Baker BROS. Advisors LP Has $1.15 Billion Stake in Insmed, Inc. $INSM

Baker BROS. Advisors LP cut its holdings in Insmed, Inc. (NASDAQ:INSM) by 1.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,592,746 shares of the biopharmaceutical company’s stock after selling 110,738 shares during the period. Insmed comprises approximately 6.7% of Baker BROS. Advisors LP’s holdings, making the stock its 4th largest position. Baker BROS. Advisors LP’s holdings in Insmed were worth $1,147,402,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in INSM. Norges Bank bought a new position in shares of Insmed in the 4th quarter worth about $506,625,000. Vanguard Group Inc. grew its holdings in Insmed by 13.0% in the third quarter. Vanguard Group Inc. now owns 19,935,820 shares of the biopharmaceutical company’s stock worth $2,870,957,000 after purchasing an additional 2,291,328 shares during the period. Artisan Partners Limited Partnership grew its holdings in Insmed by 49.0% in the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after purchasing an additional 1,623,342 shares during the period. Orbis Allan Gray Ltd acquired a new stake in Insmed in the second quarter worth $153,389,000. Finally, State Street Corp grew its holdings in Insmed by 30.6% in the fourth quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock worth $905,312,000 after purchasing an additional 1,217,390 shares during the period.

Insider Activity

In other Insmed news, COO Roger Adsett sold 2,370 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer directly owned 98,603 shares of the company’s stock, valued at approximately $10,084,128.81. This represents a 2.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 7,605 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $777,763.35. Following the completion of the sale, the chief executive officer directly owned 265,432 shares of the company’s stock, valued at $27,145,730.64. The trade was a 2.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 149,783 shares of company stock valued at $22,902,672. 2.10% of the stock is currently owned by company insiders.

Insmed Stock Performance

Shares of Insmed stock opened at $98.45 on Thursday. The company has a market cap of $21.34 billion, a PE ratio of -17.12 and a beta of 0.79. Insmed, Inc. has a 52 week low of $90.39 and a 52 week high of $212.75. The business has a 50 day moving average price of $120.61 and a 200-day moving average price of $148.61. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. The company 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 firm’s revenue for the quarter was up 229.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.42) earnings per share. Equities analysts anticipate that Insmed, Inc. will post -2.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INSM has been the subject of a number of research reports. Truist Financial reduced their price target on shares of Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Leerink Partners raised their price target on shares of Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Tuesday, March 24th. Barclays raised their price target on shares of Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a report on Wednesday, April 1st. Jefferies Financial Group began coverage on shares of Insmed in a research report on Monday, March 16th. They issued a “buy” rating and a $228.00 price target for the company. Finally, Royal Bank Of Canada reduced their price target on shares of Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. One 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. Based on data from MarketBeat, Insmed presently has an average rating of “Moderate Buy” and an average target price of $211.86.

About Insmed

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.