Headlands Technologies LLC Purchases 38,047 Shares of Insmed, Inc. $INSM

Key Points

• Headlands Technologies increased its Insmed stake by 1,355% in the second quarter, purchasing 38,047 additional shares and bringing its holdings to 40,855 shares valued at approximately $4.36 million.
• Insmed reported stronger-than-expected quarterly results, with revenue of $425.49 million—up 296.1% year over year—and an adjusted loss of $0.06 per share versus the consensus loss estimate of $0.67.
• Wall Street maintained a broadly positive outlook, with the stock receiving an average “Buy” rating and a $205.52 price target, although insiders sold 288,291 shares worth roughly $37.1 million over the past 90 days.

Headlands Technologies LLC lifted its position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 1,355.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,855 shares of the biopharmaceutical company's stock after purchasing an additional 38,047 shares during the period. Headlands Technologies LLC's holdings in Insmed were worth $4,356,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Quantitative Investment Management LLC grew its holdings in Insmed by 11.1% during the 2nd quarter. Quantitative Investment Management LLC now owns 15,894 shares of the biopharmaceutical company's stock worth $1,694,000 after acquiring an additional 1,589 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Insmed by 36.3% in the second quarter. Wellington Management Group LLP now owns 543,893 shares of the biopharmaceutical company's stock worth $57,990,000 after purchasing an additional 144,849 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Insmed in the second quarter worth $6,520,000. Bank of New York Mellon Corp acquired a new stake in Insmed in the second quarter valued at $139,966,000. Finally, S&CO Inc. bought a new position in Insmed during the 2nd quarter worth $1,386,000.

Insmed Stock Performance

INSM opened at $118.54 on Monday. The company has a fifty day moving average price of $113.64 and a two-hundred day moving average price of $125.88. Insmed, Inc. has a 1-year low of $90.39 and a 1-year high of $212.75. The company has a market cap of $25.89 billion, a P/E ratio of -28.84 and a beta of 0.81. The company has a current ratio of 3.72, a quick ratio of 3.40 and a debt-to-equity ratio of 0.74.

Insmed (NASDAQ:INSM - Get Free Report) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.61. Insmed had a negative return on equity of 123.94% and a negative net margin of 76.94%.The company had revenue of $425.49 million during the quarter, compared to the consensus estimate of $395.50 million. During the same period last year, the business posted ($1.70) EPS. The firm's revenue for the quarter was up 296.1% compared to the same quarter last year. Analysts predict that Insmed, Inc. will post -1.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on INSM shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $175.00 target price on shares of Insmed in a report on Thursday, August 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Insmed in a report on Friday, July 17th. Guggenheim decreased their target price on shares of Insmed from $207.00 to $205.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Truist Financial restated a "buy" rating and set a $195.00 price target (up from $185.00) on shares of Insmed in a report on Monday, August 10th. Finally, UBS Group reaffirmed a "buy" rating and issued a $172.00 price objective on shares of Insmed in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $205.52.

Insider Transactions at Insmed

In related news, COO Roger Adsett sold 239,850 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $133.27, for a total value of $31,964,809.50. Following the transaction, the chief operating officer directly owned 98,744 shares in the company, valued at $13,159,612.88. This trade represents a 70.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Lewis sold 10,699 shares of Insmed stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $117.40, for a total transaction of $1,256,062.60. Following the completion of the sale, the chief executive officer directly owned 259,058 shares of the company's stock, valued at approximately $30,413,409.20. The trade was a 3.97% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 288,291 shares of company stock worth $37,091,566. 2.10% of the stock is currently owned by insiders.

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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