Beneficial Ownership changes:
Quaker BioVentures and FMR (aka Fidelity Biosciences, aka Beacon BioVentures) both increased their holdings by 17.9 and 17.6%, respectively (strangely similar increases).
TVM Capital and Prospect Venture partners both unchanged.
All of them are the former Transave VCs.
Quaker+Prospect+TVM+FMR = 7.31M shares.
Remember: Former Transave investors helped themselves to a total of 11.8M (split adjusted) shares in the new insmed (47.5%). I am unable to account for the missing 4.46M shares. Under the terms of the Merger Agreement, former Transave VCs were prohibited from selling until 1-Jun-11, and thereafter limited to selling 1/3 of their holdings every six months (a maximum of 3.86M shares during the 6/1 to 12/1/11 period). ...Feedback invited.
SEC demands only the listing of Beneficial Owners holding ≥5% of the outstanding shares. So we have to look at external analysis. Nasdaq has a comprehensive list, here:
So the ownership list (as of 31-Dec-11) can be filled out as follows:
Quaker BioVentures 2,195,463
FMR LLC 1,881,752
TVM Capital GmbH 1,627,854
Prospect Venture Partners 1,604,940
Blackrock Inc 1,328,167
Barclays Global Investors UK Holdings Ltd 689,325
Blackrock fund advisors 548,612
State Street Corp 376,126
Vanguard Group Inc 362,036
Northern Trust Corp 310,546
Palo Alto Investors LLC 266,299
D.E.Shaw & Co Inc 140,588
TIAA Cref Investment Management 136,023
California Public Employees Ret Sys 89,217
Bank of New York Mellon Corp 74,804
Blackrock Investment Management LLC 55,116
Franklin Street Advisors Inc 54,229
Geode Capital Management LLC 46,111
Charles Schwab Inv Management Inc 33,300
Madison Square Investors 32,723
Goldman Sachs Group 25,724
Morgan Stanley 23,648
Rhumbline Advisors 23,824
Manulife Asset Management 19,725
Nationwide Fund Advisors 19,781
Parametric Portfolio Associates 14,870
Two Sigma Investments 14,481
Blackrock Advisors LLC 14,472
Russel Frank Co 14,000
Bank of America 11,939
Deutsche Bank 5,597
Group One Trading LP 2,900
Barclays PLC 775
total shares outstanding 24,874,852
--> so, at least 50% of shares outstanding are in insty hands.
On the whole, there was increased (not decreased) investor interest thoughout this period. Maybe it was mostly Russell related... who knows.
On the one hand, if 50% of the float is in strong hands, I am less worried as a seriously-in-the-red long. But I am no less worried that I think the former transave VCs (and Sharoky) are ultimately undermining the stock price as part of some long-term strategy to bully retail investors out of their holdings on-the-cheap.
So, to anyone going to the shareholder meeting (and I'll bet you no one here actually does - except maybe Hhand and/or Frtgrdn):
Please press Kevin Tully regarding what are his plans with respect to raising additional capital going forward (after they burned >$33M of our money last year, whilst making no progress and awarding themselves stock and bonuses).
Money is cheap to borrow right now. Any cash insmed needs could be borrowed simply by issuance of notes that only issue stock upon default, but I'll bet in reality, insmed plans simply to dilutes us with more BS talk of "long-term shareholder value" and (guess what) FMR, Quaker and Prospect are the buyers, at $2 each.
Now watch this post vanish in a matter of hours...
Here is the most accurate and updated institutional holdings from Nasdaq;
Inst holding down to 21.65% AND some of the names on your list are gone. Here are the top three;
FMR LLC 12/31/2011 1,881,752
BARCLAYS GLOBAL INVESTORS UK HOLDINGS LTD 12/31/2011 689,325
BLACKROCK FUND ADVISORS 12/31/2011 548,612
I would be, if I were smarter :) No offence taken. I'm not a biotech guy and have learned a ton here. I just want to make some money. I don't know how to build a car, light bulb, or fly a plane either, however, that never stopped me from trying to make a little money in those sectors, to name a few.
Have a great day all (all longs that is). May the shorts and bashers load up on Prep H...they may need it soon.
Has the shareholders meeting been announced? I went a few years ago and the only thing of signifiance was that Sharoky told HHAND he would not give his kid Iplex. What a joke.
If it is in NJ I may go again, trouble is nothing is said and nothing will be this time as usual.
Holding on, but loosing faith.
The annual shareholder meeting has been announced:
NOTICE OF ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON MAY 24, 2012
NOTICE IS HEREBY GIVEN that the 2012 Annual Meeting of Shareholders of Insmed Incorporated will be held at the Sofitel Hotel 120 South 17th Street, Philadelphia, PA 19103 on May 24, 2012, at 9:00 a.m. local time, for the following purposes:
1. To elect two Class III directors to serve until the 2015 Annual Meeting of Shareholders;
2. To ratify the appointment of Ernst & Young LLP as our independent public accountants for the fiscal year ending December 31, 2012; and
3. To transact such other business as may properly come before the meeting.
Holders of record of shares of Insmed Common Stock at the close of business on March 30, 2012, will be entitled to vote at the meeting.
You are requested to complete, sign, date and return the enclosed proxy promptly, regardless of whether you expect to attend the Annual Meeting. A postage-paid return envelope is enclosed for your convenience. If you are present at the Annual Meeting, you may vote in person even if you already have sent in your proxy.
I hear your skepticism, but it would be good to attend, if your schedule allows and the location is convenient.
<<Now watch this post vanish in a matter of hours...>>
I don't know why your post would disappear. It was a nice analysis of INSM holders.
For the life of me I don't know why Insmed would raise funds anytime soon, but honest opinions should be welcome on this board. JMHO.