Rock Springs Capital Management LP Decreases Position in Insmed Incorporated (NASDAQ:INSM)

Rock Springs Capital Management LP cut its holdings in Insmed Incorporated (NASDAQ:INSM) by 19.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 550,000 shares of the biopharmaceutical company’s stock after selling 133,344 shares during the quarter. Insmed makes up approximately 1.4% of Rock Springs Capital Management LP’s portfolio, making the stock its 23rd largest holding. Rock Springs Capital Management LP owned 0.31% of Insmed worth $37,972,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of INSM. Norges Bank purchased a new stake in Insmed in the 4th quarter worth approximately $126,606,000. Vanguard Group Inc. grew its stake in Insmed by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock worth $1,257,838,000 after buying an additional 1,075,796 shares during the period. Capital International Investors lifted its holdings in shares of Insmed by 9.1% during the 4th quarter. Capital International Investors now owns 7,116,997 shares of the biopharmaceutical company’s stock valued at $491,357,000 after acquiring an additional 593,206 shares in the last quarter. B Group Inc. acquired a new position in shares of Insmed during the fourth quarter worth about $24,164,000. Finally, Marshall Wace LLP boosted its holdings in Insmed by 38.0% in the 4th quarter. Marshall Wace LLP now owns 1,064,215 shares of the biopharmaceutical company’s stock worth $73,473,000 after acquiring an additional 293,004 shares during the period.

Insider Activity at Insmed

In other Insmed news, CEO William Lewis sold 6,830 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $70.16, for a total value of $479,192.80. Following the completion of the sale, the chief executive officer now owns 233,924 shares in the company, valued at $16,412,107.84. This represents a 2.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sara Bonstein sold 28,390 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $80.90, for a total value of $2,296,751.00. Following the completion of the transaction, the chief financial officer now owns 155,506 shares in the company, valued at $12,580,435.40. This trade represents a 15.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 471,797 shares of company stock valued at $37,621,239. Company insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

INSM has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Truist Financial increased their target price on shares of Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, February 21st. UBS Group raised their price target on Insmed from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Guggenheim reiterated a “buy” rating and issued a $101.00 price objective on shares of Insmed in a research report on Tuesday, February 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

Insmed Stock Performance

Shares of NASDAQ INSM opened at $72.53 on Monday. The stock’s fifty day simple moving average is $75.34 and its 200 day simple moving average is $73.61. The stock has a market capitalization of $13.19 billion, a price-to-earnings ratio of -12.97 and a beta of 1.07. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $84.91. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last released its earnings results 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 firm had revenue of $104.44 million during the quarter, compared to analysts’ expectations of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. As a group, sell-side analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

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.