Granahan Investment Management LLC Decreases Stock Position in Insmed, Inc. $INSM

Key Points

• Granahan Investment Management LLC has decreased its holdings in Insmed, Inc. by 10.3%, now owning approximately 0.10% of the company with a value of $14.3 million.
• Several other institutional investors, including Vanguard Group and Adage Capital Partners, have increased their stakes in Insmed, reflecting a mixed sentiment in the market.
• Insmed has received numerous upgrades from analysts, with price targets set between $115.00 and $145.00, indicating a generally positive outlook despite recent earnings misses.

Granahan Investment Management LLC trimmed its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 10.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,802 shares of the biopharmaceutical company's stock after selling 21,552 shares during the quarter. Granahan Investment Management LLC owned approximately 0.10% of Insmed worth $14,327,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake 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 valued at $1,393,675,000 after purchasing an additional 49,149 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Insmed by 1.7% in 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 purchasing an additional 219,131 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Insmed by 109.2% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 3,446,944 shares of the biopharmaceutical company's stock valued at $262,967,000 after purchasing an additional 1,799,382 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Insmed by 2.5% in the 1st quarter. Alliancebernstein L.P. now owns 2,423,513 shares of the biopharmaceutical company's stock valued at $184,890,000 after purchasing an additional 59,952 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Insmed by 3.6% in 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 purchasing an additional 56,048 shares in the last quarter.

Insider Buying and Selling at Insmed

In other news, CEO William Lewis sold 6,865 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $128.40, for a total transaction of $881,466.00. Following the sale, the chief executive officer directly owned 233,924 shares of the company's stock, valued at $30,035,841.60. This represents a 2.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sara Bonstein sold 58,400 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $102.67, for a total value of $5,995,928.00. Following the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 378,382 shares of company stock worth $40,169,038. Company insiders own 3.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Insmed from $124.00 to $133.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Citigroup upgraded shares of Insmed to a "buy" rating in a report on Tuesday, June 10th. The Goldman Sachs Group raised their target price on shares of Insmed from $114.00 to $142.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Bank of America raised their target price on shares of Insmed from $94.00 to $109.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Finally, HC Wainwright raised their target price on shares of Insmed from $90.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Sixteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Insmed has an average rating of "Moderate Buy" and a consensus price target of $139.86.

Insmed Stock Performance

Shares of NASDAQ:INSM traded down $2.62 during mid-day trading on Wednesday, reaching $144.58. 476,651 shares of the company traded hands, compared to its average volume of 2,775,043. The company's 50 day moving average price is $116.55 and its 200-day moving average price is $90.60. The firm has a market cap of $30.56 billion, a PE ratio of -25.34 and a beta of 0.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 6.68 and a quick ratio of 6.33. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $149.08.

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

Insmed 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.