Vanguard Group Inc. Has $1.26 Billion Stock Position in Insmed Incorporated (NASDAQ:INSM)

Vanguard Group Inc. lifted its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,218,973 shares of the biopharmaceutical company’s stock after purchasing an additional 1,075,796 shares during the period. Vanguard Group Inc. owned 10.18% of Insmed worth $1,257,838,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vestal Point Capital LP lifted its stake in Insmed by 113.3% in the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after acquiring an additional 850,000 shares during the last quarter. Eventide Asset Management LLC lifted its stake in Insmed by 34.2% in the 3rd quarter. Eventide Asset Management LLC now owns 906,395 shares of the biopharmaceutical company’s stock valued at $66,167,000 after purchasing an additional 231,210 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Insmed by 12.9% during the third quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock worth $136,648,000 after purchasing an additional 214,130 shares during the period. TimesSquare Capital Management LLC increased its position in Insmed by 41.4% during the fourth quarter. TimesSquare Capital Management LLC now owns 684,384 shares of the biopharmaceutical company’s stock worth $47,250,000 after buying an additional 200,515 shares during the last quarter. Finally, abrdn plc raised its stake in Insmed by 159.5% in the fourth quarter. abrdn plc now owns 289,653 shares of the biopharmaceutical company’s stock valued at $19,998,000 after buying an additional 178,041 shares during the period.

Insmed Price Performance

INSM stock opened at $77.69 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The company’s 50-day moving average is $78.07 and its 200-day moving average is $73.93. The stock has a market capitalization of $14.06 billion, a PE ratio of -13.90 and a beta of 1.28. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $84.91.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The firm had revenue of $104.44 million during the quarter, compared to analyst estimates of $102.31 million. Equities research analysts expect that Insmed Incorporated will post -4.56 EPS for the current fiscal year.

Insider Buying and Selling at Insmed

In related news, CEO William Lewis sold 18,750 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $81.03, for a total value of $1,519,312.50. Following the completion of the sale, the chief executive officer now directly owns 334,186 shares of the company’s stock, valued at approximately $27,079,091.58. This represents a 5.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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. In the last 90 days, insiders sold 550,957 shares of company stock worth $42,992,528. 4.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

INSM has been the topic of several research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price objective on shares of Insmed in a report on Wednesday, March 19th. HC Wainwright reiterated a “buy” rating and set a $90.00 price objective on shares of Insmed in a research report on Friday, February 21st. Truist Financial lifted their price target on Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Bank of America boosted their price objective on shares of Insmed from $92.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, March 20th. Finally, Guggenheim reiterated a “buy” rating and issued a $101.00 target price on shares of Insmed in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

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.