Wealthfront Advisers LLC Has $3.01 Million Stock Position in Insmed, Inc. $INSM

Wealthfront Advisers LLC increased its stake in Insmed, Inc. (NASDAQ:INSM) by 84.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,404 shares of the biopharmaceutical company’s stock after purchasing an additional 8,413 shares during the quarter. Wealthfront Advisers LLC’s holdings in Insmed were worth $3,009,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of INSM. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Insmed in the first quarter worth approximately $177,000. MASTERINVEST Kapitalanlage GmbH acquired a new stake in shares of Insmed in the first quarter worth $759,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Insmed by 194.1% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,412 shares of the biopharmaceutical company’s stock worth $721,000 after buying an additional 2,912 shares during the period. Sanctuary Advisors LLC grew its holdings in shares of Insmed by 12.3% during the first quarter. Sanctuary Advisors LLC now owns 23,969 shares of the biopharmaceutical company’s stock valued at $3,919,000 after buying an additional 2,633 shares in the last quarter. Finally, Nwam LLC grew its holdings in shares of Insmed by 15.1% during the first quarter. Nwam LLC now owns 44,883 shares of the biopharmaceutical company’s stock valued at $7,339,000 after buying an additional 5,901 shares in the last quarter.

Insmed Stock Performance

Shares of Insmed stock opened at $108.32 on Monday. Insmed, Inc. has a 52 week low of $90.39 and a 52 week high of $212.75. The firm has a fifty day moving average of $105.72 and a two-hundred day moving average of $135.63. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. The stock has a market capitalization of $23.48 billion, a price-to-earnings ratio of -18.84 and a beta of 0.78.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. The business had revenue of $305.96 million during the quarter, compared to analysts’ expectations of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.Insmed’s revenue for the quarter was up 229.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.42) EPS. As a group, equities research analysts predict that Insmed, Inc. will post -2.43 EPS for the current year.

Insiders Place Their Bets

In related news, COO Roger Adsett sold 2,370 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $242,379.90. Following the transaction, the chief operating officer directly owned 98,603 shares of the company’s stock, valued at approximately $10,084,128.81. The trade was a 2.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sara Bonstein sold 2,404 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $245,857.08. Following the completion of the sale, the chief financial officer owned 69,082 shares in the company, valued at approximately $7,065,016.14. This trade represents a 3.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 54,590 shares of company stock worth $5,793,738 in the last three months. 2.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on INSM shares. Weiss Ratings restated a “sell (d-)” rating on shares of Insmed in a research report on Tuesday, April 21st. Leerink Partners lifted their price objective on shares of Insmed from $210.00 to $215.00 and gave the company an “outperform” rating in a research note on Tuesday, March 24th. Guggenheim reissued a “buy” rating and issued a $207.00 price target on shares of Insmed in a research report on Friday, July 10th. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research report on Wednesday, June 10th. Finally, HC Wainwright restated a “buy” rating on shares of Insmed in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and a consensus target price of $211.05.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.