Clearbridge Investments LLC reduced its stake in Insmed, Inc. (NASDAQ:INSM – Free Report) by 23.3% during the 4th quarter, Holdings Channel reports. The firm owned 819,011 shares of the biopharmaceutical company’s stock after selling 249,007 shares during the period. Clearbridge Investments LLC’s holdings in Insmed were worth $142,541,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Havemeyer Place LP bought a new position in shares of Insmed in the 4th quarter worth $1,025,000. Vestcor Inc bought a new position in shares of Insmed in the 4th quarter worth $738,000. Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new position in shares of Insmed in the 4th quarter worth $8,789,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Insmed in the 4th quarter worth $261,000. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in shares of Insmed in the 4th quarter worth $2,011,000.
Insider Transactions at Insmed
In other Insmed news, CFO Sara Bonstein sold 2,404 shares of Insmed stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $245,857.08. Following the sale, the chief financial officer owned 69,082 shares of the company’s stock, valued at $7,065,016.14. This trade represents a 3.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 Insmed stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $777,763.35. Following the completion of the sale, the chief executive officer directly owned 265,432 shares in the company, valued at $27,145,730.64. This represents a 2.79% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 160,482 shares of company stock worth $24,438,193. Company insiders own 2.10% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Stock Analysis on Insmed
Insmed Stock Performance
Shares of Insmed stock opened at $94.22 on Monday. The company has a market capitalization of $20.42 billion, a PE ratio of -16.39 and a beta of 0.79. Insmed, Inc. has a 12 month low of $70.57 and a 12 month high of $212.75. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The stock’s fifty day simple moving average is $130.45 and its 200 day simple moving average is $154.65.
Insmed (NASDAQ:INSM – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The firm had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. During the same quarter last year, the business posted ($1.42) EPS. The company’s revenue for the quarter was up 229.7% on a year-over-year basis. On average, research analysts predict that Insmed, Inc. will post -2.56 EPS for the current year.
Insmed 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.
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