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 ($3.5m this quarter). Holder counts are more reliable. Shares outstanding: 143.8m as of 2023-07-31, 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 ≈ $21.09. Options: 10 managers hold calls ($9.7m notional), 6 hold puts ($13.7m).
Trends to Q2 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 239 |
| Q4 2022 | 226 |
| Q1 2023 | 232 |
| Q2 2023 | 225 |
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 |
| Q2 2023 | 103 | 111 |
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 |
| Q2 2023 | $9.7m | $13.7m | 1.41 |
Biggest buyers
| RTW INVESTMENTS, LP | New | +1.0m |
| Balyasny Asset Management L.P. | New | +994.1k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | Added | +579.2k |
| MARSHALL WACE, LLP | New | +446.2k |
| Assenagon Asset Management S.A. | Added | +374.7k |
| Octagon Capital Advisors LP | New | +367.0k |
| MACQUARIE GROUP LTD | Added | +338.7k |
| Bleichroeder LP | Added | +299.4k |
| GOLDMAN SACHS GROUP INC | Added | +231.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +190.2k |
Biggest sellers
| FMR LLC | Reduced | -3.1m |
| Hudson Bay Capital Management LP | Reduced | -1.1m |
| BARCLAYS PLC | Reduced | -725.0k |
| CITADEL ADVISORS LLC | Reduced | -631.9k |
| JANUS HENDERSON GROUP PLC | Reduced | -366.0k |
| MORGAN STANLEY | Reduced | -362.0k |
| STATE STREET CORP | Reduced | -304.6k |
| BNP PARIBAS FINANCIAL MARKETS | Reduced | -283.5k |
| TWINBEECH CAPITAL LP | Sold out | -248.7k |
| PICTET ASSET MANAGEMENT SA | Reduced | -234.4k |
Biggest calls
| Ikarian Capital, LLC | Unchanged | $4.2m200.0k shares |
| Caption Management, LLC | Reduced | $1.9m88.0k shares |
| CITADEL ADVISORS LLC | Reduced | $1.1m50.6k shares |
| BOOTHBAY FUND MANAGEMENT, LLC | Unchanged | $858.8k40.7k shares |
| SIMPLEX TRADING, LLC | Added | $839.0k39.8k shares |
| GROUP ONE TRADING LLC | Added | $308.1k14.6k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $303.8k14.4k shares |
| JANE STREET GROUP, LLC | Reduced | $234.2k11.1k shares |
| Cutler Group LLC / CA | Unchanged | $1.0k4.0k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| Caption Management, LLC | Added | $7.0m331.5k shares |
| Portman Square Capital LLP | Unchanged | $4.6m219.4k shares |
| WOLVERINE ASSET MANAGEMENT LLC | Added | $1.2m54.7k shares |
| CITADEL ADVISORS LLC | Added | $453.6k21.5k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $413.6k19.6k shares |
| Cutler Group LLC / CA | Added | $32.0k19.0k 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), PRICE T ROWE ASSOCIATES INC /MD/ (3.3%, 2025-11-14)
Insider purchases and sales in Q2 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 |
|---|---|---|---|---|---|
| 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 | — |
| Q2 2023 | 1 | $385.8k | 7 | $1.2m | $344.4k |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2023-06-13 | Adsett Roger Chief Operating Officer | Sold plan | $173.5k9.0k shares |
| 2023-06-13 | Flammer Martina M.D. Chief Medical Officer | Sold plan | $170.9k8.9k shares |
| 2023-05-25 | Wise John Drayton Chief Commercial Officer | Sold | $63.8k3.4k shares |
| 2023-05-17 | Lewis William Chair and CEO, director | Sold | $128.6k7.1k shares |
| 2023-05-17 | Adsett Roger Chief Operating Officer | Sold | $44.4k2.4k shares |
| 2023-05-17 | Schaeffer Orlov S Nicole Chief People Strategy Officer | Sold | $35.8k2.0k shares |
