Avidity Partners Management LP Has $16.07 Million Stock Holdings in Insmed Incorporated (NASDAQ:INSM)

Avidity Partners Management LP reduced its holdings in Insmed Incorporated (NASDAQ:INSM) by 60.7% in the 4th quarter, HoldingsChannel reports. The fund owned 232,800 shares of the biopharmaceutical company’s stock after selling 359,200 shares during the period. Insmed comprises approximately 1.6% of Avidity Partners Management LP’s holdings, making the stock its 26th biggest position. Avidity Partners Management LP’s holdings in Insmed were worth $16,073,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Insmed by 6.3% in the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock valued at $1,257,838,000 after purchasing an additional 1,075,796 shares during the period. Darwin Global Management Ltd. increased its stake in shares of Insmed by 23.5% in the fourth quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock valued at $894,796,000 after buying an additional 2,463,261 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Insmed by 1.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,704,410 shares of the biopharmaceutical company’s stock worth $877,113,000 after acquiring an additional 123,429 shares during the last quarter. Capital International Investors lifted its stake in shares of Insmed by 9.1% in the fourth quarter. Capital International Investors now owns 7,116,997 shares of the biopharmaceutical company’s stock worth $491,357,000 after acquiring an additional 593,206 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Insmed by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 4,087,143 shares of the biopharmaceutical company’s stock valued at $282,243,000 after acquiring an additional 273,759 shares during the last quarter.

Insider Buying and Selling

In other Insmed news, COO Roger Adsett sold 45,605 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total transaction of $3,689,444.50. Following the sale, the chief operating officer now owns 189,157 shares in the company, valued at $15,302,801.30. This represents a 19.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $77.94, for a total value of $1,461,375.00. Following the completion of the transaction, the chief executive officer now owns 379,534 shares of the company’s stock, valued at approximately $29,580,879.96. This represents a 4.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 387,487 shares of company stock valued at $30,825,692. 3.00% of the stock is owned by insiders.

Insmed Stock Performance

Shares of INSM opened at $72.30 on Friday. The firm has a market capitalization of $13.15 billion, a P/E ratio of -12.93 and a beta of 1.07. The stock has a 50 day moving average price of $73.42 and a two-hundred day moving average price of $73.46. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $84.91. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. UBS Group upped their price target on shares of Insmed from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Guggenheim reissued a “buy” rating and issued a $101.00 price objective on shares of Insmed in a research report on Tuesday, February 25th. Stifel Nicolaus cut their target price on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. lifted their target price on Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.