Rock Springs Capital Management LP Has $37.97 Million Position in Insmed Incorporated (NASDAQ:INSM)

Rock Springs Capital Management LP lowered its position in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 19.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 550,000 shares of the biopharmaceutical company's stock after selling 133,344 shares during the period. Insmed accounts for approximately 1.4% of Rock Springs Capital Management LP's portfolio, making the stock its 23rd largest position. Rock Springs Capital Management LP owned 0.31% of Insmed worth $37,972,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of INSM. B Group Inc. purchased a new position in shares of Insmed in the 4th quarter valued at $24,164,000. OneDigital Investment Advisors LLC grew its holdings in shares of Insmed by 11.7% during the fourth quarter. OneDigital Investment Advisors LLC now owns 3,553 shares of the biopharmaceutical company's stock worth $245,000 after purchasing an additional 372 shares during the last quarter. Senator Investment Group LP acquired a new stake in shares of Insmed during the fourth quarter worth about $8,285,000. Tower Research Capital LLC TRC lifted its holdings in shares of Insmed by 706.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 18,487 shares of the biopharmaceutical company's stock valued at $1,276,000 after purchasing an additional 16,194 shares during the last quarter. Finally, MML Investors Services LLC boosted its position in shares of Insmed by 3.4% in the 4th quarter. MML Investors Services LLC now owns 22,955 shares of the biopharmaceutical company's stock valued at $1,585,000 after purchasing an additional 754 shares during the period.

Insider Buying and Selling at Insmed

In related news, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the company's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $80.00, for a total transaction of $7,291,200.00. Following the transaction, the insider now directly owns 97,083 shares of the company's stock, valued at approximately $7,766,640. The trade was a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Martina M.D. Flammer sold 33,055 shares of Insmed stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $80.90, for a total value of $2,674,149.50. Following the transaction, the insider now directly owns 138,053 shares in the company, valued at approximately $11,168,487.70. This trade represents a 19.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 471,797 shares of company stock valued at $37,621,239. 3.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

INSM has been the topic of a number of research reports. Truist Financial raised their target price on shares of Insmed from $105.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Bank of America raised their price objective on shares of Insmed from $92.00 to $96.00 and gave the stock a "buy" rating in a research report on Thursday, March 20th. Wells Fargo & Company increased their target price on shares of Insmed from $85.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Morgan Stanley boosted their price target on Insmed from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Finally, UBS Group boosted their target price on Insmed from $105.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, March 6th. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $94.00.

Insmed Stock Performance

Shares of NASDAQ:INSM traded up $0.73 during trading hours on Friday, hitting $69.69. The stock had a trading volume of 13,610,728 shares, compared to its average volume of 2,302,671. The stock's fifty day simple moving average is $74.38 and its 200 day simple moving average is $73.53. The firm has a market capitalization of $12.67 billion, a price-to-earnings ratio of -12.47 and a beta of 1.07. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $84.91.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.15). The company had revenue of $104.44 million during the quarter, compared to analyst estimates of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. Sell-side analysts anticipate that Insmed Incorporated will post -4.56 earnings per share for the current fiscal 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.