| 2023-05-17 | Wise John Drayton Chief Commercial Officer | Sold | $34.8k1.9k shares |
| 2023-05-17 | Smith Michael Alexander General Counsel, Senior VP | Sold | $23.0k1.3k shares |
| 2023-05-16 | Lewis William Chair and CEO, director | Sold | $68.4k3.7k shares |
| 2023-05-16 | Flammer Martina M.D. Chief Medical Officer | Sold | $31.7k1.7k shares |
| 2023-05-16 | Bonstein Sara Chief Financial Officer | Sold | $29.7k1.6k shares |
| 2023-05-16 | Adsett Roger Chief Operating Officer | Sold | $28.0k1.5k shares |
| 2023-05-16 | Schaeffer Orlov S Nicole Chief People Strategy Officer | Sold | $22.5k1.2k shares |
| 2023-05-16 | Smith Michael Alexander General Counsel, Senior VP | Sold | $8.8k475 shares |
| 2023-05-16 | Wise John Drayton Chief Commercial Officer | Sold | $7.0k381 shares |
| 2023-05-15 | SHAROKY MELVIN MD Director | Bought | $192.9k10.0k shares |
| 2023-05-15 | SHAROKY MELVIN MD Director | Bought | $192.9k10.0k shares |
| 2023-05-15 | Lewis William Chair and CEO, director | Sold | $116.3k6.0k shares |
| 2023-05-15 | Adsett Roger Chief Operating Officer | Sold | $54.9k2.8k shares |
| 2023-05-15 | Flammer Martina M.D. Chief Medical Officer | Sold | $49.7k2.6k shares |
| 2023-05-15 | Bonstein Sara Chief Financial Officer | Sold | $42.7k2.2k shares |
| 2023-05-15 | Smith Michael Alexander General Counsel, Senior VP | Sold | $36.5k1.9k shares |
| 2023-05-15 | Schaeffer Orlov S Nicole Chief People Strategy Officer | Sold | $35.2k1.8k shares |
| 2023-05-15 | Wise John Drayton Chief Commercial Officer | Sold | $11.4k593 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, Q2 2023
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 13.3m $281.1m | Reduced -42.8k |
| BlackRock Inc. 0.01% of their portfolio | 10.3m $216.4m | Added +170.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 10.2m $214.6m | Added +190.2k |
| T. Rowe Price Investment Management, Inc. 0.12% of their portfolio | 8.3m $175.2m | Reduced -111.1k |
| Deep Track Capital, LP 6.41% of their portfolio | 6.5m $137.2m | Unchanged |
| STATE STREET CORP 0.01% of their portfolio | 6.0m $127.0m | Reduced -304.6k |
| Palo Alto Investors LP 10.04% of their portfolio | 5.9m $124.3m | Unchanged |
| MACQUARIE GROUP LTD 0.11% of their portfolio | 4.4m $92.7m | Added +338.7k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.29% of their portfolio | 4.3m $90.4m | Added +579.2k |
| FMR LLC 0.01% of their portfolio | 4.1m $86.2m | Reduced -3.1m |
| PICTET ASSET MANAGEMENT SA 0.09% of their portfolio | 3.7m $78.0m | Reduced -234.4k |
| FRANKLIN RESOURCES INC 0.03% of their portfolio | 3.4m $72.4m | Reduced -73.5k |
| Bellevue Group AG 0.99% of their portfolio | 3.3m $69.6m | Added +7.8k |
| MONTANOVA CAPITAL, LLC 3.51% of their portfolio | 3.1m $65.6m | Added +177.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 2.7m $57.0m | Added +77.9k |
| ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio | 2.5m $53.3m | Added +50.3k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 2.4m $51.7m | Reduced -45.3k |
| JANUS HENDERSON GROUP PLC 0.03% of their portfolio | 2.2m $46.3m | Reduced -366.0k |
| Holocene Advisors, LP 0.19% of their portfolio | 2.1m $43.9m | Reduced -132.3k |
| SAMLYN CAPITAL, LLC 0.72% of their portfolio | 2.0m $41.7m | Reduced -266 |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 1.9m $39.2m | Reduced -145.7k |
