Insmed, Inc. $INSM Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. has reduced its stake in Insmed, Inc. by 25.5%, selling 505,759 shares and leaving it with 1,476,948 shares valued at $112,677,000.
• Insmed's recent earnings report showed a loss of ($1.70) per share, falling short of analyst expectations, although revenue increased by 18.9% year-over-year to $107.42 million.
• An increase in target share prices was noted from several analysts, with JPMorgan raising its target from $111.00 to $135.00 and Jefferies raising it to $148.00, indicating sustained confidence in Insmed's performance.

T. Rowe Price Investment Management Inc. reduced its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 25.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,476,948 shares of the biopharmaceutical company's stock after selling 505,759 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 0.81% of Insmed worth $112,677,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. M&T Bank Corp lifted its position in shares of Insmed by 4.7% during the first quarter. M&T Bank Corp now owns 3,293 shares of the biopharmaceutical company's stock valued at $252,000 after purchasing an additional 147 shares in the last quarter. Snowden Capital Advisors LLC grew its stake in Insmed by 2.5% in the 4th quarter. Snowden Capital Advisors LLC now owns 6,602 shares of the biopharmaceutical company's stock worth $456,000 after buying an additional 158 shares in the last quarter. Cullen Frost Bankers Inc. grew its stake in Insmed by 164.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 221 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Insmed by 6.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,761 shares of the biopharmaceutical company's stock valued at $287,000 after buying an additional 228 shares during the last quarter. Finally, Parkman Healthcare Partners LLC raised its holdings in Insmed by 0.7% in the 4th quarter. Parkman Healthcare Partners LLC now owns 35,668 shares of the biopharmaceutical company's stock worth $2,463,000 after purchasing an additional 235 shares in the last quarter.

Analyst Ratings Changes

INSM has been the topic of a number of recent analyst reports. HC Wainwright raised their price target on shares of Insmed from $90.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Stifel Nicolaus increased their price objective on shares of Insmed from $121.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Jefferies Financial Group raised their target price on shares of Insmed from $129.00 to $148.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. William Blair initiated coverage on shares of Insmed in a report on Wednesday, August 20th. They set an "outperform" rating for the company. Finally, Bank of America increased their price objective on shares of Insmed from $94.00 to $109.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Sixteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $132.57.

Insider Activity at Insmed

In other news, CEO William Lewis sold 129,805 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $100.39, for a total transaction of $13,031,123.95. Following the completion of the transaction, the chief executive officer directly owned 233,924 shares of the company's stock, valued at $23,483,630.36. This represents a 35.69% 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, COO Roger Adsett sold 25,000 shares of Insmed stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $127.58, for a total value of $3,189,500.00. Following the sale, the chief operating officer directly owned 105,637 shares of the company's stock, valued at approximately $13,477,168.46. The trade was a 19.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 539,694 shares of company stock worth $53,144,604 in the last quarter. Company insiders own 3.00% of the company's stock.

Insmed Stock Up 0.5%

Shares of INSM traded up $0.68 during midday trading on Wednesday, hitting $132.85. The company had a trading volume of 640,961 shares, compared to its average volume of 2,800,801. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.33 and a current ratio of 6.68. Insmed, Inc. has a 1 year low of $60.40 and a 1 year high of $133.56. The firm has a market capitalization of $28.08 billion, a P/E ratio of -23.40 and a beta of 0.95. The company's 50-day simple moving average is $108.65 and its 200-day simple moving average is $86.38.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $107.42 million for the quarter, compared to analyst estimates of $104.06 million. Insmed had a negative return on equity of 195.37% and a negative net margin of 259.82%.The business's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.94) earnings per share. Insmed has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Insmed, Inc. will post -4.56 EPS for the current year.

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.