AlphaCrest Capital Management LLC lifted its position in Insmed Incorporated (NASDAQ:INSM – Get Rating) by 111.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,677 shares of the biopharmaceutical company's stock after purchasing an additional 14,056 shares during the quarter. AlphaCrest Capital Management LLC's holdings in Insmed were worth $627,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Insmed in the first quarter worth about $302,000. Cetera Advisor Networks LLC increased its holdings in shares of Insmed by 15.1% in the first quarter. Cetera Advisor Networks LLC now owns 11,405 shares of the biopharmaceutical company's stock worth $268,000 after purchasing an additional 1,500 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Insmed in the first quarter worth about $286,000. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Insmed in the first quarter worth about $285,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Insmed by 2.5% in the first quarter. Principal Financial Group Inc. now owns 802,136 shares of the biopharmaceutical company's stock worth $18,850,000 after purchasing an additional 19,533 shares during the last quarter.
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Insmed Trading Down 2.4 %
INSM opened at $23.97 on Wednesday. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -6.83 and a beta of 1.83. The stock's 50 day moving average price is $23.71 and its 200-day moving average price is $22.46. Insmed Incorporated has a one year low of $16.41 and a one year high of $34.44. The company has a debt-to-equity ratio of 18.24, a quick ratio of 5.34 and a current ratio of 5.93.
Insmed (NASDAQ:INSM – Get Rating) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.80) EPS for the quarter, beating analysts' consensus estimates of ($0.89) by $0.09. The firm had revenue of $65.20 million for the quarter, compared to analysts' expectations of $58.92 million. Insmed had a negative return on equity of 154.14% and a negative net
margin of 188.04%. The company's quarterly revenue was up 43.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.94) earnings per share. On average, equities analysts forecast that Insmed Incorporated will post -3.4 EPS for the current year.
Wall Street Analysts Forecast Growth
INSM has been the topic of several research reports. Credit Suisse Group lifted their target price on Insmed to $58.00 in a report on Tuesday, August 9th. The Goldman Sachs Group reduced their price objective on Insmed from $56.00 to $48.00 and set a "buy" rating on the stock in a research note on Tuesday, May 24th. Finally, Morgan Stanley reduced their price objective on Insmed from $46.00 to $41.00 and set an "overweight" rating on the stock in a research note on Friday, July 15th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $50.86.
Insider Activity
In other news, CEO William Lewis sold 216,800 shares of the company's stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $27.84, for a total transaction of $6,035,712.00. Following the transaction, the chief executive officer now owns 256,716 shares of the company's stock, valued at $7,146,973.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 314,355 shares of company stock valued at $8,279,853. 4.40% of the stock is currently owned by insiders.
Insmed Profile
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Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed's first commercial product is ARIKAYCE (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.
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