| Assenagon Asset Management S.A. 0.15% of their portfolio | 1.8m $37.6m | Added +374.7k |
| Hudson Bay Capital Management LP 0.36% of their portfolio | 1.7m $35.9m | Reduced -1.1m |
| Polar Capital Holdings Plc 0.24% of their portfolio | 1.7m $35.7m | Unchanged |
| LOOMIS SAYLES & CO L P 0.05% of their portfolio | 1.6m $34.0m | Reduced -14.9k |
| GW&K Investment Management, LLC 0.27% of their portfolio | 1.4m $28.6m | Added +48.2k |
| NOVO HOLDINGS A/S 2.18% of their portfolio | 1.3m $28.3m | Unchanged |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.3m $27.9m | Added +21.1k |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 1.3m $26.6m | Added +8.1k |
| NORGES BANK 0.00% of their portfolio | 1.2m $25.2m | Unchanged |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 1.0m $21.3m | Added +5.2k |
| RTW INVESTMENTS, LP 0.40% of their portfolio | 1.0m $21.1m | New |
| Balyasny Asset Management L.P. 0.06% of their portfolio | 994.1k $21.0m | New |
| EMERALD ADVISERS, LLC 0.91% of their portfolio | 989.0k $20.9m | Reduced -1.8k |
| EVENTIDE ASSET MANAGEMENT, LLC 0.33% of their portfolio | 912.1k $19.2m | Unchanged |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.06% of their portfolio | 864.6k $18.2m | Reduced -148.9k |
| AXA S.A. 0.06% of their portfolio | 850.1k $17.9m | Added +85.3k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 842.0k $17.8m | Reduced -142.4k |
| EMERALD MUTUAL FUND ADVISERS TRUST 0.96% of their portfolio | 835.3k $17.6m | Reduced -328 |
| Candriam S.C.A. 0.12% of their portfolio | 807.2k $17.0m | Reduced -189.9k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 793.7k $16.7m | Added +231.9k |
| DEERFIELD MANAGEMENT COMPANY, L.P. 0.30% of their portfolio | 658.5k $13.9m | Unchanged |
| First Light Asset Management, LLC 1.07% of their portfolio | 645.7k $13.6m | Reduced -105.2k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 605.1k $12.8m | Added +21.1k |
| TWO SIGMA ADVISERS, LP 0.03% of their portfolio | 569.1k $12.0m | Added +120.1k |
| MPM BIOIMPACT LLC 2.25% of their portfolio | 529.7k $11.2m | Added +130.6k |
| EAGLE ASSET MANAGEMENT INC 0.06% of their portfolio | 528.3k $11.1m | Added +132.0k |
| VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 521.0k $11.0m | Added +89.6k |
| SECTORAL ASSET MANAGEMENT INC 1.82% of their portfolio | 517.8k $10.9m | Added +1.7k |
| TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio | 488.8k $10.3m | Added +32.1k |
| Connor, Clark & Lunn Investment Management Ltd. 0.05% of their portfolio | 485.5k $10.2m | Reduced -30.9k |
| Ikarian Capital, LLC 3.45% of their portfolio | 485.0k $10.2m | Unchanged |
| PANAGORA ASSET MANAGEMENT INC 0.06% of their portfolio | 459.4k $9.7m | Added +10.8k |
| MARSHALL WACE, LLP 0.02% of their portfolio | 446.2k $9.4m | New |
| MORGAN STANLEY 0.00% of their portfolio | 425.5k $9.0m | Reduced -362.0k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 380.3k $8.0m | Reduced -631.9k |
| Long Focus Capital Management, LLC 1.19% of their portfolio | 371.6k $7.8m | Added +10.0k |
| Rafferty Asset Management, LLC 0.04% of their portfolio | 371.1k $7.8m | Reduced -7.1k |
| Octagon Capital Advisors LP 1.08% of their portfolio | 367.0k $7.7m | New |
| PEREGRINE CAPITAL MANAGEMENT LLC 0.21% of their portfolio | 361.5k $7.6m | Reduced -126 |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 361.1k $7.6m | Added +68.2k |
