Rock Springs Capital Management LP Sells 4,950 Shares of Insmed, Inc. $INSM

Rock Springs Capital Management LP decreased its stake in Insmed, Inc. (NASDAQ:INSM) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 314,300 shares of the biopharmaceutical company’s stock after selling 4,950 shares during the period. Insmed accounts for 3.0% of Rock Springs Capital Management LP’s portfolio, making the stock its 7th largest position. Rock Springs Capital Management LP owned approximately 0.15% of Insmed worth $51,394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its position in Insmed by 65.6% in the second quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 263 shares during the period. First Trust Advisors LP boosted its holdings in shares of Insmed by 80.8% during the second quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock valued at $4,770,000 after acquiring an additional 21,176 shares during the period. Baird Financial Group Inc. acquired a new position in shares of Insmed during the second quarter valued at $2,589,000. Amundi grew its position in shares of Insmed by 21,194.4% during the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock worth $1,130,000 after acquiring an additional 11,445 shares during the last quarter. Finally, Natixis bought a new position in shares of Insmed during the second quarter worth about $1,072,000.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on INSM. Morgan Stanley raised shares of Insmed from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $166.00 to $212.00 in a report on Monday, March 30th. Mizuho set a $192.00 target price on shares of Insmed in a research note on Tuesday, June 16th. Raymond James Financial began coverage on shares of Insmed in a research report on Friday, April 10th. They issued an “outperform” rating and a $200.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Insmed in a research note on Friday, July 17th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $220.00 price target on shares of Insmed in a report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Insmed presently has an average rating of “Buy” and a consensus target price of $209.13.

Insmed Price Performance

Shares of NASDAQ INSM opened at $104.73 on Tuesday. Insmed, Inc. has a fifty-two week low of $90.39 and a fifty-two week high of $212.75. The firm’s 50-day simple moving average is $105.15 and its 200 day simple moving average is $132.75. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The stock has a market cap of $22.70 billion, a P/E ratio of -18.21 and a beta of 0.78.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.14. The business had revenue of $305.96 million during the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The company’s quarterly revenue was up 229.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.42) earnings per share. Equities analysts expect that Insmed, Inc. will post -2.43 EPS for the current year.

Insider Activity at Insmed

In other news, COO Roger Adsett sold 2,370 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $242,379.90. Following the completion of the transaction, the chief operating officer directly owned 98,603 shares in the company, valued at $10,084,128.81. This trade represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 10,699 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $117.40, for a total transaction of $1,256,062.60. Following the transaction, the chief executive officer owned 259,058 shares in the company, valued at $30,413,409.20. This represents a 3.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 54,590 shares of company stock valued at $5,793,738 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

Insmed Company 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.