INSMED INC INSM
COM PAR $.01 · Common Stock · CUSIP 457669307 · ISIN US4576693075
- SectorHealth care
- IndustryPharmaceutical Preparations
- HeadquartersBridgewater, NJ
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($3.1m this quarter). Holder counts are more reliable. Shares outstanding: 136.4m as of 2023-05-01, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $17.04. Options: 13 managers hold calls ($9.6m notional), 8 hold puts ($6.7m).
Trends to Q1 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 239 |
| Q4 2022 | 226 |
| Q1 2023 | 232 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 132 | 104 |
| Q1 2023 | 123 | 97 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $6.7m | $3.5m | 0.53 |
| Q4 2022 | $3.2m | $2.8m | 0.88 |
| Q1 2023 | $9.6m | $6.7m | 0.69 |
Biggest buyers
| FMR LLC | Added | +3.4m |
| Deep Track Capital, LP | Added | +2.2m |
| Hudson Bay Capital Management LP | Added | +1.4m |
| Bank of New York Mellon Corp | Added | +1.1m |
| NOVO HOLDINGS A/S | Added | +499.3k |
| CITADEL ADVISORS LLC | Added | +486.6k |
| Ikarian Capital, LLC | New | +485.0k |
| MONTANOVA CAPITAL, LLC | Added | +411.2k |
| MACQUARIE GROUP LTD | Added | +401.6k |
| LOOMIS SAYLES & CO L P | Added | +401.4k |
Biggest sellers
| Point72 Asset Management, L.P. | Sold out | -1.3m |
| BlackRock Inc. | Reduced | -1.0m |
| AMERIPRISE FINANCIAL INC | Reduced | -995.4k |
| Nuveen Asset Management, LLC | Reduced | -702.7k |
| STATE STREET CORP | Reduced | -561.5k |
| Artal Group S.A. | Sold out | -500.0k |
| GOLDMAN SACHS GROUP INC | Reduced | -469.1k |
| JANUS HENDERSON GROUP PLC | Reduced | -435.1k |
| Balyasny Asset Management L.P. | Sold out | -382.7k |
| Lion Point Capital, LP | Reduced | -346.8k |
Biggest calls
| Ikarian Capital, LLC | New | $3.4m200.0k shares |
| Caption Management, LLC | Added | $1.8m108.0k shares |
| CITADEL ADVISORS LLC | Added | $1.0m59.3k shares |
| BOOTHBAY FUND MANAGEMENT, LLC | New | $693.9k40.7k shares |
| JANE STREET GROUP, LLC | Added | $678.6k39.8k shares |
| SIMPLEX TRADING, LLC | Added | $647.0k38.0k shares |
| CITIGROUP INC | Added | $508.1k29.8k shares |
| Walleye Capital LLC | New | $351.2k20.6k shares |
| GROUP ONE TRADING LLC | Reduced | $213.1k12.5k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $197.8k11.6k shares |
Biggest puts
| Portman Square Capital LLP | New | $3.7m219.4k shares |
| Caption Management, LLC | New | $1.8m108.0k shares |
| CITIGROUP INC | Added | $508.1k29.8k shares |
| WOLVERINE ASSET MANAGEMENT LLC | Reduced | $206.3k12.1k shares |
| CITADEL ADVISORS LLC | Reduced | $175.6k10.3k shares |
| Walleye Trading LLC | Reduced | $138.1k8.1k shares |
| Walleye Capital LLC | New | $46.0k2.7k shares |
| Cutler Group LLC / CA | New | $13.0k4.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| FMR LLC 13G · institution +1.3 pts · filed 2026-08-06 | 7.4% |
| BlackRock, Inc. 13G · institution +1.5 pts · filed 2026-01-21 | 6.6% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.3% |
Fell to 5% or below in the last year: Darwin Global Management, Ltd. (3.0%, 2026-08-14), JPMORGAN CHASE & CO (4.7%, 2026-07-22), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q1 2023
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2021 | 0 | — | 0 | — | — |
| Q3 2021 | 0 | — | 0 | — | — |
