Engineers Gate Manager LP Sells 32,748 Shares of Insmed, Inc. $INSM

Engineers Gate Manager LP lowered its position in Insmed, Inc. (NASDAQ:INSM) by 20.6% in the second quarter, HoldingsChannel.com reports. The fund owned 126,044 shares of the biopharmaceutical company’s stock after selling 32,748 shares during the quarter. Engineers Gate Manager LP’s holdings in Insmed were worth $13,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of INSM. California State Teachers Retirement System increased its stake in shares of Insmed by 10,618.8% during the 2nd quarter. California State Teachers Retirement System now owns 32,497,563 shares of the biopharmaceutical company’s stock worth $3,464,890,000 after purchasing an additional 32,194,381 shares during the last quarter. Darwin Global Management Ltd. lifted its stake in Insmed by 2.3% in the 4th quarter. Darwin Global Management Ltd. now owns 20,933,277 shares of the biopharmaceutical company’s stock valued at $3,644,274,000 after purchasing an additional 475,832 shares during the last quarter. State Street Corp grew its holdings in Insmed by 30.6% during 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. RTW Investments LP grew its holdings in Insmed by 57.0% during the fourth quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company’s stock worth $842,855,000 after purchasing an additional 1,758,321 shares during the period. Finally, Geode Capital Management LLC increased its position in Insmed by 14.4% during the fourth quarter. Geode Capital Management LLC now owns 4,299,052 shares of the biopharmaceutical company’s stock worth $751,936,000 after buying an additional 539,625 shares during the last quarter.

Insmed Price Performance

NASDAQ:INSM opened at $127.28 on Friday. Insmed, Inc. has a 52 week low of $90.39 and a 52 week high of $212.75. The firm has a market cap of $27.80 billion, a price-to-earnings ratio of -30.97 and a beta of 0.82. The firm’s 50-day simple moving average is $117.40 and its 200 day simple moving average is $124.21. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.40 and a current ratio of 3.72.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.61. Insmed had a negative net margin of 76.94% and a negative return on equity of 123.94%. The firm had revenue of $425.49 million during the quarter, compared to the consensus estimate of $395.50 million. During the same quarter in the previous year, the firm posted ($1.70) EPS. The business’s revenue for the quarter was up 296.1% compared to the same quarter last year. As a group, sell-side analysts predict that Insmed, Inc. will post -1.83 earnings per share for the current year.

Insider Activity

In related news, CEO William Lewis sold 10,699 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $117.40, for a total value of $1,256,062.60. Following the completion of the sale, the chief executive officer directly owned 259,058 shares in the company, valued at approximately $30,413,409.20. The trade was a 3.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 239,850 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $133.27, for a total value of $31,964,809.50. Following the sale, the chief operating officer directly owned 98,744 shares in the company, valued at $13,159,612.88. This represents a 70.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 273,753 shares of company stock worth $35,604,764. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on INSM shares. Mizuho set a $192.00 price objective on Insmed in a research note on Tuesday, June 16th. Jefferies Financial Group reiterated a “buy” rating and set a $175.00 target price on shares of Insmed in a research note on Thursday, August 6th. Roth Capital reissued a “buy” rating on shares of Insmed in a report on Monday, June 8th. HC Wainwright restated a “buy” rating on shares of Insmed in a research note on Monday, August 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Insmed in a report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $205.52.

About Insmed

Insmed Incorporated (NASDAQ: INSM) is a global biopharmaceutical company focused on developing and commercializing therapies for serious and rare diseases. The company’s work centers on areas of significant unmet medical need, including pulmonary and infectious diseases, as well as other specialty conditions.

Insmed’s primary commercial product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled antibacterial therapy approved in the United States for adults with refractory Mycobacterium avium complex lung disease as part of a combination antibacterial regimen.