in the last quarter.

Insmed Trading Up 3.1%

Shares of INSM stock opened at $98.45 on Thursday. 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 company has a market cap of $21.34 billion, a price-to-earnings ratio of -17.12 and a beta of 0.79. Insmed, Inc. has a 1 year low of $90.39 and a 1 year high of $212.75. The firm has a fifty day moving average price of $120.61 and a 200-day moving average price of $148.61.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) 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 company had revenue of $305.96 million for the quarter, compared to analysts' expectations of $300.81 million. During the same period last year, the firm earned ($1.42) EPS. Insmed's revenue for the quarter was up 229.7% compared to the same quarter last year. As a group, equities analysts predict that Insmed, Inc. will post -2.54 earnings per share for the current year.

Analysts Set New Price Targets

INSM has been the topic of several research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Insmed in a report on Tuesday, April 21st. 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 report on Monday, March 30th. Guggenheim dropped their price target on Insmed from $230.00 to $226.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. JPMorgan Chase & Co. reduced their price objective on Insmed from $180.00 to $179.00 and set an "overweight" rating for the company in a research report on Monday, June 8th. Finally, Royal Bank Of Canada dropped their target price on Insmed from $205.00 to $195.00 and set an "outperform" rating on the stock in a research report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Insmed currently has an average rating of "Moderate Buy" and a consensus target price of $211.86.

Insiders Place Their Bets

In other Insmed news, CEO William Lewis sold 10,699 shares of the company's stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $143.97, for a total value of $1,540,335.03. Following the completion of the transaction, the chief executive officer directly owned 301,185 shares in the company, valued at $43,361,604.45. This represents a 3.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Alexander Smith sold 19,638 shares of the stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $150.98, for a total transaction of $2,964,945.24. Following the sale, the insider directly owned 51,871 shares of the company's stock, valued at approximately $7,831,483.58. This trade represents a 27.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 149,783 shares of company stock valued at $22,902,672 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

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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