Westfield Capital Management Co. LP Sells 55,406 Shares of Insmed, Inc. $INSM

Key Points

• Westfield Capital Management cut its Insmed stake by 11.4% in the fourth quarter, selling 55,406 shares and leaving it with 432,521 shares valued at about $75.3 million.
• Insider selling has been active, with CEO William Lewis and COO Roger Adsett both selling shares in recent transactions; insiders sold 145,944 shares worth about $23.0 million over the last 90 days.
• Insmed posted a strong quarter, beating EPS and revenue expectations as revenue jumped 229.7% year over year, while analysts still maintain a consensus “Moderate Buy” rating with a target price around $210.95.

Westfield Capital Management Co. LP lessened its stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 11.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 432,521 shares of the biopharmaceutical company's stock after selling 55,406 shares during the period. Westfield Capital Management Co. LP owned 0.20% of Insmed worth $75,276,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Insmed by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company's stock valued at $3,668,127,000 after purchasing an additional 1,140,524 shares during the period. Darwin Global Management Ltd. grew its holdings in Insmed by 5.8% during the third quarter. Darwin Global Management Ltd. now owns 20,457,445 shares of the biopharmaceutical company's stock valued at $2,897,797,000 after purchasing an additional 1,112,824 shares during the period. Capital International Investors grew its holdings in Insmed by 1.0% during the third quarter. Capital International Investors now owns 7,553,853 shares of the biopharmaceutical company's stock valued at $1,087,830,000 after purchasing an additional 74,994 shares during the period. Artisan Partners Limited Partnership grew its holdings in Insmed by 49.0% during the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company's stock valued at $711,076,000 after purchasing an additional 1,623,342 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Insmed by 14.4% during the fourth quarter. Geode Capital Management LLC now owns 4,299,052 shares of the biopharmaceutical company's stock valued at $751,936,000 after purchasing an additional 539,625 shares during the period.

Insider Activity at Insmed

In related news, CEO William Lewis sold 10,699 shares of the firm's stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $143.97, for a total value of $1,540,335.03. Following the completion of the transaction, the chief executive officer directly owned 301,185 shares of the company's stock, valued at approximately $43,361,604.45. This trade represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 88,060 shares of the firm's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total transaction of $14,497,317.80. Following the completion of the transaction, the chief operating officer directly owned 106,810 shares of the company's stock, valued at approximately $17,584,130.30. This trade represents a 45.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 145,944 shares of company stock valued at $22,951,391. 2.10% of the stock is owned by corporate insiders.

Insmed Price Performance

Shares of Insmed stock opened at $104.92 on Friday. The firm has a market cap of $22.74 billion, a PE ratio of -18.25 and a beta of 0.79. The stock has a 50 day moving average of $131.53 and a 200 day moving average of $155.38. 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, Inc. has a 12 month low of $70.57 and a 12 month high of $212.75.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.14. The business had revenue of $305.96 million for the quarter, compared to analysts' expectations of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The company's revenue for the quarter was up 229.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.42) EPS. On average, research analysts expect that Insmed, Inc. will post -2.56 EPS for the current fiscal year.

Analyst Ratings Changes

INSM has been the subject of a number of recent analyst reports. Bank of America upped their price objective on Insmed from $211.00 to $213.00 and gave the stock a "buy" rating in a research note on Tuesday, March 24th. Mizuho upped their price objective on Insmed from $204.00 to $206.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 25th. Guggenheim dropped their price objective on Insmed from $230.00 to $226.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Raymond James Financial initiated coverage on Insmed in a research note on Friday, April 10th. They issued an "outperform" rating and a $200.00 price objective for the company. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $212.00 price objective on shares of Insmed in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $210.95.

Insmed Company Profile

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.

Want to see what other hedge funds are holding INSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Insmed, Inc. (NASDAQ:INSM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.