| Q4 2021 | 2 | $730.5k | 2 | $4.5m | — |
| Q1 2022 | 0 | — | 6 | $3.1m | — |
| Q2 2022 | 1 | $344.0k | 6 | $389.7k | — |
| Q3 2022 | 0 | — | 3 | $8.3m | — |
| Q4 2022 | 2 | $1.3m | 2 | $357.7k | — |
| Q1 2023 | 0 | — | 7 | $679.5k | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2023-01-10 | Lewis William Chair and CEO, director | Sold | $125.9k7.0k shares |
| 2023-01-10 | Flammer Martina M.D. Chief Medical Officer | Sold | $62.1k3.4k shares |
| 2023-01-10 | Adsett Roger Chief Operating Officer | Sold | $57.5k3.2k shares |
| 2023-01-10 | Bonstein Sara Chief Financial Officer | Sold | $51.8k2.9k shares |
| 2023-01-10 | Schaeffer Orlov S Nicole Chief People Strategy Officer | Sold | $43.7k2.4k shares |
| 2023-01-10 | Smith Michael Alexander General Counsel, Senior VP | Sold | $32.9k1.8k shares |
| 2023-01-10 | Wise John Drayton Chief Commercial Officer | Sold | $14.0k779 shares |
| 2023-01-05 | Lewis William Chair and CEO, director | Sold | $138.8k7.0k shares |
| 2023-01-05 | Adsett Roger Chief Operating Officer | Sold | $60.1k3.0k shares |
| 2023-01-05 | Schaeffer Orlov S Nicole Chief People Strategy Officer | Sold | $28.6k1.4k shares |
| 2023-01-05 | Flammer Martina M.D. Chief Medical Officer | Sold | $27.1k1.4k shares |
| 2023-01-05 | Wise John Drayton Chief Commercial Officer | Sold | $22.9k1.2k shares |
| 2023-01-05 | Smith Michael Alexander General Counsel, Senior VP | Sold | $14.2k720 shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q1 2023
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 13.4m $227.8m | Added +322.5k |
| BlackRock Inc. 0.01% of their portfolio | 10.1m $172.0m | Reduced -1.0m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 10.0m $170.2m | Added +4.2k |
| T. Rowe Price Investment Management, Inc. 0.10% of their portfolio | 8.4m $143.5m | Added +40.8k |
| FMR LLC 0.01% of their portfolio | 7.2m $122.3m | Added +3.4m |
| Deep Track Capital, LP 4.71% of their portfolio | 6.5m $110.8m | Added +2.2m |
| STATE STREET CORP 0.01% of their portfolio | 6.3m $107.8m | Reduced -561.5k |
| Palo Alto Investors LP 8.32% of their portfolio | 5.9m $100.4m | Added +18.2k |
| MACQUARIE GROUP LTD 0.08% of their portfolio | 4.1m $69.1m | Added +401.6k |
| PICTET ASSET MANAGEMENT SA 0.08% of their portfolio | 3.9m $67.0m | Reduced -55.8k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.22% of their portfolio | 3.7m $63.2m | Added +316.5k |
| FRANKLIN RESOURCES INC 0.03% of their portfolio | 3.5m $59.8m | Added +804 |
| Bellevue Group AG 0.81% of their portfolio | 3.3m $56.1m | Added +15.9k |
| MONTANOVA CAPITAL, LLC 2.41% of their portfolio | 2.9m $50.0m | Added +411.2k |
| Hudson Bay Capital Management LP 0.28% of their portfolio | 2.8m $47.9m | Added +1.4m |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 2.6m $44.8m | Added +129.3k |
| JANUS HENDERSON GROUP PLC 0.03% of their portfolio | 2.6m $43.7m | Reduced -435.1k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 2.5m $42.5m | Added +1.1m |
| ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio | 2.5m $42.2m | Reduced -129.8k |
| Holocene Advisors, LP 0.19% of their portfolio | 2.2m $37.8m | Added +76.3k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 2.0m $34.2m | Reduced -995.4k |
| SAMLYN CAPITAL, LLC 0.62% of their portfolio | 2.0m $33.7m | Added +39.3k |
