Adage Capital Partners GP L.L.C. Has $113.75 Million Holdings in Insmed Incorporated (NASDAQ:INSM)

Adage Capital Partners GP L.L.C. raised its stake in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 59.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,647,562 shares of the biopharmaceutical company's stock after purchasing an additional 615,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.92% of Insmed worth $113,748,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, COO Roger Adsett sold 42,975 shares of the firm's stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 146,082 shares in the company, valued at approximately $11,483,506.02. This trade represents a 22.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William Lewis sold 18,750 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $81.03, for a total value of $1,519,312.50. Following the sale, the chief executive officer now owns 334,186 shares of the company's stock, valued at $27,079,091.58. This trade represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 471,797 shares of company stock worth $37,621,239. Insiders own 3.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and set a $90.00 price objective on shares of Insmed in a research note on Tuesday, April 22nd. Wells Fargo & Company upped their price objective on shares of Insmed from $85.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $100.00 target price on shares of Insmed in a research note on Wednesday, March 19th. Stifel Nicolaus reduced their price target on shares of Insmed from $97.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. upped their price target on Insmed from $83.00 to $92.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, Insmed presently has an average rating of "Moderate Buy" and a consensus target price of $94.00.

Insmed Stock Down 0.3 %

Shares of INSM stock traded down $0.21 during trading hours on Monday, reaching $69.48. The company had a trading volume of 1,647,712 shares, compared to its average volume of 2,304,261. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $84.91. The company has a market capitalization of $12.63 billion, a P/E ratio of -12.44 and a beta of 1.07. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The stock's fifty day simple moving average is $74.38 and its 200 day simple moving average is $73.57.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $102.31 million. As a group, sell-side analysts expect that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Insmed Company Profile

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.