Insmed, Inc. $INSM Shares Sold by Los Angeles Capital Management LLC

Key Points

• Los Angeles Capital Management cut its Insmed position by 35.4% in the fourth quarter, selling 45,118 shares and leaving it with 82,385 shares valued at about $14.3 million.
• Insmed reported better-than-expected quarterly results, posting EPS of -$0.76 versus estimates of -$0.90 and revenue of $305.96 million, up 229.7% year over year.
• Despite the strong revenue growth, the stock has been volatile: it recently traded at $94.22, well below its 12-month high of $212.75, while analysts still maintain a Moderate Buy consensus with an average target price of $210.50.

Los Angeles Capital Management LLC reduced its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 35.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 82,385 shares of the biopharmaceutical company's stock after selling 45,118 shares during the quarter. Los Angeles Capital Management LLC's holdings in Insmed were worth $14,338,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Insmed by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company's stock valued at $3,668,127,000 after purchasing an additional 1,140,524 shares during the last quarter. Darwin Global Management Ltd. increased its stake in shares of Insmed by 5.8% in the 3rd quarter. Darwin Global Management Ltd. now owns 20,457,445 shares of the biopharmaceutical company's stock worth $2,897,797,000 after acquiring an additional 1,112,824 shares during the last quarter. Capital International Investors increased its stake in shares of Insmed by 1.0% in the 3rd quarter. Capital International Investors now owns 7,553,853 shares of the biopharmaceutical company's stock worth $1,087,830,000 after acquiring an additional 74,994 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Insmed by 49.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company's stock worth $711,076,000 after acquiring an additional 1,623,342 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Insmed by 14.4% in the 4th quarter. Geode Capital Management LLC now owns 4,299,052 shares of the biopharmaceutical company's stock worth $751,936,000 after acquiring an additional 539,625 shares during the last quarter.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $94.22 on Monday. The business has a 50-day moving average price of $130.45 and a 200 day moving average price of $154.65. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $20.42 billion, a price-to-earnings ratio of -16.39 and a beta of 0.79. Insmed, Inc. has a 12-month low of $70.57 and a 12-month high of $212.75.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.90) by $0.14. The firm had revenue of $305.96 million during the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The company's quarterly revenue was up 229.7% on a year-over-year basis. During the same period last year, the company earned ($1.42) EPS. Sell-side analysts expect that Insmed, Inc. will post -2.56 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on INSM. Leerink Partners raised their target price on Insmed from $210.00 to $215.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 24th. HC Wainwright reaffirmed a "buy" rating on shares of Insmed in a research note on Friday, May 8th. Guggenheim cut their target price on Insmed from $230.00 to $226.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Barclays raised their target price on Insmed from $231.00 to $237.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 1st. Finally, Mizuho raised their target price on Insmed from $204.00 to $206.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $210.50.

Insiders Place Their Bets

In related news, CFO Sara Bonstein sold 2,404 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $245,857.08. Following the completion of the sale, the chief financial officer directly owned 69,082 shares of the company's stock, valued at approximately $7,065,016.14. This trade represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Alexander Smith sold 2,159 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $220,800.93. Following the sale, the insider directly owned 39,454 shares of the company's stock, valued at $4,034,960.58. The trade was a 5.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 160,482 shares of company stock valued at $24,438,193 over the last 90 days. Company insiders own 2.10% of the company's stock.

About Insmed

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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