American Century Investments Exits Position in Insmed Due to Disappointing Drug Uptake
In its second-quarter 2026 investor letter, American Century Investments Focused Dynamic Growth Fund announced the exit of its position in Insmed (NASDAQ:INSM), a clinical-stage biotechnology company. The decision was attributed to disappointing performance and uptake of Insmed's key drug, Brinsupri, despite addressing an unmet medical need. This move reflects shifting investment priorities toward more attractive stocks within the fund’s portfolio strategy. The broader market saw strong gains in U.S. equities during Q2 2026 due to robust earnings and AI-related momentum, though healthcare underperformed compared to other sectors like industrials. Insmed's stock closed at $128.80 on September 9, with a year-to-date decline of 11.65% despite a market cap of $28.13 billion. The fund’s performance lagged slightly behind the Russell 1000 Growth Index and emphasized bottom-up financial analysis to identify long-term growth opportunities while managing non-financial risks.
Tickers: $INSM
Topics: biotech investment fund update stock exit