Oak Ridge Investments LLC Trims Position in Insmed, Inc. $INSM

Key Points

• Oak Ridge Investments LLC cut its stake in Insmed by 37.6% in Q4, selling 8,323 shares and finishing with 13,813 shares valued at about $2.404 million.
• Significant insider selling has occurred recently: COO Roger Adsett sold 88,060 shares (~$14.5M) and CEO William Lewis sold 10,699 shares (~$1.75M), with insiders offloading 179,777 shares (~$28.4M) in the past three months and now owning 2.10% of the company.
• Large institutions (e.g., Darwin Global, Vanguard, Artisan) hold substantial stakes, analysts have a consensus Buy rating with an average price target of $212.09, while the stock trades around $151 after a recent quarterly EPS miss (‑$1.54 vs. ‑$1.07 expected).

Oak Ridge Investments LLC lessened its stake in Insmed, Inc. (NASDAQ:INSM - Free Report) by 37.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,813 shares of the biopharmaceutical company's stock after selling 8,323 shares during the period. Oak Ridge Investments LLC's holdings in Insmed were worth $2,404,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Darwin Global Management Ltd. lifted its stake in Insmed by 5.8% during the 3rd quarter. Darwin Global Management Ltd. now owns 20,457,445 shares of the biopharmaceutical company's stock valued at $2,897,797,000 after acquiring an additional 1,112,824 shares during the period. Vanguard Group Inc. grew its holdings in shares of Insmed by 13.0% during the third quarter. Vanguard Group Inc. now owns 19,935,820 shares of the biopharmaceutical company's stock worth $2,870,957,000 after buying an additional 2,291,328 shares in the last quarter. Capital International Investors grew its holdings in shares of Insmed by 1.0% during the third quarter. Capital International Investors now owns 7,553,853 shares of the biopharmaceutical company's stock worth $1,087,830,000 after buying an additional 74,994 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Insmed by 49.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company's stock valued at $711,076,000 after acquiring an additional 1,623,342 shares during the last quarter. Finally, Duquesne Family Office LLC boosted its position in shares of Insmed by 3.0% during the 3rd quarter. Duquesne Family Office LLC now owns 2,423,435 shares of the biopharmaceutical company's stock valued at $348,999,000 after acquiring an additional 70,000 shares during the last quarter.

Insider Buying and Selling

In other news, COO Roger Adsett sold 88,060 shares of the company's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $164.63, for a total transaction of $14,497,317.80. Following the completion of the sale, the chief operating officer directly owned 106,810 shares of the company's stock, valued at $17,584,130.30. This represents a 45.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William Lewis sold 10,699 shares of the company's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $163.22, for a total value of $1,746,290.78. Following the sale, the chief executive officer directly owned 301,185 shares of the company's stock, valued at approximately $49,159,415.70. This represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 179,777 shares of company stock valued at $28,412,777. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

INSM has been the topic of a number of recent analyst reports. Guggenheim decreased their target price on shares of Insmed from $230.00 to $221.00 and set a "buy" rating on the stock in a research report on Thursday, December 18th. The Goldman Sachs Group increased their price target on shares of Insmed from $225.00 to $258.00 and gave the stock a "buy" rating in a research report on Monday, December 15th. TD Cowen set a $241.00 price target on shares of Insmed in a research report on Thursday, December 18th. Barclays increased their price target on shares of Insmed from $231.00 to $237.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 1st. Finally, Leerink Partners increased their price target on shares of Insmed from $210.00 to $215.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $212.09.

Insmed Trading Down 2.4%

NASDAQ:INSM opened at $151.14 on Tuesday. The company has a market capitalization of $32.62 billion, a PE ratio of -23.58 and a beta of 1.10. The stock has a fifty day simple moving average of $150.42 and a 200-day simple moving average of $167.49. Insmed, Inc. has a 52-week low of $63.81 and a 52-week high of $212.75. The company has a quick ratio of 3.54, a current ratio of 3.83 and a debt-to-equity ratio of 0.76.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.54) EPS for the quarter, missing analysts' consensus estimates of ($1.07) by ($0.47). Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The company had revenue of $263.84 million for the quarter, compared to analysts' expectations of $263.97 million. During the same quarter in the prior year, the business posted ($1.32) EPS. The company's revenue for the quarter was up 152.6% compared to the same quarter last year. On average, equities research analysts expect that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

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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