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 ($6.4m this quarter). Holder counts are more reliable. Shares outstanding: 148.6m as of 2024-05-06, 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 ≈ $27.13. Options: 31 managers hold calls ($68.3m notional), 20 hold puts ($84.5m).
Trends to Q1 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 239 |
| Q4 2022 | 226 |
| Q1 2023 | 232 |
| Q2 2023 | 225 |
| Q3 2023 | 254 |
| Q4 2023 | 273 |
| Q1 2024 | 290 |
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 |
| Q3 2023 | 133 | 95 |
| Q4 2023 | 131 | 111 |
| Q1 2024 | 141 | 126 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2023 | $9.7m | $13.7m | 1.41 |
| Q3 2023 | $9.3m | $40.6m | 4.38 |
| Q4 2023 | $10.0m | $52.2m | 5.19 |
| Q1 2024 | $68.3m | $84.5m | 1.24 |
Biggest buyers
| FMR LLC | Added | +4.2m |
| Capital International Investors | New | +1.6m |
| FIRST TRUST ADVISORS LP | Added | +1.3m |
| Integral Health Asset Management, LLC | Added | +950.0k |
| Clearbridge Investments, LLC | New | +930.4k |
| Assenagon Asset Management S.A. | Added | +927.0k |
| JANUS HENDERSON GROUP PLC | Added | +826.4k |
| FRONTIER CAPITAL MANAGEMENT CO LLC | New | +747.3k |
| GREAT POINT PARTNERS LLC | Added | +549.7k |
| AMERIPRISE FINANCIAL INC | Added | +452.8k |
Biggest sellers
| T. Rowe Price Investment Management, Inc. | Reduced | -2.4m |
| Holocene Advisors, LP | Sold out | -1.6m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -1.3m |
| Palo Alto Investors LP | Reduced | -1.1m |
| LOOMIS SAYLES & CO L P | Reduced | -839.7k |
| MACQUARIE GROUP LTD | Reduced | -752.0k |
| SAMLYN CAPITAL, LLC | Reduced | -699.2k |
| MONTANOVA CAPITAL, LLC | Reduced | -661.5k |
| Deep Track Capital, LP | Reduced | -566.3k |
| Balyasny Asset Management L.P. | Reduced | -493.0k |
Biggest calls
| Integral Health Asset Management, LLC | New | $13.6m500.0k shares |
| Ikarian Capital, LLC | Added | $9.4m347.2k shares |
| KINGDON CAPITAL MANAGEMENT, L.L.C. | New | $5.4m200.0k shares |
| JANE STREET GROUP, LLC | Added | $4.7m174.7k shares |
| CITIGROUP INC | Added | $4.2m155.6k shares |
| BOOTHBAY FUND MANAGEMENT, LLC | New | $3.8m139.2k shares |
| LMR Partners LLP | Added | $3.0m110.4k shares |
| J. Goldman & Co LP | New | $2.7m101.0k shares |
| SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC | New | $2.7m100.1k shares |
| Sofinnova Investments, Inc. | New | $2.7m100.0k shares |
Biggest puts
| Sio Capital Management, LLC | Added | $37.0m1.4m shares |
| Caption Management, LLC | Added | $16.5m609.7k shares |
| Balyasny Asset Management L.P. | Reduced | $14.5m533.1k shares |
| CITADEL ADVISORS LLC | Added | $3.5m128.3k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $2.1m76.8k shares |
| Ikarian Capital, LLC | New | $1.9m70.9k shares |
| Point72 Asset Management, L.P. | Unchanged | $1.6m59.2k shares |
| Hudson Bay Capital Management LP | Unchanged | $1.4m50.0k shares |
| BOOTHBAY FUND MANAGEMENT, LLC | New | $1.4m49.9k shares |
| WOLVERINE TRADING, LLC | Added | $1.1m41.8k 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 Q1 2024
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 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 |
| Q3 2023 | 0 | — | 1 | $14.9k | — |
| Q4 2023 | 0 | — | 4 | $4.7m | $4.7m |
| Q1 2024 | 0 | — | 7 | $3.7m | $3.0m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2024-01-12 | Adsett Roger Chief Operating Officer | Sold plan | $150.3k5.3k shares |
