Insmed, Inc. $INSM Shares Sold by Palo Alto Investors LP

Key Points

• Palo Alto Investors LP has reduced its stake in Insmed, Inc. by 38.4%, holding approximately 14.3% of its portfolio in the biopharmaceutical company after selling over 616,000 shares.
• Several analysts have upgraded their target prices on Insmed shares, with Bank of America setting it at $109.00 and Jefferies Financial Group at $148.00, contributing to a consensus rating of "Moderate Buy".
• Insmed reported a loss of ($1.70) earnings per share for the last quarter, missing estimates, but saw revenue increase by 18.9% year-over-year to $107.42 million.

Palo Alto Investors LP lowered its position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 38.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 987,153 shares of the biopharmaceutical company's stock after selling 616,312 shares during the quarter. Insmed makes up about 14.3% of Palo Alto Investors LP's investment portfolio, making the stock its largest position. Palo Alto Investors LP owned approximately 0.54% of Insmed worth $75,310,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in INSM. Nuveen LLC bought a new stake in shares of Insmed during the first quarter worth $88,351,000. Brown Advisory Inc. bought a new stake in shares of Insmed during the fourth quarter worth $45,773,000. Duquesne Family Office LLC raised its position in shares of Insmed by 2,867.4% during the fourth quarter. Duquesne Family Office LLC now owns 593,470 shares of the biopharmaceutical company's stock worth $40,973,000 after acquiring an additional 573,470 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in shares of Insmed during the first quarter worth $37,214,000. Finally, Wellington Management Group LLP increased its holdings in Insmed by 62.5% in the first quarter. Wellington Management Group LLP now owns 1,222,627 shares of the biopharmaceutical company's stock valued at $93,274,000 after purchasing an additional 470,401 shares during the last quarter.

Insmed Trading Up 1.8%

Shares of Insmed stock traded up $2.57 during trading hours on Friday, hitting $145.10. The company's stock had a trading volume of 2,532,328 shares, compared to its average volume of 2,879,069. Insmed, Inc. has a 12 month low of $60.40 and a 12 month high of $146.84. The stock has a 50 day moving average of $114.64 and a 200 day moving average of $89.74. The company has a market capitalization of $30.67 billion, a PE ratio of -25.41 and a beta of 0.96. 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 (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.30) by ($0.40). Insmed had a negative return on equity of 195.37% and a negative net margin of 259.82%.The business had revenue of $107.42 million during the quarter, compared to the consensus estimate of $104.06 million. During the same quarter last year, the company earned ($1.94) earnings per share. The firm's revenue was up 18.9% compared to the same quarter last year. Insmed has set its FY 2025 guidance at EPS. Analysts predict that Insmed, Inc. will post -4.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Mizuho upped their price objective on Insmed from $130.00 to $165.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. William Blair assumed coverage on Insmed in a report on Wednesday, August 20th. They issued an "outperform" rating for the company. Truist Financial upped their price objective on Insmed from $126.00 to $139.00 and gave the company a "buy" rating in a report on Thursday, August 14th. JPMorgan Chase & Co. upped their price objective on Insmed from $111.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Finally, Jefferies Financial Group upped their price objective on Insmed from $129.00 to $148.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Sixteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $134.79.

Insider Buying and Selling

In other news, COO Roger Adsett sold 25,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $127.58, for a total transaction of $3,189,500.00. Following the completion of the transaction, the chief operating officer directly owned 105,637 shares of the company's stock, valued at $13,477,168.46. This represents a 19.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Alexander Smith sold 24,272 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $143.89, for a total value of $3,492,498.08. Following the transaction, the insider directly owned 54,902 shares of the company's stock, valued at $7,899,848.78. This represents a 30.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 535,320 shares of company stock valued at $54,581,793. 3.00% of the stock is owned by company insiders.

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.