Suvretta Capital Management LLC increased its position in Insmed Incorporated (NASDAQ:INSM – Get Rating) by 21.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,318,432 shares of the biopharmaceutical company's stock after acquiring an additional 236,900 shares during the period. Suvretta Capital Management LLC's holdings in Insmed were worth $30,983,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of INSM. Point72 Hong Kong Ltd acquired a new stake in Insmed in the fourth quarter worth about $45,000. Advisor Group Holdings Inc. lifted its stake 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 worth $58,000 after acquiring an additional 772 shares during the period. First Republic Investment Management Inc. boosted its holdings in shares of Insmed by 10.7% in the fourth quarter. First Republic Investment Management Inc. now owns 8,583 shares of the biopharmaceutical company's stock valued at $234,000 after acquiring an additional 832 shares in the last quarter. Duality Advisers LP bought a new stake in Insmed during the first quarter worth approximately $209,000. Finally, Calton & Associates Inc. boosted its stake in Insmed by 15.7% during the 1st quarter. Calton & Associates Inc. now owns 9,801 shares of the biopharmaceutical company's stock valued at $230,000 after purchasing an additional 1,331 shares in the last quarter.
Get Insmed alerts:Insmed Trading Up 0.4 %
NASDAQ:INSM traded up $0.11 during trading hours on Friday, hitting $24.83. 783,664 shares of the stock traded hands, compared to its average volume of 1,112,162. The firm has a 50 day moving average price of $24.31 and a 200 day moving average price of $22.53. Insmed Incorporated has a fifty-two week low of $16.41 and a fifty-two week high of $34.44. The company has a debt-to-equity ratio of 18.24, a current ratio of 5.93 and a quick ratio of 5.34.
Insmed (NASDAQ:INSM – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.09. The firm had revenue of $65.20 million during the quarter, compared to the consensus estimate of $58.92 million. Insmed had a negative return on equity of 154.14% and a negative net margin of 188.04%. The business's revenue for the quarter was up 43.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.94) EPS. As a group, equities analysts expect that Insmed Incorporated will post -3.4 EPS for the current fiscal year.Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the company. The Goldman Sachs Group cut their price objective on Insmed from $56.00 to $48.00 and set a "buy" rating for the company in a report on Tuesday, May 24th. Morgan Stanley cut their target price 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, Credit Suisse Group lifted their price target on shares of Insmed to $58.00 in a research report on Tuesday, August 9th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Insmed presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.86.
Insider Activity at Insmed
In other news, CEO William Lewis sold 216,800 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now directly owns 256,716 shares of the company's stock, valued at $7,146,973.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 314,355 shares of company stock valued at $8,279,853. Corporate insiders own 4.63% of the company's stock.
Insmed Company 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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