INSMNasdaqPharmaceutical PreparationsFiscal year ends December 31
INSMED Inc
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$95.29−0.98 (-1.02%)
Close on Oct 19, 2026
- Market cap
- $20.71B
- P/E (TTM)
- –
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
100.0%
224M of 218M shares
Institutional holders
665
119 new, 121 sold out
Net institutional buying
2M
In Q2 2026
Insider trades, 12 months
0 buys · 169 sales
Net sold $167.12M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Darwin Global Management, Ltd. | 16,805,184 | 7.80% | 13G (passive) amendment | Mar 31, 2026 |
| Abigail P. Johnson | 16,127,583 | 7.40% | 13G (passive) amendment | Jun 30, 2026 |
| BlackRock, Inc. | 14,121,445 | 6.60% | 13G (passive) amendment | Dec 31, 2025 |
| FMR LLC | 13,145,167 | 6.10% | 13G (passive) | Mar 31, 2026 |
| Vanguard Capital Management | 11,514,893 | 5.34% | 13G (passive) | Mar 31, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of INSM | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| FMR LLC | 16,143,583 | 7.39% | $1.72B | +2,983,416 | 0.07% |
| BlackRock, Inc. | 15,807,984 | 7.24% | $1.69B | −870,162 | 0.03% |
| JPMorgan Chase & Co | 10,428,170 | 4.78% | $1.09B | −13,722,329 | 0.06% |
| Vanguard Portfolio Management LLC | 10,407,962 | 4.77% | $1.11B | +36,160 | 0.05% |
| Vanguard Capital Management LLC | 9,790,865 | 4.48% | $1.04B | +148,734 | 0.02% |
| Baker Bros. Advisors LP | 8,796,111 | 4.03% | $937.84M | +1,375,000 | 4.70% |
| Capital International Investors | 8,238,124 | 3.77% | $878.34M | +2,642,930 | 0.18% |
| Darwin Global Management, Ltd. | 6,431,163 | 2.94% | $673.60M | −10,374,021 | 17.91% |
| Ameriprise Financial Inc | 6,179,571 | 2.83% | $658.88M | +3,121,853 | 0.13% |
| Orbis Allan Gray Ltd | 6,076,487 | 2.78% | $647.88M | +4,203,663 | 2.23% |
| State Street Corp | 6,052,174 | 2.77% | $645.28M | +500,475 | 0.02% |
| D. E. Shaw & Co., Inc. | 5,877,959 | 2.69% | $626.71M | +252,134 | 0.30% |
| Artisan Partners Limited Partnership | 5,441,718 | 2.49% | $580.20M | −1,085,583 | 0.92% |
| Rtw Investments, LP | 4,842,880 | 2.22% | $516.35M | – | 4.41% |
| Geode Capital Management, LLC | 4,220,155 | 1.93% | $448.76M | −230,234 | 0.02% |
| Price T Rowe Associates Inc /Md/ | 3,405,290 | 1.56% | $363.07K | +312,483 | 0.04% |
| Norges Bank | 3,377,641 | 1.55% | $360.12M | New | 0.04% |
| Jupiter Topco LLC | 2,605,181 | 1.19% | $277.78M | New | 0.11% |
| UBS Group AG | 2,584,446 | 1.18% | $275.55M | +846,965 | 0.04% |
| Citadel Advisors LLC | 2,556,973 | 1.17% | $272.62M | +374,402 | 0.03% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 665 | 224M | 100.0% | 119 / 245 | 232 / 121 | 50M | 47M |
| Q1 2026 | 674 | 222M | 100.0% | 101 / 288 | 215 / 95 | 47M | 22M |
| Q4 2025 | 677 | 219M | 100.0% | 201 / 239 | 182 / 81 | 36M | 52M |
