Allostery Investments LP Invests $690,000 in Insmed Incorporated (NASDAQ:INSM)

Allostery Investments LP acquired a new stake in Insmed Incorporated (NASDAQ:INSM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,000 shares of the biopharmaceutical company's stock, valued at approximately $690,000. Insmed comprises about 0.7% of Allostery Investments LP's holdings, making the stock its 22nd largest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Steward Partners Investment Advisory LLC lifted its holdings in Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 163 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Insmed by 60.3% during the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 248 shares during the last quarter. Spire Wealth Management bought a new stake in shares of Insmed during the 4th quarter worth about $47,000. Smartleaf Asset Management LLC boosted its holdings in shares of Insmed by 98.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company's stock worth $57,000 after buying an additional 411 shares during the period. Finally, Venturi Wealth Management LLC acquired a new position in Insmed in the 4th quarter valued at about $86,000.

Insiders Place Their Bets

In other news, COO Roger Adsett sold 42,975 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $78.61, for a total transaction of $3,378,264.75. Following the completion of the transaction, the chief operating officer now directly owns 146,082 shares in the company, valued at approximately $11,483,506.02. This represents a 22.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Lewis sold 6,830 shares of the firm's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $70.16, for a total value of $479,192.80. Following the sale, the chief executive officer now directly owns 233,924 shares in the company, valued at approximately $16,412,107.84. This trade represents a 2.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 387,487 shares of company stock valued at $30,825,692. 3.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. UBS Group boosted their price objective on Insmed from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Cantor Fitzgerald restated an "overweight" rating on shares of Insmed in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated an "outperform" rating and set a $100.00 price objective on shares of Insmed in a research report on Wednesday, March 19th. JPMorgan Chase & Co. boosted their target price on shares of Insmed from $83.00 to $92.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $90.00 price target on shares of Insmed in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Insmed currently has an average rating of "Moderate Buy" and a consensus price target of $94.00.

Insmed Price Performance

NASDAQ:INSM traded down $0.34 during mid-day trading on Friday, reaching $72.30. The stock had a trading volume of 1,600,638 shares, compared to its average volume of 2,314,104. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $84.91. The stock has a market capitalization of $13.15 billion, a PE ratio of -12.93 and a beta of 1.07. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The stock has a 50-day simple moving average of $73.42 and a two-hundred day simple moving average of $73.45.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.15). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The business had revenue of $104.44 million during the quarter, compared to the consensus estimate of $102.31 million. On average, equities analysts anticipate that Insmed Incorporated will post -4.56 earnings per share for the current year.

About Insmed

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.