Polar Capital Holdings Plc Cuts Stake in Insmed, Inc. $INSM

Polar Capital Holdings Plc cut its holdings in Insmed, Inc. (NASDAQ:INSM) by 7.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 344,228 shares of the biopharmaceutical company’s stock after selling 27,659 shares during the period. Polar Capital Holdings Plc owned 0.16% of Insmed worth $59,909,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its holdings in Insmed by 65.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 263 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Insmed by 80.8% during the 2nd quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock worth $4,770,000 after acquiring an additional 21,176 shares in the last quarter. Baird Financial Group Inc. purchased a new stake in shares of Insmed during the 2nd quarter worth approximately $2,589,000. Amundi boosted its position in shares of Insmed by 21,194.4% during the 2nd quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock valued at $1,130,000 after acquiring an additional 11,445 shares during the last quarter. Finally, Natixis purchased a new position in shares of Insmed in the second quarter valued at $1,072,000.

Insmed Trading Down 2.0%

Shares of INSM opened at $95.52 on Wednesday. The company’s fifty day simple moving average is $121.91 and its 200-day simple moving average is $149.36. The company has a market cap of $20.70 billion, a P/E ratio of -16.61 and a beta of 0.79. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. Insmed, Inc. has a twelve month low of $90.39 and a twelve month high of $212.75.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $300.81 million. During the same period in the prior year, the firm posted ($1.42) EPS. The firm’s revenue was up 229.7% compared to the same quarter last year. As a group, analysts expect that Insmed, Inc. will post -2.54 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on INSM. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a report on Wednesday, June 10th. Roth Mkm reaffirmed a “buy” rating on shares of Insmed in a report on Monday, June 8th. Bank of America lifted their price target on Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Stifel Nicolaus boosted their price objective on Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Finally, HC Wainwright restated a “buy” rating on shares of Insmed in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.86.

Insiders Place Their Bets

In other news, COO Roger Adsett sold 88,060 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $164.63, for a total transaction of $14,497,317.80. Following the transaction, the chief operating officer owned 106,810 shares of the company’s stock, valued at approximately $17,584,130.30. This represents a 45.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William Lewis sold 10,699 shares of the stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $143.97, for a total value of $1,540,335.03. Following the completion of the sale, the chief executive officer owned 301,185 shares in the company, valued at approximately $43,361,604.45. The trade was a 3.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 160,482 shares of company stock worth $24,438,193 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

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.