| FIL Ltd 0.01% of their portfolio | 356.4k $7.5m | Reduced -83.1k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 355.8k $7.5m | Added +1.9k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 352.8k $6.0m | Unchanged |
| C WorldWide Group Holding A/S 0.09% of their portfolio | 343.1k $7.2m | Unchanged |
| BAKER BROS. ADVISORS LP 0.04% of their portfolio | 343.0k $7.2m | Unchanged |
| TD Asset Management Inc 0.01% of their portfolio | 329.0k $6.9m | Reduced -15.9k |
| Bleichroeder LP 1.39% of their portfolio | 325.0k $6.9m | Added +299.4k |
| SCOUT INVESTMENTS, INC. 0.13% of their portfolio | 306.4k $6.2m | Reduced -9.1k |
| Swiss National Bank 0.00% of their portfolio | 297.0k $6.3m | Added +4.6k |
| WCM INVESTMENT MANAGEMENT, LLC 0.02% of their portfolio | 284.6k $6.0m | Added +25.1k |
| Granahan Investment Management, LLC 0.18% of their portfolio | 280.7k $5.9m | Added +16.5k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 256.3k $5.4m | Reduced -59.1k |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 256.2k $5.4m | Added +107.4k |
| RICE HALL JAMES & ASSOCIATES, LLC 0.27% of their portfolio | 229.3k $4.8m | Reduced -1.8k |
| BARCLAYS PLC 0.00% of their portfolio | 211.9k $4.5m | Reduced -725.0k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 198.6k $4.2m | Reduced -6.3k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 193.6k $4.1m | Added +5.9k |
| California Public Employees Retirement System 0.00% of their portfolio | 191.3k $4.0m | Reduced -38.3k |
| SG Americas Securities, LLC 0.03% of their portfolio | 171.8k $3.6m | Added +116.6k |
| UBS Group AG 0.00% of their portfolio | 168.8k $3.6m | Reduced -3.9k |
| TANG CAPITAL MANAGEMENT LLC 0.52% of their portfolio | 166.2k $3.5m | Unchanged |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 163.9k $3.5m | Reduced -5.4k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 157.6k $3.3m | Reduced -72.6k |
| Hennion & Walsh Asset Management, Inc. 0.20% of their portfolio | 156.6k $3.3m | Added +19.7k |
| CREDIT SUISSE AG/ 0.00% of their portfolio | 150.6k $3.2m | Added +32.6k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 147.5k $3.1m | Added +87.7k |
| CITIGROUP INC 0.00% of their portfolio | 147.1k $3.1m | Reduced -175.5k |
| SILVERARC CAPITAL MANAGEMENT, LLC 1.03% of their portfolio | 144.5k $3.0m | Added +670 |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 143.7k $3.0m | Added +27.1k |
| Legal & General Group Plc 0.00% of their portfolio | 133.6k $2.8m | Added +1.7k |
| Alyeska Investment Group, L.P. 0.02% of their portfolio | 127.5k $2.7m | Reduced -72.5k |
| State of New Jersey Common Pension Fund D 0.01% of their portfolio | 125.9k $2.7m | Added +14.8k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 118.7k $2.5m | Reduced -6.3k |
| OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) 0.05% of their portfolio | 112.3k $2.4m | Reduced -99.0k |
| Knights of Columbus Asset Advisors LLC 0.21% of their portfolio | 111.4k $2.4m | Added +14.5k |
| ESSEX INVESTMENT MANAGEMENT CO LLC 0.32% of their portfolio | 109.2k $2.3m | Added +16.0k |
| Invesco Ltd. 0.00% of their portfolio | 102.2k $2.2m | Reduced -1.8k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 102.1k $2.2m | Reduced -7.8k |
| ALPS ADVISORS INC 0.02% of their portfolio | 100.3k $2.1m | New |