WCM Investment Management LLC Cuts Stake in Insmed Incorporated (NASDAQ:INSM)

WCM Investment Management LLC reduced its stake in Insmed Incorporated (NASDAQ:INSM - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 144,740 shares of the biopharmaceutical company's stock after selling 3,590 shares during the period. WCM Investment Management LLC owned about 0.08% of Insmed worth $9,968,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in INSM. Vestal Point Capital LP boosted its stake in shares of Insmed by 113.3% in the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company's stock valued at $116,800,000 after purchasing an additional 850,000 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in Insmed during the 3rd quarter worth approximately $35,322,000. Assenagon Asset Management S.A. raised its holdings in Insmed by 119.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 857,360 shares of the biopharmaceutical company's stock worth $62,587,000 after purchasing an additional 466,306 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Insmed by 209.9% during the 3rd quarter. Victory Capital Management Inc. now owns 455,959 shares of the biopharmaceutical company's stock worth $33,285,000 after purchasing an additional 308,819 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Insmed during the 3rd quarter worth approximately $18,377,000.

Insmed Stock Down 1.2 %

NASDAQ INSM traded down $0.93 during mid-day trading on Thursday, hitting $78.67. The company's stock had a trading volume of 1,835,596 shares, compared to its average volume of 1,905,421. The company's 50 day simple moving average is $73.23 and its 200 day simple moving average is $73.20. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $82.04. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $14.07 billion, a price-to-earnings ratio of -14.17 and a beta of 1.11.

Wall Street Analyst Weigh In

INSM has been the subject of several analyst reports. Stifel Nicolaus raised their price target on shares of Insmed from $88.00 to $97.00 and gave the stock a "buy" rating in a report on Tuesday. Guggenheim raised their price target on shares of Insmed from $95.00 to $101.00 and gave the stock a "buy" rating in a report on Friday, February 7th. HC Wainwright restated a "buy" rating and set a $90.00 price target on shares of Insmed in a report on Friday, November 1st. Truist Financial reiterated a "buy" rating and issued a $105.00 price objective (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. Finally, Morgan Stanley lifted their price objective on shares of Insmed from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $85.60.

Insiders Place Their Bets

In other Insmed news, CFO Sara Bonstein sold 13,302 shares of Insmed stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $80.00, for a total transaction of $1,064,160.00. Following the transaction, the chief financial officer now directly owns 142,204 shares of the company's stock, valued at $11,376,320. The trade was a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Martina M.D. Flammer sold 3,344 shares of Insmed stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total transaction of $220,403.04. Following the transaction, the insider now directly owns 102,766 shares in the company, valued at $6,773,307.06. This represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 495,135 shares of company stock valued at $38,409,713 in the last three months. 4.60% 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.