| Q3 2025 | 566 | 235M | 100.0% | 130 / 195 | 196 / 72 | 57M | 34M |
| Q2 2025 | 516 | 212M | 96.9% | 131 / 165 | 189 / 52 | 45M | 33M |
| Q1 2025 | 441 | 200M | 91.7% | 57 / 185 | 150 / 48 | 22M | 13M |
| Q4 2024 | 438 | 193M | 88.2% | 75 / 178 | 144 / 44 | 20M | 18M |
| Q3 2024 | 414 | 191M | 87.6% | 77 / 185 | 114 / 38 | 44M | 17M |
| Q2 2024 | 378 | 179M | 82.0% | 130 / 132 | 100 / 37 | 54M | 28M |
| Q1 2024 | 288 | 152M | 69.8% | 47 / 97 | 97 / 29 | 19M | 18M |
| Q4 2023 | 271 | 152M | 69.8% | 48 / 93 | 86 / 25 | 17M | 13M |
| Q3 2023 | 252 | 148M | 67.9% | 50 / 85 | 76 / 19 | 16M | 11M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of INSM | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 6,884,530 | 3.15% | $734.03M | 0.03% | Jun 30, 2026 |
| Growth Fund of America | 6,254,890 | 2.86% | $668.71M | 0.19% | May 31, 2026 |
| JPMorgan Large Cap Growth Fund | 2,790,132 | 1.28% | $297.48M | 0.24% | Jun 30, 2026 |
| Vanguard Small-Cap Index Fund | 2,486,300 | 1.14% | $265.09M | 0.14% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 2,485,777 | 1.14% | $265.03M | 0.27% | Jun 30, 2026 |
| Vanguard Mid-Cap Index Fund | 2,348,216 | 1.08% | $250.37M | 0.11% | Jun 30, 2026 |
| Vanguard Growth Index Fund | 1,803,654 | 0.83% | $192.31M | 0.05% | Jun 30, 2026 |
| iShares Biotechnology ETF | 1,521,319 | 0.70% | $162.20M | 1.78% | Jun 30, 2026 |
| JPMorgan Mid Cap Growth Fund | 1,433,624 | 0.66% | $152.85M | 1.16% | Jun 30, 2026 |
| Vanguard Small-Cap Growth Index Fund | 1,432,968 | 0.66% | $152.78M | 0.32% | Jun 30, 2026 |
| JPMorgan Growth Advantage Fund | 1,376,019 | 0.63% | $146.71M | 0.65% | Jun 30, 2026 |
| iShares Russell Mid-Cap Growth ETF | 1,265,201 | 0.58% | $134.90M | 0.63% | Jun 30, 2026 |
| Strategic Advisers Fidelity U.S. Total Stock Fund | 1,260,807 | 0.58% | $134.79M | 0.05% | May 31, 2026 |
| Select Biotechnology Portfolio | 1,109,201 | 0.51% | $118.58M | 2.25% | May 31, 2026 |
| Fidelity Extended Market Index Fund | 1,098,781 | 0.50% | $117.47M | 0.27% | May 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| William Lewis | Chair and CEO, Director | 492,982 | 0.23% | Jul 24, 2026 |
| Roger Adsett | Chief Operating Officer | 338,594 | 0.16% | Aug 12, 2026 |
| Martina M.D. Flammer | Chief Medical Officer | 60,486 | 0.03% | Aug 7, 2026 |
| Samuele Butera | SVP, GM, Global Respiratory | 7,342 | 0.00% | Jun 24, 2026 |
| Michael Alexander Smith | Chief Legal Officer | 37,648 | 0.02% | Jun 24, 2026 |
| Sara Bonstein | Chief Financial Officer | 69,082 | 0.03% | Jun 5, 2026 |
| Orlov S. Nicole Schaeffer | Chief People Strategy Officer | 63,911 | 0.03% | Jan 6, 2026 |
| John Drayton Wise | Chief Commercial Officer | 133,015 | 0.06% | Feb 7, 2025 |
| David R. Brennan | Director | 99,238 | 0.05% | Sep 11, 2026 |
| Melvin Sharoky Md | Director | 267,901 | 0.12% | Aug 19, 2026 |