| 2024-01-12 | Flammer Martina M.D. Chief Medical Officer | Sold plan | $133.6k4.7k shares |
| 2024-01-10 | Adsett Roger Chief Operating Officer | Sold plan | $102.2k3.5k shares |
| 2024-01-10 | Flammer Martina M.D. Chief Medical Officer | Sold plan | $36.0k1.2k shares |
| 2024-01-09 | Lewis William Chair and CEO, director | Sold plan | $284.0k9.9k shares |
| 2024-01-09 | Flammer Martina M.D. Chief Medical Officer | Sold plan | $136.8k4.7k shares |
| 2024-01-09 | Bonstein Sara Chief Financial Officer | Sold | $131.2k4.5k shares |
| 2024-01-09 | Adsett Roger Chief Operating Officer | Sold plan | $112.2k3.8k shares |
| 2024-01-09 | Schaeffer Orlov S Nicole Chief People Strategy Officer | Sold plan | $105.8k3.7k shares |
| 2024-01-09 | Smith Michael Alexander General Counsel, Senior VP | Sold | $68.2k2.4k shares |
| 2024-01-09 | Wise John Drayton Chief Commercial Officer | Sold | $53.6k1.9k shares |
| 2024-01-08 | Lewis William Chair and CEO, director | Sold plan | $1.3m45.1k shares |
| 2024-01-05 | Lewis William Chair and CEO, director | Sold | $204.2k7.0k shares |
| 2024-01-05 | Adsett Roger Chief Operating Officer | Sold | $88.9k3.0k shares |
| 2024-01-05 | Schaeffer Orlov S Nicole Chief People Strategy Officer | Sold | $42.7k1.5k shares |
| 2024-01-05 | Flammer Martina M.D. Chief Medical Officer | Sold | $40.5k1.4k shares |
| 2024-01-05 | Wise John Drayton Chief Commercial Officer | Sold plan | $34.2k1.2k shares |
| 2024-01-05 | Smith Michael Alexander General Counsel, Senior VP | Sold | $18.4k627 shares |
| 2024-01-03 | Wise John Drayton Chief Commercial Officer · Stock Option (right to buy) | Sold plan | $585.9k20.1k 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 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 14.5m $393.6m | Added +383.7k |
| BlackRock Inc. 0.01% of their portfolio | 11.8m $320.1m | Added +307.4k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.04% of their portfolio | 10.8m $292.2m | Added +5.6k |
| FMR LLC 0.02% of their portfolio | 9.3m $252.8m | Added +4.2m |
| STATE STREET CORP 0.01% of their portfolio | 5.9m $160.2m | Reduced -24.8k |
| Deep Track Capital, LP 3.73% of their portfolio | 4.8m $129.8m | Reduced -566.3k |
| Palo Alto Investors LP 13.53% of their portfolio | 4.4m $120.0m | Reduced -1.1m |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.30% of their portfolio | 4.2m $114.3m | Reduced -42.0k |
| MACQUARIE GROUP LTD 0.12% of their portfolio | 3.9m $105.8m | Reduced -752.0k |
| FRANKLIN RESOURCES INC 0.03% of their portfolio | 3.6m $96.8m | Added +170.3k |
| T. Rowe Price Investment Management, Inc. 0.06% of their portfolio | 3.5m $93.6m | Reduced -2.4m |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 3.2m $85.8m | Added +94.4k |
| MORGAN STANLEY 0.00% of their portfolio | 2.8m $76.5m | Reduced -250.7k |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 2.7m $74.2m | Added +452.8k |
| JANUS HENDERSON GROUP PLC 0.03% of their portfolio | 2.2m $60.5m | Added +826.4k |
| ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio | 2.1m $58.2m | Reduced -1.4k |
| Bellevue Group AG 0.89% of their portfolio | 2.1m $58.1m | Reduced -149.1k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 2.1m $55.7m | Reduced -305.6k |
| MONTANOVA CAPITAL, LLC 2.32% of their portfolio | 2.0m $54.9m | Reduced -661.5k |
| RTW INVESTMENTS, LP 0.75% of their portfolio | 1.9m $50.6m | Unchanged |
