Wellington Management Group LLP Buys 144,849 Shares of Insmed, Inc. $INSM

Key Points

• Wellington Management increased its Insmed stake by 36.3% in the second quarter, adding 144,849 shares to own 543,893 shares valued at approximately $58 million.
• Analyst sentiment remains largely positive, with a consensus “Buy” rating and an average price target of $205.52; recent targets ranged from $175 to $195.
• Insmed reported better-than-expected quarterly results, including a loss of $0.06 per share versus the expected $0.67 loss and revenue of $425.5 million, up 296.1% year over year. Insiders, however, sold 273,753 shares worth roughly $35.6 million during the quarter.

Wellington Management Group LLP boosted its stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 36.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 543,893 shares of the biopharmaceutical company's stock after acquiring an additional 144,849 shares during the quarter. Wellington Management Group LLP owned 0.25% of Insmed worth $57,990,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in shares of Insmed by 65.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company's stock worth $67,000 after purchasing an additional 263 shares in the last quarter. First Trust Advisors LP grew its stake in Insmed by 80.8% during the second quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company's stock worth $4,770,000 after buying an additional 21,176 shares during the last quarter. Baird Financial Group Inc. bought a new stake in Insmed during the second quarter worth about $2,589,000. Amundi increased its holdings in shares of Insmed by 21,194.4% during the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company's stock worth $1,130,000 after buying an additional 11,445 shares in the last quarter. Finally, Natixis acquired a new stake in shares of Insmed during the second quarter worth approximately $1,072,000.

Insider Activity at Insmed

In other news, CEO William Lewis sold 10,699 shares of the business's stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $117.40, for a total transaction of $1,256,062.60. Following the completion of the transaction, the chief executive officer directly owned 259,058 shares in the company, valued at approximately $30,413,409.20. The trade was a 3.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Smith sold 1,806 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $95.82, for a total transaction of $173,050.92. Following the completion of the sale, the insider directly owned 37,648 shares of the company's stock, valued at $3,607,431.36. The trade was a 4.58% decrease in their position. 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. Over the last quarter, insiders sold 273,753 shares of company stock worth $35,604,764. 2.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on INSM shares. Roth Capital reissued a "buy" rating on shares of Insmed in a report on Monday, June 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Insmed in a research report on Friday, July 17th. JPMorgan Chase & Co. decreased their target price on Insmed from $179.00 to $175.00 and set an "overweight" rating on the stock in a report on Monday, August 10th. BMO Capital Markets started coverage on Insmed in a research note on Monday, July 20th. They issued an "outperform" rating and a $192.00 target price for the company. Finally, Truist Financial reaffirmed a "buy" rating and issued a $195.00 price target (up from $185.00) on shares of Insmed in a report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $205.52.

Insmed Trading Up 0.0%

INSM opened at $126.68 on Friday. The firm has a 50 day simple moving average of $115.40 and a 200 day simple moving average of $125.21. Insmed, Inc. has a fifty-two week low of $90.39 and a fifty-two week high of $212.75. The company has a market cap of $27.66 billion, a price-to-earnings ratio of -30.82 and a beta of 0.82. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.72 and a quick ratio of 3.40.

Insmed (NASDAQ:INSM - Get Free Report) last released its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.67) by $0.61. The firm had revenue of $425.49 million during the quarter, compared to analyst estimates of $395.50 million. Insmed had a negative net margin of 76.94% and a negative return on equity of 123.94%. The business's quarterly revenue was up 296.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.70) EPS. On average, sell-side analysts anticipate that Insmed, Inc. will post -1.83 earnings per share for the current 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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