| Elizabeth M. Anderson | Director | 62,034 | 0.03% | May 15, 2026 |
| Leo Lee | Director | 57,971 | 0.03% | May 15, 2026 |
| Clarissa Desjardins | Director | 73,337 | 0.03% | May 15, 2026 |
| Carol Schafer | Director | 66,622 | 0.03% | May 15, 2026 |
| David W. J. McGirr | Director | 97,723 | 0.04% | Feb 11, 2026 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| David R. Brennan Director | Sep 9, 2026 | Sale | −25,000 | $124.00 | $3.10M | 39,238 |
| Melvin Sharoky Md Director | Aug 17, 2026 | Sale | −5,000 | $127.53 | $637.65K | 0 |
| Roger Adsett Chief Operating Officer | Aug 10, 2026 | Option exercise | +80,970 | $30.46 | $2.47M | 338,594 |
| Roger Adsett Chief Operating Officer | Aug 10, 2026 | Option exercise | +76,600 | $17.16 | $1.31M | 257,624 |
| Roger Adsett Chief Operating Officer | Aug 10, 2026 | Option exercise | +82,280 | $13.67 | $1.12M | 181,024 |
| Roger Adsett Chief Operating Officer | Aug 10, 2026 | Sale | −239,850 | $133.27 | $31.96M | 98,744 |
| Martina M.D. Flammer Chief Medical Officer | Aug 6, 2026 | Sale(10b5-1 plan) | −18,278 | $129.40 | $2.37M | 60,486 |
| Martina M.D. Flammer Chief Medical Officer | Aug 6, 2026 | Sale(10b5-1 plan) | −8,895 | $127.00 | $1.13M | 78,764 |
| Martina M.D. Flammer Chief Medical Officer | Aug 6, 2026 | Option exercise | +18,278 | $18.95 | $346.37K | 78,764 |
| Martina M.D. Flammer Chief Medical Officer | Aug 6, 2026 | Option exercise | +8,895 | $25.83 | $229.76K | 87,659 |
| William Lewis Chair and CEO, Director | Jul 23, 2026 | Sale(10b5-1 plan) | −5,872 | $106.43 | $624.96K | 259,058 |
| William Lewis Chair and CEO, Director | Jul 23, 2026 | Sale(10b5-1 plan) | −4,828 | $105.62 | $509.93K | 264,930 |
| William Lewis Chair and CEO, Director | Jul 23, 2026 | Option exercise | +4,440 | $17.16 | $76.19K | 269,758 |
| William Lewis Chair and CEO, Director | Jul 23, 2026 | Option exercise | +6,260 | $30.46 | $190.68K | 265,318 |
| William Lewis Chair and CEO, Director | Jul 9, 2026 | Sale(10b5-1 plan) | −5,005 | $116.55 | $583.33K | 264,752 |
| William Lewis Chair and CEO, Director | Jul 9, 2026 | Sale(10b5-1 plan) | −3,359 | $118.52 | $398.11K | 259,058 |
| William Lewis Chair and CEO, Director | Jul 9, 2026 | Sale(10b5-1 plan) | −2,335 | $117.62 | $274.64K | 262,417 |
| William Lewis Chair and CEO, Director | Jul 9, 2026 | Option exercise | +6,259 | $30.46 | $190.65K | 265,317 |
| William Lewis Chair and CEO, Director | Jul 9, 2026 | Option exercise | +4,440 | $17.16 | $76.19K | 269,757 |
| Martina M.D. Flammer Chief Medical Officer | Jul 6, 2026 | Sale(10b5-1 plan) | −4,854 | $109.02 | $529.18K | 67,934 |
| Martina M.D. Flammer Chief Medical Officer | Jul 6, 2026 | Option exercise | +4,357 | $19.74 | $86.01K | 72,788 |
| Martina M.D. Flammer Chief Medical Officer | Jul 6, 2026 | Option exercise | +7,945 | $29.13 | $231.44K | 68,431 |
