William Blair Investment Management LLC Sells 333,961 Shares of Insmed, Inc. $INSM

Key Points

• William Blair Investment Management cut its Insmed stake by 21.5% in the fourth quarter, selling 333,961 shares and leaving it with 1,221,096 shares worth about $212.5 million.
• Insmed reported a smaller-than-expected quarterly loss of ($0.76) EPS and revenue of $305.96 million, both ahead of analyst estimates, with revenue jumping 229.7% year over year.
• Analysts remain mostly bullish on the stock, with a Moderate Buy consensus and an average price target of $210.95, even as several firms trimmed their targets recently.

William Blair Investment Management LLC decreased its holdings in Insmed, Inc. (NASDAQ:INSM - Free Report) by 21.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,221,096 shares of the biopharmaceutical company's stock after selling 333,961 shares during the period. William Blair Investment Management LLC owned about 0.57% of Insmed worth $212,520,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of INSM. CIBC Private Wealth Group LLC raised its stake in Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock worth $26,000 after buying an additional 53 shares in the last quarter. CoreCap Advisors LLC bought a new position in Insmed in the fourth quarter worth approximately $27,000. SBI Securities Co. Ltd. raised its stake in Insmed by 404.9% in the third quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company's stock worth $30,000 after buying an additional 166 shares in the last quarter. GraniteShares Advisors LLC bought a new position in Insmed in the fourth quarter worth approximately $30,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Insmed by 169.7% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company's stock worth $38,000 after buying an additional 151 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Barclays boosted their price objective on shares of Insmed from $231.00 to $237.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 1st. Royal Bank Of Canada reduced their price target on Insmed from $220.00 to $205.00 and set an "outperform" rating on the stock in a research report on Friday, May 8th. Raymond James Financial assumed coverage on Insmed in a research report on Friday, April 10th. They set an "outperform" rating and a $200.00 price target on the stock. Wells Fargo & Company reduced their price target on Insmed from $177.00 to $160.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. Finally, Truist Financial reduced their price target on Insmed from $205.00 to $185.00 and set a "buy" rating on the stock in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $210.95.

Insmed Stock Performance

Shares of INSM stock opened at $106.24 on Friday. The business's fifty day simple moving average is $137.89 and its 200-day simple moving average is $160.87. The company has a market cap of $23.03 billion, a PE ratio of -18.48 and a beta of 0.89. 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 $65.56 and a 12-month high of $212.75.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.90) by $0.14. The business had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business's quarterly revenue was up 229.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.42) earnings per share. Analysts expect that Insmed, Inc. will post -2.52 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO William Lewis sold 10,699 shares of the business's stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $143.97, for a total transaction of $1,540,335.03. Following the sale, the chief executive officer directly owned 301,185 shares of the company's stock, valued at $43,361,604.45. The trade was a 3.43% decrease in their ownership of the stock. The sale 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 Alexander Smith sold 6,149 shares of the business's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $108.47, for a total transaction of $666,982.03. Following the sale, the insider directly owned 41,613 shares in the company, valued at $4,513,762.11. This trade represents a 12.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 156,643 shares of company stock valued at $24,513,766 over the last ninety days. 2.10% of the stock is currently owned by insiders.

Insmed 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.

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