| Polar Capital Holdings Plc 0.21% of their portfolio | 1.7m $28.8m | Added +150.0k |
| LOOMIS SAYLES & CO L P 0.05% of their portfolio | 1.6m $27.8m | Added +401.4k |
| Assenagon Asset Management S.A. 0.09% of their portfolio | 1.4m $24.0m | Added +359.2k |
| NOVO HOLDINGS A/S 1.51% of their portfolio | 1.3m $22.8m | Added +499.3k |
| GW&K Investment Management, LLC 0.22% of their portfolio | 1.3m $22.3m | Added +309.2k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 1.3m $22.2m | Added +2.6k |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 1.3m $21.4m | Reduced -47.5k |
| NORGES BANK 0.00% of their portfolio | 1.2m $20.3m | Reduced -151.4k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.06% of their portfolio | 1.0m $17.3m | Added +107.4k |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 1.0m $17.3m | Added +486.6k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 1.0m $17.2m | Reduced -391 |
| Candriam S.C.A. 0.11% of their portfolio | 997.1k $15.6m | Reduced -55.1k |
| EMERALD ADVISERS, LLC 0.81% of their portfolio | 990.8k $16.9m | Reduced -4.1k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 984.4k $16.8m | Added +298.0k |
| BARCLAYS PLC 0.02% of their portfolio | 936.9k $16.0m | Reduced -8.5k |
| EVENTIDE ASSET MANAGEMENT, LLC 0.29% of their portfolio | 912.1k $15.6m | Added +213.7k |
| EMERALD MUTUAL FUND ADVISERS TRUST 0.84% of their portfolio | 835.6k $14.2m | Added +88.5k |
| MORGAN STANLEY 0.00% of their portfolio | 787.5k $13.4m | Reduced -189.5k |
| AXA S.A. 0.04% of their portfolio | 764.8k $13.0m | Reduced -3.4k |
| First Light Asset Management, LLC 1.15% of their portfolio | 750.9k $12.8m | Added +1.9k |
| DEERFIELD MANAGEMENT COMPANY, L.P. 0.25% of their portfolio | 658.5k $11.2m | Reduced -5.6k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 584.0k $9.9m | Reduced -73.6k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 561.8k $9.6m | Reduced -469.1k |
| Connor, Clark & Lunn Investment Management Ltd. 0.05% of their portfolio | 516.4k $8.8m | Reduced -9.9k |
| SECTORAL ASSET MANAGEMENT INC 1.69% of their portfolio | 516.1k $8.8m | Unchanged |
| Ikarian Capital, LLC 3.43% of their portfolio | 485.0k $8.3m | New |
| TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio | 456.7k $7.8m | Added +1.7k |
| TWO SIGMA ADVISERS, LP 0.02% of their portfolio | 449.0k $7.7m | Added +140.0k |
| PANAGORA ASSET MANAGEMENT INC 0.05% of their portfolio | 448.6k $7.6m | Added +34.9k |
| FIL Ltd 0.01% of their portfolio | 439.5k $7.5m | Added +143.3k |
| VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 431.4k $7.4m | Added +136.4k |
| MPM BIOIMPACT LLC 1.77% of their portfolio | 399.2k $6.8m | Reduced -11.3k |
| EAGLE ASSET MANAGEMENT INC 0.04% of their portfolio | 396.4k $6.8m | Reduced -314.9k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 379.6k $6.5m | Reduced -150.6k |
| Rafferty Asset Management, LLC 0.04% of their portfolio | 378.2k $6.4m | Reduced -58.6k |
| Long Focus Capital Management, LLC 0.99% of their portfolio | 361.6k $6.2m | Added +36.6k |
| PEREGRINE CAPITAL MANAGEMENT LLC 0.18% of their portfolio | 361.6k $6.2m | Added +10.7k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 353.9k $6.0m | Reduced -702.7k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 352.8k $6.0m | Reduced -2.6k |