| Martina M.D. Flammer Chief Medical Officer | Jul 6, 2026 | Sale(10b5-1 plan) | −7,448 | $110.60 | $823.75K | 60,486 |
| William Lewis Chair and CEO, Director | Jun 25, 2026 | Option exercise | +12,518 | $30.46 | $381.30K | 271,435 |
| William Lewis Chair and CEO, Director | Jun 25, 2026 | Option exercise | +8,880 | $17.16 | $152.38K | 280,315 |
| William Lewis Chair and CEO, Director | Jun 25, 2026 | Sale(10b5-1 plan) | −12,091 | $102.34 | $1.24M | 268,224 |
| William Lewis Chair and CEO, Director | Jun 25, 2026 | Sale(10b5-1 plan) | −1,836 | $103.10 | $189.29K | 266,388 |
| William Lewis Chair and CEO, Director | Jun 25, 2026 | Sale(10b5-1 plan) | −3,723 | $104.28 | $388.23K | 262,665 |
| William Lewis Chair and CEO, Director | Jun 25, 2026 | Sale(10b5-1 plan) | −2,456 | $105.27 | $258.54K | 260,209 |
| William Lewis Chair and CEO, Director | Jun 25, 2026 | Sale(10b5-1 plan) | −1,292 | $106.27 | $137.30K | 258,917 |
| Samuele Butera SVP, GM, Global Respiratory | Jun 23, 2026 | Award | +7,342 | – | – | 7,342 |
| Michael Alexander Smith Chief Legal Officer | Jun 22, 2026 | Sale(10b5-1 plan) | −1,806 | $95.82 | $173.05K | 37,648 |
| William Lewis Chair and CEO, Director | Jun 8, 2026 | Sale(10b5-1 plan) | −6,515 | $94.03 | $612.61K | 258,917 |
| Martina M.D. Flammer Chief Medical Officer | Jun 5, 2026 | Sale(10b5-1 plan) | −1,858 | $103.78 | $192.82K | 60,486 |
| Michael Alexander Smith Chief Legal Officer | Jun 3, 2026 | Sale | −2,159 | $102.27 | $220.80K | 39,454 |
| Martina M.D. Flammer Chief Medical Officer | Jun 3, 2026 | Sale(10b5-1 plan) | −2,566 | $102.27 | $262.42K | 62,344 |
| Sara Bonstein Chief Financial Officer | Jun 3, 2026 | Sale | −2,404 | $102.27 | $245.86K | 69,082 |
| Roger Adsett Chief Operating Officer | Jun 3, 2026 | Sale | −2,370 | $102.27 | $242.38K | 98,603 |
| William Lewis Chair and CEO, Director | Jun 3, 2026 | Sale | −7,605 | $102.27 | $777.76K | 265,432 |
| Michael Alexander Smith Chief Legal Officer | May 22, 2026 | Sale(10b5-1 plan) | −6,149 | $108.47 | $666.98K | 41,613 |
| William Lewis Chair and CEO, Director | May 18, 2026 | Sale(10b5-1 plan) | −11,836 | $106.39 | $1.26M | 281,012 |
| William Lewis Chair and CEO, Director | May 18, 2026 | Option exercise | +6,259 | $30.46 | $190.65K | 294,161 |
| William Lewis Chair and CEO, Director | May 18, 2026 | Option exercise | +4,440 | $17.16 | $76.19K | 298,601 |
| William Lewis Chair and CEO, Director | May 18, 2026 | Sale(10b5-1 plan) | −5,753 | $105.32 | $605.91K | 292,848 |
| William Lewis Chair and CEO, Director | May 18, 2026 | Sale(10b5-1 plan) | −7,975 | $106.97 | $853.09K | 273,037 |
| Martina M.D. Flammer Chief Medical Officer | May 14, 2026 | Sale(10b5-1 plan) | −10,479 | $117.54 | $1.23M | 64,910 |
