Capital International Investors Boosts Stake in Insmed Incorporated (NASDAQ:INSM)

Capital International Investors grew its holdings in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 9.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,116,997 shares of the biopharmaceutical company's stock after buying an additional 593,206 shares during the period. Capital International Investors owned 3.98% of Insmed worth $491,357,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC grew its holdings in Insmed by 0.6% in the fourth quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company's stock worth $53,424,000 after purchasing an additional 4,560 shares during the period. Capital CS Group LLC purchased a new position in Insmed during the fourth quarter valued at $586,000. Tidal Investments LLC boosted its holdings in Insmed by 447.0% in the third quarter. Tidal Investments LLC now owns 24,102 shares of the biopharmaceutical company's stock worth $1,759,000 after acquiring an additional 19,696 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Insmed by 237.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 59,600 shares of the biopharmaceutical company's stock worth $4,115,000 after acquiring an additional 41,918 shares during the last quarter. Finally, abrdn plc increased its holdings in shares of Insmed by 159.5% during the fourth quarter. abrdn plc now owns 289,653 shares of the biopharmaceutical company's stock valued at $19,998,000 after acquiring an additional 178,041 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on INSM shares. Royal Bank of Canada restated an "outperform" rating and set a $100.00 price objective on shares of Insmed in a research note on Wednesday, March 19th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Insmed in a research note on Wednesday, February 19th. UBS Group upped their price target on Insmed from $105.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Truist Financial lifted their price objective on Insmed from $105.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Insmed from $83.00 to $92.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $94.00.

Insmed Price Performance

NASDAQ:INSM traded down $1.40 on Thursday, reaching $69.40. 2,029,696 shares of the company's stock traded hands, compared to its average volume of 2,249,144. The stock has a 50-day simple moving average of $74.82 and a 200-day simple moving average of $73.56. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $84.91. The firm has a market cap of $12.62 billion, a PE ratio of -12.44 and a beta of 1.07. 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 - Get Free Report) last posted its quarterly 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 business had revenue of $104.44 million during the quarter, compared to the consensus estimate of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. Equities research analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Martina M.D. Flammer sold 33,055 shares of the firm's stock in a transaction on 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 completion of the transaction, the insider now directly owns 138,053 shares of the company's stock, valued at approximately $11,168,487.70. This trade represents a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William Lewis sold 6,830 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $70.16, for a total transaction of $479,192.80. Following the sale, the chief executive officer now directly owns 233,924 shares in the company, valued at approximately $16,412,107.84. The trade was a 2.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 471,797 shares of company stock worth $37,621,239 in the last 90 days. 3.00% of the stock is currently owned by corporate 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.