Janus Henderson Group PLC Reduces Stock Position in Insmed, Inc. $INSM

Janus Henderson Group PLC lessened its position in Insmed, Inc. (NASDAQ:INSM) by 47.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 419,304 shares of the biopharmaceutical company’s stock after selling 381,251 shares during the period. Janus Henderson Group PLC’s holdings in Insmed were worth $68,564,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of INSM. CoreCap Advisors LLC bought a new position in shares of Insmed during the fourth quarter valued at about $27,000. Reflection Asset Management bought a new stake in shares of Insmed in the fourth quarter worth about $30,000. GraniteShares Advisors LLC purchased a new position in Insmed during the 4th quarter valued at about $30,000. CIBC Private Wealth Group LLC increased its holdings in Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 53 shares during the period. Finally, Raiffeisen Bank International AG bought a new position in Insmed during the 4th quarter valued at approximately $32,000.

Wall Street Analyst Weigh In

INSM has been the subject of several research analyst reports. Mizuho set a $192.00 price objective on Insmed in a report on Tuesday, June 16th. JPMorgan Chase & Co. reduced their target price on Insmed from $180.00 to $179.00 and set an “overweight” rating on the stock in a research note on Monday, June 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Insmed in a report on Friday, July 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $235.00 price target on shares of Insmed in a research note on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $220.00 price target on shares of Insmed in a report on Monday, July 20th. Two research analysts have 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 company has a consensus rating of “Buy” and an average price target of $209.35.

Insmed Stock Performance

Shares of INSM opened at $98.60 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. Insmed, Inc. has a one year low of $90.39 and a one year high of $212.75. The company has a 50-day simple moving average of $104.68 and a two-hundred day simple moving average of $131.02. The firm has a market capitalization of $21.37 billion, a PE ratio of -17.15 and a beta of 0.78.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business had revenue of $305.96 million for the quarter, compared to analysts’ expectations of $300.81 million. During the same period in the previous year, the firm posted ($1.42) EPS. The business’s revenue was up 229.7% on a year-over-year basis. On average, analysts anticipate that Insmed, Inc. will post -2.43 EPS for the current fiscal year.

Insider Transactions at Insmed

In related news, insider Michael Alexander Smith sold 6,149 shares of Insmed stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $108.47, for a total transaction of $666,982.03. Following the sale, the insider directly owned 41,613 shares in the company, valued at $4,513,762.11. The trade was a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $245,857.08. Following the completion of the sale, the chief financial officer directly owned 69,082 shares in the company, valued at approximately $7,065,016.14. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 54,590 shares of company stock worth $5,793,738. 2.10% of the stock is owned by company insiders.

Insmed Company Profile

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.