GW&K Investment Management LLC decreased its holdings in shares of Insmed, Inc. (NASDAQ:INSM – Free Report) by 19.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 482,670 shares of the biopharmaceutical company’s stock after selling 119,133 shares during the quarter. Insmed comprises about 0.7% of GW&K Investment Management LLC’s portfolio, making the stock its 26th biggest holding. GW&K Investment Management LLC owned approximately 0.23% of Insmed worth $84,005,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Artisan Partners Limited Partnership grew its holdings in shares of Insmed by 49.0% during the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after buying an additional 1,623,342 shares in the last quarter. Atika Capital Management LLC purchased a new stake in shares of Insmed during the third quarter worth $13,681,000. iA Global Asset Management Inc. grew its holdings in shares of Insmed by 15,973.5% during the fourth quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company’s stock worth $4,644,000 after buying an additional 26,516 shares in the last quarter. Nordea Investment Management AB purchased a new stake in shares of Insmed during the fourth quarter worth $3,492,000. Finally, Essex Investment Management Co. LLC grew its holdings in shares of Insmed by 31.2% during the third quarter. Essex Investment Management Co. LLC now owns 87,077 shares of the biopharmaceutical company’s stock worth $12,540,000 after buying an additional 20,732 shares in the last quarter.
Insider Activity at Insmed
In other Insmed news, CEO William Lewis sold 10,699 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were 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 of the company’s stock, valued at $43,361,604.45. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sara Bonstein sold 2,404 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 transaction of $245,857.08. Following the completion of the transaction, the chief financial officer directly owned 69,082 shares in the company, valued at $7,065,016.14. The trade was a 3.36% 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 ninety days, insiders sold 160,482 shares of company stock worth $24,438,193. 2.10% of the stock is owned by corporate insiders.
Insmed Trading Up 5.2%
Insmed (NASDAQ:INSM – Get Free Report) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $305.96 million for the quarter, compared to analysts’ expectations of $300.81 million. During the same quarter in the prior year, the company posted ($1.42) earnings per share. Insmed’s revenue for the quarter was up 229.7% compared to the same quarter last year. As a group, equities analysts predict that Insmed, Inc. will post -2.56 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on INSM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research report on Tuesday, April 21st. Leerink Partners boosted their price target on shares of Insmed from $210.00 to $215.00 and gave the company an “outperform” rating in a research report on Tuesday, March 24th. Mizuho boosted their price target on shares of Insmed from $204.00 to $206.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. Barclays boosted their price target on shares of Insmed from $231.00 to $237.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Finally, Bank of America boosted their price target on shares of Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $212.50.
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.
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