| TD Asset Management Inc 0.01% of their portfolio | 344.9k $5.9m | Reduced -3.3k |
| C WorldWide Group Holding A/S 0.08% of their portfolio | 343.1k $5.8m | Unchanged |
| BAKER BROS. ADVISORS LP 0.03% of their portfolio | 343.0k $5.8m | Added +323.1k |
| CITIGROUP INC 0.01% of their portfolio | 322.5k $5.5m | Added +110.1k |
| SCOUT INVESTMENTS, INC. 0.11% of their portfolio | 315.5k $5.4m | Reduced -3.6k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 315.4k $5.4m | Added +278.2k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 292.9k $5.0m | Reduced -97.1k |
| Swiss National Bank 0.00% of their portfolio | 292.4k $5.0m | Reduced -30.5k |
| Granahan Investment Management, LLC 0.14% of their portfolio | 264.2k $4.5m | Added +54.2k |
| WCM INVESTMENT MANAGEMENT, LLC 0.01% of their portfolio | 259.5k $4.4m | Reduced -187 |
| TWINBEECH CAPITAL LP 0.09% of their portfolio | 248.7k $4.2m | New |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 248.0k $4.2m | New |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 237.4k $4.0m | Reduced -189.9k |
| RICE HALL JAMES & ASSOCIATES, LLC 0.22% of their portfolio | 231.1k $3.9m | Reduced -16.5k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 230.2k $3.9m | Added +58.1k |
| Endurant Capital Management LP 2.01% of their portfolio | 230.0k $3.9m | Reduced -13.1k |
| California Public Employees Retirement System 0.00% of their portfolio | 229.6k $3.9m | Reduced -6.8k |
| OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) 0.09% of their portfolio | 211.3k $3.6m | New |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 204.9k $3.5m | Added +206 |
| Alyeska Investment Group, L.P. 0.03% of their portfolio | 200.0k $3.4m | Added +50.0k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 187.7k $3.2m | Added +5.3k |
| PUTNAM INVESTMENTS LLC 0.00% of their portfolio | 173.3k $3.0m | Reduced -81.2k |
| UBS Group AG 0.00% of their portfolio | 172.7k $2.9m | Reduced -134.2k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 169.3k $2.9m | Reduced -1.0k |
| TANG CAPITAL MANAGEMENT LLC 0.42% of their portfolio | 166.2k $2.8m | Unchanged |
| Thrivent Financial for Lutherans 0.01% of their portfolio | 163.2k $2.8m | New |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 148.8k $2.5m | Added +11.2k |
| SILVERARC CAPITAL MANAGEMENT, LLC 1.10% of their portfolio | 143.8k $2.5m | Added +19.3k |
| Hennion & Walsh Asset Management, Inc. 0.14% of their portfolio | 136.9k $2.3m | Added +7.4k |
| Legal & General Group Plc 0.00% of their portfolio | 131.9k $2.2m | Added +8.0k |
| Weiss Multi-Strategy Advisers LLC 0.05% of their portfolio | 127.8k $2.2m | Reduced -14.7k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 124.9k $2.1m | Reduced -9.2k |
| Swedbank AB 0.00% of their portfolio | 121.3k $2.1m | Unchanged |
| CREDIT SUISSE AG/ 0.00% of their portfolio | 117.9k $2.0m | Added +2.3k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 116.7k $2.0m | Added +95.6k |
| State of New Jersey Common Pension Fund D 0.01% of their portfolio | 111.1k $1.9m | Reduced -15.7k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 109.9k $1.9m | Reduced -5.1k |
| Invesco Ltd. 0.00% of their portfolio | 103.9k $1.8m | Added +10.0k |
| BOOTHBAY FUND MANAGEMENT, LLC 0.04% of their portfolio | 97.3k $1.7m | New |