Insmed, Inc. $INSM Shares Sold by Goldman Sachs Group Inc.

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

Several other institutional investors and hedge funds have also recently made changes to their positions in INSM. Vanguard Group Inc. raised its position in shares of Insmed by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 18,268,122 shares of the biopharmaceutical company's stock worth $1,393,675,000 after purchasing an additional 49,149 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Insmed by 1.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,923,541 shares of the biopharmaceutical company's stock valued at $985,938,000 after acquiring an additional 219,131 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in shares of Insmed by 109.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 3,446,944 shares of the biopharmaceutical company's stock worth $262,967,000 after acquiring an additional 1,799,382 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Insmed by 2.5% during the 1st quarter. Alliancebernstein L.P. now owns 2,423,513 shares of the biopharmaceutical company's stock worth $184,890,000 after acquiring an additional 59,952 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Insmed by 3.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,602,655 shares of the biopharmaceutical company's stock valued at $122,267,000 after buying an additional 56,048 shares during the period.

Insider Transactions at Insmed

In other Insmed news, CFO Sara Bonstein sold 58,400 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $102.67, for a total transaction of $5,995,928.00. Following the completion of the transaction, the chief financial officer owned 73,505 shares in the company, valued at $7,546,758.35. The trade was a 44.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Alexander Smith sold 24,272 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $143.89, for a total transaction of $3,492,498.08. Following the sale, the insider owned 54,902 shares of the company's stock, valued at approximately $7,899,848.78. This represents a 30.66% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 335,097 shares of company stock valued at $39,721,648. 3.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INSM. Morgan Stanley increased their target price on Insmed from $126.00 to $144.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 21st. William Blair assumed coverage on Insmed in a research note on Wednesday, August 20th. They issued an "outperform" rating on the stock. Citigroup upgraded Insmed to a "buy" rating in a research note on Tuesday, June 10th. Stifel Nicolaus increased their target price on shares of Insmed from $121.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Finally, Guggenheim boosted their price target on shares of Insmed from $125.00 to $172.00 and gave the company a "buy" rating in a report on Monday, September 8th. Sixteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $139.86.

Insmed Price Performance

INSM traded up $1.08 during midday trading on Thursday, hitting $145.86. 1,835,983 shares of the company traded hands, compared to its average volume of 1,991,598. The company has a current ratio of 6.68, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $30.83 billion, a price-to-earnings ratio of -25.54 and a beta of 0.97. Insmed, Inc. has a 52-week low of $60.40 and a 52-week high of $149.08. The business has a 50 day simple moving average of $123.24 and a two-hundred day simple moving average of $93.72.

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 for the quarter, missing the consensus estimate of ($1.30) by ($0.40). The business had revenue of $107.42 million during the quarter, compared to analysts' expectations of $104.06 million. Insmed had a negative return on equity of 195.37% and a negative net margin of 259.82%.The business's quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the business posted ($1.94) earnings per share. Insmed has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

About Insmed

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.