Insmed, Inc. $INSM is First Turn Management LLC’s 3rd Largest Position

First Turn Management LLC trimmed its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 17.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 264,293 shares of the biopharmaceutical company’s stock after selling 55,480 shares during the period. Insmed comprises 5.3% of First Turn Management LLC’s holdings, making the stock its 3rd biggest position. First Turn Management LLC’s holdings in Insmed were worth $45,998,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its stake in shares of Insmed by 65.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 263 shares in the last quarter. First Trust Advisors LP grew its stake 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 buying an additional 21,176 shares in the last quarter. Baird Financial Group Inc. purchased a new position in shares of Insmed in the 2nd quarter worth $2,589,000. Amundi grew its stake in shares of Insmed by 21,194.4% in the 2nd quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock worth $1,130,000 after buying an additional 11,445 shares in the last quarter. Finally, Natixis purchased a new position in shares of Insmed in the 2nd quarter worth $1,072,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research note on Wednesday. Stifel Nicolaus lifted their price objective on shares of Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Jefferies Financial Group assumed coverage on shares of Insmed in a research note on Monday, March 16th. They issued a “buy” rating and a $228.00 price objective for the company. Truist Financial dropped their price objective on shares of Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Finally, Wells Fargo & Company dropped their price objective on shares of Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.50.

Insmed Price Performance

Insmed stock opened at $97.85 on Friday. The firm has a 50-day moving average price of $124.55 and a 200-day moving average price of $151.31. The firm has a market capitalization of $21.21 billion, a PE ratio of -17.02 and a beta of 0.79. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. Insmed, Inc. has a 12-month low of $90.39 and a 12-month high of $212.75.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.14. The firm had revenue of $305.96 million during the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business’s revenue was up 229.7% on a year-over-year basis. During the same quarter last year, the business earned ($1.42) EPS. As a group, equities research analysts forecast that Insmed, Inc. will post -2.54 EPS for the current year.

Insider Activity

In other news, CFO Sara Bonstein sold 2,404 shares of the firm’s stock in a transaction dated 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 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, insider Michael Alexander Smith sold 2,159 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $220,800.93. Following the completion of the sale, the insider owned 39,454 shares of the company’s stock, valued at $4,034,960.58. This trade represents a 5.19% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 160,482 shares of company stock worth $24,438,193 over the last 90 days. 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.