Goldman Sachs Group Inc. Sells 352,728 Shares of Insmed, Inc. $INSM

Key Points

• Goldman Sachs Group Inc. reduced its holdings in Insmed, Inc. by 20.1%, selling 352,728 shares and holding approximately $107 million worth of the company by the end of Q1.
• Insmed has seen significant interest from other institutional investors, including Teachers Retirement System, which acquired a new position worth $975,000 in the same quarter.
• Wall Street analysts are optimistic, with 16 out of 17 analysts assigning a Buy rating, and target price estimates rising substantially from $94 to $171 over recent months.

Goldman Sachs Group Inc. cut its holdings in Insmed, Inc. (NASDAQ:INSM - Free Report) by 20.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,402,621 shares of the biopharmaceutical company's stock after selling 352,728 shares during the period. Goldman Sachs Group Inc. owned approximately 0.74% of Insmed worth $107,006,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky acquired a new position in Insmed during the 1st quarter worth $975,000. OneDigital Investment Advisors LLC lifted its position in Insmed by 47.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 5,226 shares of the biopharmaceutical company's stock worth $399,000 after acquiring an additional 1,673 shares during the last quarter. Sowell Financial Services LLC acquired a new position in Insmed during the 1st quarter worth $255,000. GAMMA Investing LLC lifted its position in Insmed by 62.0% during the 1st quarter. GAMMA Investing LLC now owns 1,009 shares of the biopharmaceutical company's stock worth $77,000 after acquiring an additional 386 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP acquired a new position in Insmed during the 1st quarter worth $34,434,000.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on INSM shares. Morgan Stanley boosted their target price on shares of Insmed from $126.00 to $144.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 21st. Wells Fargo & Company boosted their target price on shares of Insmed from $140.00 to $171.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. William Blair initiated coverage on shares of Insmed in a research report on Wednesday, August 20th. They set an "outperform" rating for the company. Bank of America upped their price objective on shares of Insmed from $94.00 to $109.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Finally, Jefferies Financial Group upped their price objective on shares of Insmed from $129.00 to $148.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Sixteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $139.86.

Insmed Stock Performance

NASDAQ:INSM opened at $145.93 on Friday. Insmed, Inc. has a 12-month low of $60.40 and a 12-month high of $149.08. The company has a quick ratio of 6.33, a current ratio of 6.68 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $30.85 billion, a PE ratio of -25.56 and a beta of 0.97. The firm has a 50-day moving average price of $119.40 and a 200 day moving average price of $91.91.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.30) by ($0.40). Insmed had a negative return on equity of 195.37% and a negative net margin of 259.82%.The business had revenue of $107.42 million during the quarter, compared to analyst estimates of $104.06 million. During the same period last year, the company earned ($1.94) EPS. The business's revenue for the quarter was up 18.9% on a year-over-year basis. Insmed has set its FY 2025 guidance at EPS. Research analysts anticipate that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Insider Transactions at Insmed

In related news, CEO William Lewis sold 129,805 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $100.39, for a total value of $13,031,123.95. Following the completion of the transaction, the chief executive officer owned 233,924 shares of the company's stock, valued at $23,483,630.36. This represents a 35.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Melvin Md Sharoky sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $129.50, for a total transaction of $1,295,000.00. Following the sale, the director directly owned 274,516 shares of the company's stock, valued at approximately $35,549,822. The trade was a 3.51% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 378,382 shares of company stock valued at $40,169,038. Corporate insiders own 3.00% of the company's stock.

Insmed Company Profile

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed's first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.

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