| Capital International Investors 0.01% of their portfolio | 1.6m $44.0m | New |
| NORGES BANK 0.01% of their portfolio | 1.6m $43.1m | Added +135.5k |
| Pictet Asset Management Holding SA 0.05% of their portfolio | 1.5m $41.5m | Reduced -431.8k |
| LOOMIS SAYLES & CO L P 0.06% of their portfolio | 1.5m $40.5m | Reduced -839.7k |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 1.4m $39.0m | Added +79.7k |
| FIRST TRUST ADVISORS LP 0.04% of their portfolio | 1.4m $39.0m | Added +1.3m |
| NOVO HOLDINGS A/S 2.51% of their portfolio | 1.3m $36.3m | Unchanged |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.3m $36.3m | Reduced -35.4k |
| MARSHALL WACE, LLP 0.06% of their portfolio | 1.3m $36.1m | Reduced -109.7k |
| Integral Health Asset Management, LLC 3.46% of their portfolio | 1.3m $35.3m | Added +950.0k |
| GW&K Investment Management, LLC 0.30% of their portfolio | 1.3m $34.5m | Reduced -21.9k |
| Assenagon Asset Management S.A. 0.09% of their portfolio | 1.2m $32.9m | Added +927.0k |
| Octagon Capital Advisors LP 3.76% of their portfolio | 1.1m $30.9m | Reduced -144.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 1.1m $30.6m | Reduced -1.7k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 996.1k $27.0m | Reduced -47.7k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.07% of their portfolio | 972.3k $26.4m | Added +76.4k |
| Hood River Capital Management LLC 0.58% of their portfolio | 962.5k $26.1m | Added +56.7k |
| Clearbridge Investments, LLC 0.02% of their portfolio | 930.4k $25.2m | New |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 927.6k $25.2m | Reduced -118.7k |
| GREAT POINT PARTNERS LLC 3.28% of their portfolio | 775.6k $21.0m | Added +549.7k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 753.6k $20.4m | Reduced -8.2k |
| Vestal Point Capital, LP 1.68% of their portfolio | 750.0k $20.3m | Reduced -150.0k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 0.19% of their portfolio | 747.3k $20.3m | New |
| FIL Ltd 0.02% of their portfolio | 720.2k $19.5m | Added +28.8k |
| TWO SIGMA ADVISERS, LP 0.05% of their portfolio | 716.4k $19.4m | Added +87.2k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 702.6k $19.1m | Added +40.4k |
| EVENTIDE ASSET MANAGEMENT, LLC 0.27% of their portfolio | 635.2k $17.2m | Unchanged |
| EMERALD ADVISERS, LLC 0.69% of their portfolio | 630.2k $17.1m | Reduced -300.7k |
| Hudson Bay Capital Management LP 0.15% of their portfolio | 626.8k $17.0m | Added +159.3k |
| SAMLYN CAPITAL, LLC 0.28% of their portfolio | 587.6k $15.9m | Reduced -699.2k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 579.1k $15.7m | Reduced -185.9k |
| Cormorant Asset Management, LP 0.69% of their portfolio | 575.0k $15.6m | Unchanged |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 537.2k $14.6m | Added +160.0k |
| MPM BIOIMPACT LLC 2.33% of their portfolio | 530.8k $14.4m | Added +2.6k |
| EAGLE ASSET MANAGEMENT INC 0.07% of their portfolio | 524.4k $14.0m | Reduced -24.3k |
| PANAGORA ASSET MANAGEMENT INC 0.07% of their portfolio | 514.8k $14.0m | Added +85.8k |
| EMERALD MUTUAL FUND ADVISERS TRUST 0.68% of their portfolio | 484.7k $13.2m | Reduced -263.6k |
| VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 472.0k $12.8m | Reduced -32.2k |
| TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio | 460.2k $12.5m | Added +107.6k |
| KINGDON CAPITAL MANAGEMENT, L.L.C. 1.63% of their portfolio | 455.0k $12.3m | Reduced -355.0k |
