WCM Investment Management LLC Sells 361 Shares of Insmed, Inc. (NASDAQ:INSM)

WCM Investment Management LLC reduced its position in Insmed, Inc. (NASDAQ:INSM) by 0.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 144,379 shares of the biopharmaceutical company’s stock after selling 361 shares during the period. WCM Investment Management LLC owned about 0.08% of Insmed worth $11,260,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of INSM. Darwin Global Management Ltd. raised its stake in Insmed by 23.5% in the fourth quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock valued at $894,796,000 after buying an additional 2,463,261 shares during the period. Norges Bank acquired a new position in shares of Insmed during the 4th quarter worth approximately $126,606,000. Vanguard Group Inc. raised its stake in Insmed by 6.3% in the 4th quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock valued at $1,257,838,000 after acquiring an additional 1,075,796 shares during the period. Brown Advisory Inc. bought a new stake in Insmed in the 4th quarter valued at $45,773,000. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in Insmed by 59.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,647,562 shares of the biopharmaceutical company’s stock valued at $113,748,000 after purchasing an additional 615,000 shares during the last quarter.

Insmed Stock Up 0.6%

Shares of NASDAQ INSM opened at $98.24 on Thursday. The stock has a market capitalization of $18.64 billion, a P/E ratio of -16.51 and a beta of 0.90. The stock’s fifty day moving average is $79.71 and its 200 day moving average is $76.08. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $106.83. The company has a debt-to-equity ratio of 11.38, a quick ratio of 5.44 and a current ratio of 5.86.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.06). The firm had revenue of $92.82 million for the quarter, compared to analyst estimates of $91.63 million. Insmed had a negative return on equity of 446.98% and a negative net margin of 265.93%. The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.06) earnings per share. Sell-side analysts forecast that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley upped their price objective on shares of Insmed from $90.00 to $102.00 and gave the company an “overweight” rating in a report on Wednesday, June 11th. Citigroup raised shares of Insmed to a “buy” rating in a report on Tuesday, June 10th. Leerink Partners raised their price objective on shares of Insmed from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 10th. Wells Fargo & Company boosted their price objective on Insmed from $107.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, June 11th. Finally, Bank of America increased their target price on Insmed from $94.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.80.

Insider Buying and Selling at Insmed

In other Insmed news, COO Roger Adsett sold 7,482 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $67.81, for a total transaction of $507,354.42. Following the completion of the sale, the chief operating officer directly owned 138,600 shares in the company, valued at $9,398,466. This represents a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Martina M.D. Flammer sold 9,925 shares of Insmed stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $65.47, for a total value of $649,789.75. Following the completion of the transaction, the insider owned 86,596 shares in the company, valued at approximately $5,669,440.12. The trade was a 10.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 488,752 shares of company stock valued at $43,199,826. 3.00% of the stock is currently owned by insiders.

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.