Rock Springs Capital Management LP Has $37.97 Million Holdings in Insmed Incorporated (NASDAQ:INSM)

Rock Springs Capital Management LP cut its position in shares of Insmed Incorporated (NASDAQ:INSM) by 19.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 550,000 shares of the biopharmaceutical company’s stock after selling 133,344 shares during the quarter. Insmed accounts for 1.4% of Rock Springs Capital Management LP’s portfolio, making the stock its 23rd biggest holding. Rock Springs Capital Management LP’s holdings in Insmed were worth $37,972,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Jennison Associates LLC raised its holdings in shares of Insmed by 0.6% in the 4th quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock worth $53,424,000 after buying an additional 4,560 shares in the last quarter. Capital CS Group LLC bought a new stake in shares of Insmed during the fourth quarter worth $586,000. Tidal Investments LLC increased its position in Insmed by 447.0% in the 3rd quarter. Tidal Investments LLC now owns 24,102 shares of the biopharmaceutical company’s stock valued at $1,759,000 after acquiring an additional 19,696 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in Insmed by 237.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 59,600 shares of the biopharmaceutical company’s stock worth $4,115,000 after purchasing an additional 41,918 shares during the last quarter. Finally, abrdn plc raised its position in shares of Insmed by 159.5% during the fourth quarter. abrdn plc now owns 289,653 shares of the biopharmaceutical company’s stock worth $19,998,000 after acquiring an additional 178,041 shares during the last quarter.

Insider Transactions at Insmed

In other Insmed news, CFO Sara Bonstein sold 28,390 shares of Insmed stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total value of $2,296,751.00. Following the completion of the transaction, the chief financial officer now directly owns 155,506 shares of the company’s stock, valued at $12,580,435.40. The trade was a 15.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Lewis sold 6,830 shares of the firm’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $70.16, for a total value of $479,192.80. Following the completion of the transaction, the chief executive officer now owns 233,924 shares in the company, valued at $16,412,107.84. The trade was a 2.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 471,797 shares of company stock worth $37,621,239 over the last quarter. Company insiders own 3.00% of the company’s stock.

Insmed Stock Performance

Shares of INSM opened at $72.53 on Monday. The firm has a 50-day moving average of $75.34 and a 200-day moving average of $73.61. The company has a market cap of $13.19 billion, a PE ratio of -12.97 and a beta of 1.07. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. Insmed Incorporated has a one year low of $21.92 and a one year high of $84.91.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The company had revenue of $104.44 million for the quarter, compared to the consensus estimate of $102.31 million. As a group, equities analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on INSM. Wells Fargo & Company lifted their price target on shares of Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Stifel Nicolaus lowered their price objective on shares of Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 21st. HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Insmed in a research note on Friday, February 21st. Bank of America raised their target price on shares of Insmed from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, March 20th. Finally, Guggenheim restated a “buy” rating and issued a $101.00 price target on shares of Insmed in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

About Insmed

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.