Insmed, Inc. $INSM Shares Sold by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company cut its Insmed stake by 38.8% in the first quarter, selling 46,151 shares and retaining 72,696 shares valued at approximately $11.9 million. Other institutions showed mixed activity, with several increasing or initiating positions.
• Insmed reported quarterly revenue of $305.96 million, up 229.7% year over year, and an adjusted loss of $0.76 per share that beat analyst expectations. However, the company remains unprofitable, with a negative net margin of 144.44%.
• Insiders sold $5.79 million worth of shares during the last quarter, including sales by the CEO and CFO. Wall Street’s overall view remains positive, with a consensus “Buy” rating and an average price target of $209.35 versus the reported share price of $98.60.

The Manufacturers Life Insurance Company cut its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 38.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,696 shares of the biopharmaceutical company's stock after selling 46,151 shares during the period. The Manufacturers Life Insurance Company's holdings in Insmed were worth $11,887,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of INSM. Quantinno Capital Management LP boosted its position in shares of Insmed by 81.9% during the 1st quarter. Quantinno Capital Management LP now owns 35,552 shares of the biopharmaceutical company's stock worth $5,814,000 after acquiring an additional 16,011 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of Insmed in the 1st quarter valued at about $360,000. Lombard Odier Asset Management Switzerland SA acquired a new stake in shares of Insmed during the 1st quarter worth about $720,000. Affinity Asset Advisors LLC lifted its stake in Insmed by 6.7% during the first quarter. Affinity Asset Advisors LLC now owns 480,000 shares of the biopharmaceutical company's stock worth $78,490,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in Insmed during the first quarter worth approximately $708,000.

Insiders Place Their Bets

In other news, CFO Sara Bonstein sold 2,404 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value 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 $7,065,016.14. This trade represents a 3.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 10,699 shares of Insmed stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $117.40, for a total value of $1,256,062.60. Following the completion of the sale, the chief executive officer owned 259,058 shares in the company, valued at approximately $30,413,409.20. This trade represents a 3.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 54,590 shares of company stock worth $5,793,738 over the last quarter. 2.10% of the stock is owned by company insiders.

Insmed Stock Performance

Shares of INSM opened at $98.60 on Monday. The company's 50 day simple moving average is $104.68 and its 200-day simple moving average is $130.76. The firm has a market cap of $21.37 billion, a PE ratio of -17.15 and a beta of 0.81. Insmed, Inc. has a 12-month low of $90.39 and a 12-month high of $212.75. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate 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 net margin of 144.44% and a negative return on equity of 130.11%. Insmed's revenue for the quarter was up 229.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.42) EPS. As a group, equities analysts predict that Insmed, Inc. will post -2.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Raymond James Financial assumed coverage on shares of Insmed in a report on Friday, April 10th. They set an "outperform" rating and a $200.00 price objective on the stock. Guggenheim reaffirmed a "buy" rating and issued a $207.00 target price on shares of Insmed in a research report on Friday, July 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Insmed in a research note on Friday, July 17th. Roth Capital reissued a "buy" rating on shares of Insmed in a research report on Monday, June 8th. Finally, Wells Fargo & Company upped their price objective on shares of Insmed from $160.00 to $161.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Two research analysts have 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. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $209.35.

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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