Insmed, Inc. $INSM Shares Purchased by Geode Capital Management LLC

Key Points

• Geode Capital Management boosted its Insmed stake by 14.4% in the fourth quarter, adding 539,625 shares and bringing its total to 4.3 million shares worth about $751.9 million.
• Wall Street remains mostly positive on Insmed, with several analysts raising price targets and the consensus rating sitting at Moderate Buy with an average target price of $210.95.
• Insmed reported quarterly earnings that beat expectations, posting a smaller-than-expected loss and 229.7% year-over-year revenue growth, though insiders also sold shares in recent months.

Geode Capital Management LLC increased its holdings in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 14.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,299,052 shares of the biopharmaceutical company's stock after acquiring an additional 539,625 shares during the period. Geode Capital Management LLC owned approximately 2.02% of Insmed worth $751,936,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of INSM. CIBC Private Wealth Group LLC grew its position in shares of Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock valued at $26,000 after acquiring an additional 53 shares during the period. CoreCap Advisors LLC acquired a new stake in shares of Insmed during the 4th quarter valued at about $27,000. SBI Securities Co. Ltd. grew its position in shares of Insmed by 404.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company's stock valued at $30,000 after acquiring an additional 166 shares during the period. GraniteShares Advisors LLC acquired a new stake in shares of Insmed during the 4th quarter valued at about $30,000. Finally, RiverPark Advisors LLC acquired a new stake in shares of Insmed during the 3rd quarter valued at about $38,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Morgan Stanley upgraded Insmed from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $166.00 to $212.00 in a research report on Monday, March 30th. Stifel Nicolaus raised their price target on shares of Insmed from $205.00 to $208.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. Bank of America raised their price target on shares of Insmed from $211.00 to $213.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Insmed in a research note on Tuesday, April 21st. Finally, Truist Financial decreased their price target on shares of Insmed from $205.00 to $185.00 and set a "buy" rating on the stock in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $210.95.

Insmed Trading Down 1.3%

INSM opened at $106.91 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The company's 50 day simple moving average is $134.42 and its two-hundred day simple moving average is $158.11. Insmed, Inc. has a 1-year low of $65.56 and a 1-year high of $212.75. The firm has a market capitalization of $23.17 billion, a price-to-earnings ratio of -18.59 and a beta of 0.89.

Insmed (NASDAQ:INSM - Get Free Report) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping analysts' consensus estimates of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same period last year, the company posted ($1.42) EPS. The business's revenue was up 229.7% on a year-over-year basis. Analysts expect that Insmed, Inc. will post -2.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other Insmed news, CEO William Lewis sold 10,699 shares of the firm's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $143.52, for a total value of $1,535,520.48. Following the transaction, the chief executive officer directly owned 301,185 shares of the company's stock, valued at $43,226,071.20. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Alexander Smith sold 19,638 shares of the firm's stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $150.98, for a total transaction of $2,964,945.24. Following the completion of the transaction, the insider directly owned 51,871 shares in the company, valued at $7,831,483.58. This trade represents a 27.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 156,643 shares of company stock valued at $24,513,766 in the last ninety days. 2.10% of the stock is currently owned by corporate 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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