Polar Capital Holdings Plc Sells 27,659 Shares of Insmed, Inc. $INSM

Polar Capital Holdings Plc cut its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 344,228 shares of the biopharmaceutical company’s stock after selling 27,659 shares during the quarter. Polar Capital Holdings Plc’s holdings in Insmed were worth $59,909,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of INSM. CIBC Private Wealth Group LLC increased its holdings in Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 53 shares during the period. CoreCap Advisors LLC purchased a new stake in shares of Insmed in the 4th quarter worth $27,000. GraniteShares Advisors LLC bought a new position in shares of Insmed during the 4th quarter worth $30,000. Raiffeisen Bank International AG bought a new position in shares of Insmed during the 4th quarter worth $32,000. Finally, RiverPark Advisors LLC purchased a new position in shares of Insmed during the third quarter valued at $38,000.

Insider Activity

In other news, insider Michael Alexander Smith sold 19,638 shares of the firm’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $150.98, for a total value of $2,964,945.24. Following the completion of the sale, the insider owned 51,871 shares of the company’s stock, valued at $7,831,483.58. This trade represents a 27.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Lewis sold 10,699 shares of the business’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $143.97, for a total value of $1,540,335.03. Following the transaction, the chief executive officer owned 301,185 shares in the company, valued at approximately $43,361,604.45. This trade represents a 3.43% decrease in their ownership of the stock. 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 sold a total of 160,482 shares of company stock valued at $24,438,193 over the last three months. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on INSM. Truist Financial decreased their price objective on Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Jefferies Financial Group assumed coverage on shares of Insmed in a research report on Monday, March 16th. They set a “buy” rating and a $228.00 target price on the stock. Raymond James Financial assumed coverage on shares of Insmed in a report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research report on Wednesday, June 10th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.86.

Insmed Stock Performance

INSM stock opened at $95.52 on Wednesday. Insmed, Inc. has a one year low of $90.39 and a one year high of $212.75. The firm has a market cap of $20.70 billion, a price-to-earnings ratio of -16.61 and a beta of 0.79. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. The firm has a 50-day simple moving average of $121.91 and a two-hundred day simple moving average of $149.36.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm had revenue of $305.96 million during the quarter, compared to analyst estimates of $300.81 million. During the same quarter in the previous year, the business posted ($1.42) EPS. Insmed’s revenue was up 229.7% on a year-over-year basis. On average, equities analysts forecast that Insmed, Inc. will post -2.54 EPS for the current fiscal year.

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.