Clearbridge Investments LLC Acquires 69,683 Shares of Insmed Incorporated (NASDAQ:INSM)

Clearbridge Investments LLC lifted its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,878,450 shares of the biopharmaceutical company’s stock after purchasing an additional 69,683 shares during the period. Clearbridge Investments LLC owned 1.05% of Insmed worth $129,688,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in INSM. Vanguard Group Inc. boosted its holdings in shares of Insmed by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock worth $1,257,838,000 after buying an additional 1,075,796 shares in the last quarter. Geode Capital Management LLC boosted its stake in Insmed by 4.7% during the third quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock worth $278,432,000 after acquiring an additional 172,664 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in Insmed by 8.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 3,126,339 shares of the biopharmaceutical company’s stock worth $215,842,000 after purchasing an additional 242,242 shares during the period. William Blair Investment Management LLC increased its stake in Insmed by 0.5% in the fourth quarter. William Blair Investment Management LLC now owns 2,433,443 shares of the biopharmaceutical company’s stock valued at $168,005,000 after purchasing an additional 12,535 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Insmed by 5.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,959,718 shares of the biopharmaceutical company’s stock valued at $135,299,000 after purchasing an additional 96,377 shares during the period.

Insider Activity at Insmed

In related news, CFO Sara Bonstein sold 3,470 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $65.70, for a total value of $227,979.00. Following the transaction, the chief financial officer now owns 114,736 shares in the company, valued at approximately $7,538,155.20. This represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $77.03, for a total value of $1,444,312.50. Following the completion of the sale, the chief executive officer now directly owns 334,186 shares of the company’s stock, valued at $25,742,347.58. This represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 550,957 shares of company stock worth $42,992,528. 4.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on INSM shares. Morgan Stanley raised their target price on Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Bank of America boosted their price objective on Insmed from $92.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, March 20th. Truist Financial increased their target price on Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Wells Fargo & Company boosted their price target on shares of Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, UBS Group raised their price objective on shares of Insmed from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

Insmed Price Performance

Insmed stock opened at $77.99 on Monday. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The stock has a market cap of $14.12 billion, a P/E ratio of -13.95 and a beta of 1.28. The company’s 50 day moving average price is $78.18 and its two-hundred day moving average price is $74.00. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $84.91.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 251.24% and a negative return on equity of 4,773.73%. On average, equities analysts predict that Insmed Incorporated will post -4.56 earnings per share for the current year.

Insmed Company Profile

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.