GW&K Investment Management LLC Sells 672,513 Shares of Insmed, Inc. $INSM

Key Points

• GW&K Investment Management cut its stake in Insmed by 52.8% in Q3, selling 672,513 shares and now holds 601,803 shares valued at about $86.7 million.
• Significant insider selling has occurred recently — insiders sold 178,952 shares worth roughly $30.2 million over the past three months, including CEO William Lewis and insider Orlov S. Nicole Schaeffer.
• Insmed missed quarterly EPS (‑$1.54 vs. est. ‑$1.07) while revenue rose 152.6% YoY to $263.8 million, and analysts maintain a consensus Buy rating with a $207.52 price target.

GW&K Investment Management LLC decreased its holdings in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 52.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 601,803 shares of the biopharmaceutical company's stock after selling 672,513 shares during the period. Insmed comprises approximately 0.8% of GW&K Investment Management LLC's holdings, making the stock its 24th largest position. GW&K Investment Management LLC owned about 0.28% of Insmed worth $86,667,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Stone House Investment Management LLC purchased a new position in Insmed during the third quarter valued at $29,000. SBI Securities Co. Ltd. raised its stake in shares of Insmed by 404.9% in the third quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company's stock worth $30,000 after buying an additional 166 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of Insmed by 59.6% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 217 shares of the biopharmaceutical company's stock valued at $31,000 after buying an additional 81 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Insmed by 169.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company's stock valued at $38,000 after buying an additional 151 shares in the last quarter. Finally, AlphaQuest LLC grew its stake in shares of Insmed by 109.5% during the 3rd quarter. AlphaQuest LLC now owns 287 shares of the biopharmaceutical company's stock valued at $41,000 after acquiring an additional 150 shares during the period.

Insider Buying and Selling

In other news, CEO William Lewis sold 19,215 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $169.00, for a total transaction of $3,247,335.00. Following the completion of the transaction, the chief executive officer directly owned 306,891 shares in the company, valued at approximately $51,864,579. This represents a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 87,290 shares of the business's stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $175.20, for a total transaction of $15,293,208.00. Following the completion of the sale, the insider owned 41,754 shares in the company, valued at $7,315,300.80. This represents a 67.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 178,952 shares of company stock valued at $30,222,170. 3.00% of the stock is owned by corporate insiders.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $149.88 on Thursday. The firm has a market cap of $32.31 billion, a price-to-earnings ratio of -23.38 and a beta of 1.13. The firm has a fifty day moving average price of $159.98 and a 200 day moving average price of $165.37. Insmed, Inc. has a fifty-two week low of $60.40 and a fifty-two week high of $212.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.54 and a current ratio of 3.83.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.47). The company had revenue of $263.84 million during the quarter, compared to analysts' expectations of $263.97 million. Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The firm's revenue for the quarter was up 152.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.32) EPS. As a group, sell-side analysts expect that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Insmed from $234.00 to $208.00 and set an "overweight" rating on the stock in a research note on Friday, February 20th. Stifel Nicolaus set a $205.00 price objective on shares of Insmed in a research note on Thursday, February 19th. Bank of America set a $203.00 price objective on shares of Insmed in a research report on Thursday, December 18th. Cantor Fitzgerald upped their target price on shares of Insmed from $216.00 to $230.00 and gave the stock an "overweight" rating in a report on Tuesday, December 16th. Finally, HC Wainwright reiterated a "buy" rating and issued a $230.00 price target on shares of Insmed in a research note on Monday, February 23rd. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Insmed presently has a consensus rating of "Buy" and a consensus price target of $207.52.

Insmed Company Profile

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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