Insmed, Inc. $INSM Position Lessened by Cormorant Asset Management LP

Cormorant Asset Management LP lowered its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 36.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 275,000 shares of the biopharmaceutical company’s stock after selling 155,000 shares during the quarter. Insmed makes up approximately 2.2% of Cormorant Asset Management LP’s holdings, making the stock its 11th largest position. Cormorant Asset Management LP owned approximately 0.13% of Insmed worth $47,861,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in Insmed by 65.6% in the second quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 263 shares during the period. First Trust Advisors LP increased its holdings in shares of Insmed by 80.8% in the 2nd quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock worth $4,770,000 after acquiring an additional 21,176 shares during the period. Baird Financial Group Inc. acquired a new stake in shares of Insmed in the 2nd quarter worth about $2,589,000. Amundi lifted its position in Insmed by 21,194.4% in the 2nd quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock valued at $1,130,000 after purchasing an additional 11,445 shares during the last quarter. Finally, Natixis bought a new stake in Insmed in the 2nd quarter valued at about $1,072,000.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $98.45 on Thursday. Insmed, Inc. has a one year low of $90.39 and a one year high of $212.75. The stock has a fifty day moving average of $120.61 and a 200-day moving average of $148.61. The company has a market capitalization of $21.34 billion, a PE ratio of -17.12 and a beta of 0.79. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47.

Insmed (NASDAQ:INSM) last issued 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 for 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%.The company’s quarterly revenue was up 229.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.42) EPS. As a group, equities analysts anticipate that Insmed, Inc. will post -2.54 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on INSM. Barclays raised their price target on shares of Insmed from $231.00 to $237.00 and gave the company an “overweight” rating in a research note on Wednesday, April 1st. Roth Mkm reissued a “buy” rating on shares of Insmed in a report on Monday, June 8th. Stifel Nicolaus boosted their price target on Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research note on Wednesday, June 10th. Finally, Guggenheim cut their price objective on Insmed from $230.00 to $226.00 and set a “buy” rating for the company in a report on Friday, May 8th. One 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 data from MarketBeat.com, Insmed has an average rating of “Moderate Buy” and a consensus price target of $211.86.

Insider Buying and Selling

In related news, CFO Sara Bonstein sold 2,404 shares of Insmed stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $245,857.08. Following the transaction, the chief financial officer owned 69,082 shares of the company’s stock, valued at approximately $7,065,016.14. This trade represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Alexander Smith sold 19,638 shares of the business’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $150.98, for a total value of $2,964,945.24. Following the sale, the insider owned 51,871 shares in the company, valued at approximately $7,831,483.58. The trade was a 27.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 149,783 shares of company stock worth $22,902,672. Company insiders own 2.10% of the company’s stock.

Insmed Profile

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.