Wellington Management Group LLP Raises Position in Insmed, Inc. $INSM

Key Points

• Wellington Management Group LLP increased its stake in Insmed, Inc. by 62.5%, holding approximately 1.22 million shares worth $93.27 million at the latest reporting period.
• Several investment analysts have raised their target price for Insmed, with Royal Bank of Canada and Goldman Sachs setting targets of $120.00 and $142.00 respectively, reflecting a strong overall positive outlook for the stock.
• In its latest earnings report, Insmed posted revenues of $107.42 million, surpassing analyst expectations, but reported earnings per share of ($1.70), which missed estimates by $0.40.

Wellington Management Group LLP raised its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 62.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,222,627 shares of the biopharmaceutical company's stock after buying an additional 470,401 shares during the period. Wellington Management Group LLP owned 0.67% of Insmed worth $93,274,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of INSM. Cullen Frost Bankers Inc. increased its stake in shares of Insmed by 164.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 221 shares during the last quarter. Elequin Capital LP purchased a new stake in shares of Insmed during the 4th quarter worth approximately $28,000. NBC Securities Inc. purchased a new stake in shares of Insmed during the 1st quarter worth approximately $49,000. Versant Capital Management Inc increased its stake in shares of Insmed by 546.3% during the 1st quarter. Versant Capital Management Inc now owns 698 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 590 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of Insmed by 60.0% during the 1st quarter. Signaturefd LLC now owns 867 shares of the biopharmaceutical company's stock worth $66,000 after purchasing an additional 325 shares during the last quarter.

Insider Activity at Insmed

In other news, Director Melvin Md Sharoky sold 10,000 shares of Insmed stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $129.50, for a total transaction of $1,295,000.00. Following the completion of the sale, the director directly owned 274,516 shares of the company's stock, valued at approximately $35,549,822. The trade was a 3.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Alexander Smith sold 933 shares of Insmed stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $102.51, for a total transaction of $95,641.83. Following the sale, the insider directly owned 66,394 shares of the company's stock, valued at $6,806,048.94. This represents a 1.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 539,694 shares of company stock worth $53,144,604 in the last three months. 3.00% of the stock is owned by insiders.

Insmed Price Performance

NASDAQ:INSM traded up $1.28 during trading hours on Wednesday, hitting $133.45. The stock had a trading volume of 574,193 shares, compared to its average volume of 2,800,405. The company has a 50 day simple moving average of $108.65 and a two-hundred day simple moving average of $86.38. 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, Inc. has a one year low of $60.40 and a one year high of $133.56. The firm has a market capitalization of $28.21 billion, a price-to-earnings ratio of -23.37 and a beta of 0.95.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.30) by ($0.40). Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The firm had revenue of $107.42 million during the quarter, compared to the consensus estimate of $104.06 million. During the same period in the previous year, the business earned ($1.94) earnings per share. The firm's revenue for the quarter was up 18.9% on a year-over-year basis. Insmed has set its FY 2025 guidance at EPS. Research analysts forecast that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on INSM. Stifel Nicolaus raised their price target 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. Wells Fargo & Company raised their price objective on shares of Insmed from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. raised their price objective on shares of Insmed from $111.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Morgan Stanley raised their price objective on shares of Insmed from $126.00 to $144.00 and gave the stock an "equal weight" rating in a report on Thursday, August 21st. Finally, Citigroup raised shares of Insmed to a "buy" rating in a report on Tuesday, June 10th. Sixteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $132.57.

About Insmed

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.