1832 Asset Management L.P. Purchases Shares of 487,800 Insmed, Inc. $INSM

Key Points

• 1832 Asset Management L.P. invested approximately $37.21 million in Insmed, acquiring 487,800 shares of the biopharmaceutical company in the first quarter.
• Multiple hedge funds, including Cullen Frost Bankers Inc. and Versant Capital Management Inc., significantly increased their positions in Insmed, reflecting growing interest from institutional investors.
• Analysts have raised their price targets for Insmed, with estimates reaching as high as $145.00, indicating a consensus "buy" rating from 16 analysts.

1832 Asset Management L.P. acquired a new position in Insmed, Inc. (NASDAQ:INSM - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 487,800 shares of the biopharmaceutical company's stock, valued at approximately $37,214,000. 1832 Asset Management L.P. owned 0.27% of Insmed at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of INSM. Renaissance Technologies LLC bought a new stake in shares of Insmed in the 4th quarter worth approximately $1,746,000. Jump Financial LLC acquired a new position in shares of Insmed in the 4th quarter worth approximately $230,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of Insmed by 4.1% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 39,379 shares of the biopharmaceutical company's stock worth $2,717,000 after buying an additional 1,568 shares in the last quarter. MML Investors Services LLC raised its holdings in shares of Insmed by 3.4% in the 4th quarter. MML Investors Services LLC now owns 22,955 shares of the biopharmaceutical company's stock worth $1,585,000 after buying an additional 754 shares in the last quarter. Finally, OneDigital Investment Advisors LLC raised its holdings in shares of Insmed by 11.7% in the 4th quarter. OneDigital Investment Advisors LLC now owns 3,553 shares of the biopharmaceutical company's stock worth $245,000 after buying an additional 372 shares in the last quarter.

Insmed Trading Up 3.0%

Shares of NASDAQ INSM traded up $3.85 during midday trading on Tuesday, hitting $132.17. The stock had a trading volume of 2,361,548 shares, compared to its average volume of 3,216,250. The company's 50-day simple moving average is $108.65 and its 200 day simple moving average is $86.38. The company has a debt-to-equity ratio of 0.45, a current ratio of 6.68 and a quick ratio of 6.33. The firm has a market cap of $27.94 billion, a P/E ratio of -23.15 and a beta of 0.95. Insmed, Inc. has a fifty-two week low of $60.40 and a fifty-two week high of $133.56.

Insmed (NASDAQ:INSM - Get Free Report) last posted its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.30) by ($0.40). The business had revenue of $107.42 million for the quarter, compared to the consensus estimate of $104.06 million. Insmed had a negative return on equity of 195.37% and a negative net margin of 259.82%.The business's revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.94) earnings per share. Insmed has set its FY 2025 guidance at EPS. Research analysts anticipate that Insmed, Inc. will post -4.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on INSM shares. HC Wainwright increased their target price on Insmed from $90.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Royal Bank Of Canada increased their target price on Insmed from $108.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Truist Financial increased their target price on Insmed from $126.00 to $139.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Citigroup raised Insmed to a "buy" rating in a report on Tuesday, June 10th. Finally, Mizuho increased their target price on Insmed from $130.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. Sixteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Insmed has an average rating of "Moderate Buy" and an average target price of $132.57.

Insider Activity

In other Insmed news, COO Roger Adsett sold 25,000 shares of Insmed stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $127.58, for a total transaction of $3,189,500.00. Following the transaction, the chief operating officer directly owned 105,637 shares in the company, valued at approximately $13,477,168.46. The trade was a 19.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sara Bonstein sold 58,400 shares of Insmed stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $102.67, for a total value of $5,995,928.00. Following the transaction, the chief financial officer owned 73,505 shares in the company, valued at approximately $7,546,758.35. This represents a 44.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 539,694 shares of company stock valued at $53,144,604. Company insiders own 3.00% of the company's stock.

Insmed 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.