| Leo Lee Director | May 13, 2026 | Award | +3,305 | – | – | 57,971 |
| Roger Adsett Chief Operating Officer | May 13, 2026 | Sale | −5,837 | $116.18 | $678.14K | 100,973 |
| Elizabeth M. Anderson Director | May 13, 2026 | Award | +3,305 | – | – | 62,034 |
| Sara Bonstein Chief Financial Officer | May 13, 2026 | Sale | −8,272 | $116.18 | $961.04K | 71,486 |
| Melvin Sharoky Md Director | May 13, 2026 | Award | +3,305 | – | – | 246,081 |
| William Lewis Chair and CEO, Director | May 13, 2026 | Sale | −13,283 | $116.18 | $1.54M | 287,902 |
| Martina M.D. Flammer Chief Medical Officer | May 13, 2026 | Sale(10b5-1 plan) | −3,384 | $116.18 | $393.15K | 75,389 |
| Martina M.D. Flammer Chief Medical Officer | May 13, 2026 | Sale(10b5-1 plan) | −4,470 | $112.76 | $504.04K | 78,773 |
| David R. Brennan Director | May 13, 2026 | Award | +3,305 | – | – | 64,238 |
| Carol Schafer Director | May 13, 2026 | Award | +3,305 | – | – | 66,622 |
| Clarissa Desjardins Director | May 13, 2026 | Award | +3,305 | – | – | 70,312 |
| Michael Alexander Smith Chief Legal Officer | May 13, 2026 | Sale | −4,109 | $116.18 | $477.38K | 47,762 |
| Martina M.D. Flammer Chief Medical Officer | May 11, 2026 | Sale(10b5-1 plan) | −830 | $101.18 | $83.98K | 83,243 |
| Martina M.D. Flammer Chief Medical Officer | May 11, 2026 | Sale(10b5-1 plan) | −12,119 | $100.35 | $1.22M | 84,073 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| David R. Brennan Director | Sep 10, 2026 | 25,000 | $3.10M | Sep 9, 2026 | Equity grant |
| Sharoky Melvin Director | Aug 17, 2026 | 5,000 | $637.64K | Aug 17, 2026 | PURCHASED |
| Adsett Roger Officer | Aug 10, 2026 | 239,850 | $31.96M | Aug 10, 2026 | Stock Plan Activity |
| Flammer Martina Officer | Aug 6, 2026 | 27,173 | $3.49M | Aug 6, 2026 | Stock Plan Activity |
| Lewis William Officer | Jul 23, 2026 | 10,700 | $1.13M | Jul 23, 2026 | Stock Plan Activity |
| Lewis William Officer | Jul 9, 2026 | 10,699 | $1.26M | Jul 9, 2026 | Stock Plan Activity |
| Flammer Martina Officer | Jul 6, 2026 | 12,302 | $1.35M | Jul 6, 2026 | Stock Plan Activity |
| Lewis William Officer | Jun 25, 2026 | 21,398 | $2.21M | Jun 25, 2026 | Stock Plan Activity |
| Smith Michael Officer | Jun 22, 2026 | 1,806 | $173.04K | Jun 22, 2026 | Stock Plan Activity |
| Lewis William Officer | Jun 8, 2026 | 6,515 | $612.58K | Jun 8, 2026 | Stock Plan Activity |
| Flammer Martina Officer | Jun 5, 2026 | 1,858 | $192.81K | Jun 5, 2026 | Stock Plan Activity |
| Bonstein Sara Officer | Jun 3, 2026 | 2,404 | $245.86K | Jun 3, 2026 | Stock plan activity |
| Flammer Martina Officer | Jun 3, 2026 | 2,566 | $262.42K | Jun 3, 2026 | Stock Plan Activity |
| Adsett Roger Officer | Jun 3, 2026 | 2,370 | $242.38K | Jun 3, 2026 | Stock Plan Activity |
| Smith Michael Officer | Jun 3, 2026 | 2,159 | $220.80K | Jun 3, 2026 | Stock Plan Activity |