| Cutter Capital Management, LP 2.38% of their portfolio | 454.7k $12.3m | Added +41.2k |
| Balyasny Asset Management L.P. 0.03% of their portfolio | 450.4k $12.2m | Reduced -493.0k |
| Long Focus Capital Management, LLC 1.35% of their portfolio | 431.6k $11.7m | Added +60.0k |
| TD Asset Management Inc 0.01% of their portfolio | 427.2k $11.6m | Reduced -36.4k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 407.0k $11.0m | Reduced -545 |
| Candriam S.C.A. 0.07% of their portfolio | 390.2k $10.6m | Added +80.0k |
| UBS Group AG 0.00% of their portfolio | 381.1k $10.3m | Added +80.9k |
| Schonfeld Strategic Advisors LLC 0.08% of their portfolio | 369.9k $10.0m | Added +290.5k |
| C WorldWide Group Holding A/S 0.11% of their portfolio | 343.1k $9.3m | Unchanged |
| BAKER BROS. ADVISORS LP 0.12% of their portfolio | 343.0k $9.3m | Unchanged |
| Ensign Peak Advisors, Inc 0.02% of their portfolio | 341.6k $9.3m | Added +271.6k |
| Rafferty Asset Management, LLC 0.03% of their portfolio | 329.6k $8.9m | Added +8.5k |
| CITIGROUP INC 0.01% of their portfolio | 326.6k $8.9m | Added +183.3k |
| Bleichroeder LP 2.20% of their portfolio | 325.0k $8.8m | Unchanged |
| WCM INVESTMENT MANAGEMENT, LLC 0.02% of their portfolio | 320.0k $8.7m | Added +24.7k |
| PEREGRINE CAPITAL MANAGEMENT LLC 0.23% of their portfolio | 290.2k $7.9m | Added +86 |
| AXA S.A. 0.02% of their portfolio | 288.6k $7.8m | Reduced -415.5k |
| First Light Asset Management, LLC 0.59% of their portfolio | 282.8k $7.7m | Reduced -363.3k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 276.6k $7.5m | Reduced -1.3m |
| SCOUT INVESTMENTS, INC. 0.18% of their portfolio | 275.7k $7.4m | Reduced -17.5k |
| STEMPOINT CAPITAL LP 1.97% of their portfolio | 272.4k $7.4m | Added +98.9k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 271.0k $7.4m | Added +158.0k |
| Swiss National Bank 0.01% of their portfolio | 268.4k $7.3m | Reduced -800 |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 254.6k $6.9m | Added +90.3k |
| Polar Capital Holdings Plc 0.04% of their portfolio | 251.7k $6.8m | Reduced -252.6k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.01% of their portfolio | 250.0k $6.8m | Reduced -350.0k |
| Soleus Capital Management, L.P. 0.60% of their portfolio | 250.0k $6.8m | Added +82.9k |
| Ally Bridge Group (NY) LLC 3.77% of their portfolio | 250.0k $6.8m | New |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 240.0k $6.5m | Added +18.4k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 232.7k $6.3m | Added +20.6k |
| BARCLAYS PLC 0.00% of their portfolio | 227.9k $6.2m | Reduced -106.6k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 207.7k $5.6m | Added +4.0k |
| Alyeska Investment Group, L.P. 0.03% of their portfolio | 200.0k $5.4m | New |
| Walleye Capital LLC 0.06% of their portfolio | 191.1k $5.2m | Added +72.7k |
| California Public Employees Retirement System 0.00% of their portfolio | 190.7k $5.2m | Reduced -588 |
| RICE HALL JAMES & ASSOCIATES, LLC 0.28% of their portfolio | 179.3k $4.9m | Reduced -41.9k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 174.0k $4.7m | Reduced -472.9k |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 170.9k $4.6m | Added +2.0k |
| Invesco Ltd. 0.00% of their portfolio | 167.6k $4.5m | Added +66.0k |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.21% of their portfolio | 166.4k $4.5m | New |