Oak Ridge Investments LLC Sells 7,757 Shares of Insmed, Inc. $INSM

Oak Ridge Investments LLC lowered its position in shares of Insmed, Inc. (NASDAQ:INSM) by 18.5% in the second quarter, HoldingsChannel reports. The firm owned 34,188 shares of the biopharmaceutical company’s stock after selling 7,757 shares during the period. Oak Ridge Investments LLC’s holdings in Insmed were worth $3,441,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Insmed by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 18,268,122 shares of the biopharmaceutical company’s stock valued at $1,393,675,000 after purchasing an additional 49,149 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Insmed by 1.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,923,541 shares of the biopharmaceutical company’s stock valued at $985,938,000 after purchasing an additional 219,131 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Insmed by 109.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 3,446,944 shares of the biopharmaceutical company’s stock valued at $262,967,000 after purchasing an additional 1,799,382 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Insmed by 2.5% during the 1st quarter. Alliancebernstein L.P. now owns 2,423,513 shares of the biopharmaceutical company’s stock valued at $184,890,000 after purchasing an additional 59,952 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Insmed by 3.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,602,655 shares of the biopharmaceutical company’s stock valued at $122,267,000 after purchasing an additional 56,048 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Jefferies Financial Group increased their target price on Insmed from $129.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. William Blair assumed coverage on Insmed in a report on Wednesday, August 20th. They set an “outperform” rating on the stock. UBS Group increased their target price on Insmed from $124.00 to $133.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Wells Fargo & Company increased their target price on Insmed from $140.00 to $171.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Finally, Stifel Nicolaus increased their target price on Insmed from $121.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 14th. Nineteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Insmed has a consensus rating of “Moderate Buy” and an average target price of $149.06.

Insmed Price Performance

Insmed stock opened at $162.33 on Friday. The business’s 50-day simple moving average is $138.08 and its 200 day simple moving average is $101.99. The stock has a market cap of $34.31 billion, a price-to-earnings ratio of -28.43 and a beta of 1.03. Insmed, Inc. has a 12-month low of $60.40 and a 12-month high of $164.58. The company has a quick ratio of 6.33, a current ratio of 6.68 and a debt-to-equity ratio of 0.45.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.30) by ($0.40). The firm had revenue of $107.42 million during the quarter, compared to the consensus estimate of $104.06 million. Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. Insmed’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.94) EPS. Insmed has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Insmed, Inc. will post -4.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Melvin Md Sharoky sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $145.39, for a total value of $1,453,900.00. Following the transaction, the director owned 262,675 shares in the company, valued at $38,190,318.25. This trade represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Adsett sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $127.58, for a total value of $3,189,500.00. Following the completion of the transaction, the chief operating officer owned 105,637 shares in the company, valued at approximately $13,477,168.46. This represents a 19.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,820 shares of company stock valued at $28,232,955 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Insmed Company 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.