Granahan Investment Management LLC raised its position in Insmed Incorporated (NASDAQ:INSM – Get Rating) by 12.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 343,877 shares of the biopharmaceutical company's stock after purchasing an additional 38,214 shares during the period. Granahan Investment Management LLC owned 0.29% of Insmed worth $8,081,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of INSM. Point72 Hong Kong Ltd purchased a new position in shares of Insmed in the 4th quarter valued at $45,000. Advisor Group Holdings Inc. grew its position in shares of Insmed by 56.4% in the 4th quarter. Advisor Group Holdings Inc. now owns 2,140 shares of the biopharmaceutical company's stock valued at $58,000 after buying an additional 772 shares during the last quarter. Duality Advisers LP purchased a new position in shares of Insmed in the 1st quarter valued at $209,000. Calton & Associates Inc. grew its position in shares of Insmed by 15.7% in the 1st quarter. Calton & Associates Inc. now owns 9,801 shares of the biopharmaceutical company's stock valued at $230,000 after buying an additional 1,331 shares during the last quarter. Finally, First Republic Investment Management Inc. grew its position in shares of Insmed by 10.7% in the 4th quarter. First Republic Investment Management Inc. now owns 8,583 shares of the biopharmaceutical company's stock valued at $234,000 after buying an additional 832 shares during the last quarter.
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Insmed Stock Up 0.4 %
INSM stock opened at $24.83 on Friday. Insmed Incorporated has a one year low of $16.41 and a one year high of $34.44. The stock has a market capitalization of $2.98 billion, a PE ratio of -7.07 and a beta of 1.83. The company has a debt-to-equity ratio of 18.24, a quick ratio of 5.34 and a current ratio of 5.93. The company has a fifty day moving average of $24.31 and a 200-day moving average of $22.53.
Insmed (NASDAQ:INSM – Get Rating) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.09. Insmed had a negative net
margin of 188.04% and a negative return on equity of 154.14%. The company had revenue of $65.20 million during the quarter, compared to analysts' expectations of $58.92 million. During the same quarter last year, the business earned ($0.94) EPS. The business's revenue was up 43.6% on a year-over-year basis. As a group, analysts expect that Insmed Incorporated will post -3.4 EPS for the current year.
Insider Transactions at Insmed
In related news, CEO William Lewis sold 216,800 shares of the firm's stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $27.84, for a total value of $6,035,712.00. Following the completion of the sale, the chief executive officer now owns 256,716 shares in the company, valued at $7,146,973.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 314,355 shares of company stock worth $8,279,853. Company insiders own 4.63% of the company's stock.
Wall Street Analyst Weigh In
INSM has been the topic of a number of recent analyst reports. Credit Suisse Group increased their target price on shares of Insmed to $58.00 in a research report on Tuesday, August 9th. Morgan Stanley decreased their price target on shares of Insmed from $46.00 to $41.00 and set an "overweight" rating for the company in a research note on Friday, July 15th. Finally, The Goldman Sachs Group decreased their price target on shares of Insmed from $56.00 to $48.00 and set a "buy" rating for the company in a research note on Tuesday, May 24th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $50.86.
About Insmed
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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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