William Blair Investment Management LLC Reduces Holdings in Insmed Incorporated (NASDAQ:INSM)

William Blair Investment Management LLC cut its stake in Insmed Incorporated (NASDAQ:INSM) by 17.7% in the second quarter, Holdings Channel.com reports. The fund owned 3,469,728 shares of the biopharmaceutical company’s stock after selling 744,991 shares during the quarter. William Blair Investment Management LLC’s holdings in Insmed were worth $232,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in INSM. Victory Capital Management Inc. increased its holdings in shares of Insmed by 21.4% in the 4th quarter. Victory Capital Management Inc. now owns 18,797 shares of the biopharmaceutical company’s stock valued at $583,000 after acquiring an additional 3,311 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Insmed by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,128,436 shares of the biopharmaceutical company’s stock valued at $34,970,000 after buying an additional 28,629 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Insmed during the fourth quarter worth about $246,000. Principal Financial Group Inc. lifted its position in Insmed by 5.4% during the 4th quarter. Principal Financial Group Inc. now owns 1,359,563 shares of the biopharmaceutical company’s stock worth $42,133,000 after acquiring an additional 69,281 shares during the period. Finally, Norges Bank purchased a new position in shares of Insmed in the 4th quarter valued at approximately $45,029,000.

Insmed Price Performance

INSM stock opened at $74.66 on Friday. The stock’s 50 day moving average is $74.65 and its two-hundred day moving average is $50.30. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53. The company has a market capitalization of $12.83 billion, a PE ratio of -14.28 and a beta of 1.11. The company has a quick ratio of 2.53, a current ratio of 2.71 and a debt-to-equity ratio of 25.05.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The business had revenue of $90.34 million during the quarter, compared to the consensus estimate of $87.95 million. During the same quarter in the previous year, the company posted ($1.78) earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. Analysts predict that Insmed Incorporated will post -5.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

INSM has been the topic of several recent research reports. Stifel Nicolaus boosted their price objective on shares of Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Mizuho raised their price objective on shares of Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, June 7th. UBS Group upped their target price on Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, August 9th. StockNews.com lowered shares of Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, TD Cowen lifted their target price on shares of Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Insmed has a consensus rating of “Moderate Buy” and a consensus price target of $79.19.

Insider Transactions at Insmed

In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total value of $2,686,612.50. Following the completion of the transaction, the insider now directly owns 100,100 shares of the company’s stock, valued at approximately $7,157,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.60% of the company’s stock.

Insmed Profile

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.