Ally Bridge Group NY LLC Has $6.49 Million Stake in Insmed, Inc. $INSM

Key Points

• Ally Bridge Group NY LLC decreased its stake in Insmed, Inc. by 25.6%, now holding 85,110 shares valued at approximately $6.49 million.
• Several institutional investors have made significant adjustments to their positions in Insmed, including Adage Capital, which increased its holdings by 109.2% to approximately $263 million.
• Analysts have raised their price targets for Insmed, with Jefferies boosting it from $129 to $148, and most analysts rating the stock as a "Buy."

Ally Bridge Group NY LLC decreased its position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 25.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 85,110 shares of the biopharmaceutical company's stock after selling 29,250 shares during the period. Insmed accounts for about 5.8% of Ally Bridge Group NY LLC's investment portfolio, making the stock its 7th largest position. Ally Bridge Group NY LLC's holdings in Insmed were worth $6,493,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. raised its position in shares of Insmed by 109.2% during the first quarter. Adage Capital Partners GP L.L.C. now owns 3,446,944 shares of the biopharmaceutical company's stock valued at $262,967,000 after buying an additional 1,799,382 shares during the last quarter. Nuveen LLC bought a new stake in shares of Insmed during the first quarter valued at approximately $88,351,000. Brown Advisory Inc. bought a new stake in shares of Insmed during the fourth quarter valued at approximately $45,773,000. Duquesne Family Office LLC raised its position in shares of Insmed by 2,867.4% during the fourth quarter. Duquesne Family Office LLC now owns 593,470 shares of the biopharmaceutical company's stock valued at $40,973,000 after buying an additional 573,470 shares during the last quarter. Finally, 1832 Asset Management L.P. bought a new stake in shares of Insmed during the first quarter valued at approximately $37,214,000.

Wall Street Analysts Forecast Growth

INSM has been the topic of several recent analyst reports. Mizuho lifted their price objective on shares of Insmed from $130.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday, August 13th. Morgan Stanley lifted their price objective on shares of Insmed from $126.00 to $144.00 and gave the company an "equal weight" rating in a research report on Thursday, August 21st. The Goldman Sachs Group lifted their price objective on shares of Insmed from $114.00 to $142.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. boosted their price target on shares of Insmed from $111.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Finally, Royal Bank Of Canada boosted their price target on shares of Insmed from $108.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Sixteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $134.79.

Insmed Price Performance

INSM traded up $2.57 during trading hours on Friday, hitting $145.10. The company's stock had a trading volume of 2,532,328 shares, compared to its average volume of 2,914,153. The business's 50-day moving average price is $114.64 and its 200-day moving average price is $89.70. Insmed, Inc. has a 12 month low of $60.40 and a 12 month high of $146.84. The stock has a market cap of $30.67 billion, a price-to-earnings ratio of -25.41 and a beta of 0.97. The company has a current ratio of 6.68, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45.

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

Insider Activity at Insmed

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of Insmed stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $93.42, for a total transaction of $9,264,648.24. Following the completion of the transaction, the insider directly owned 89,407 shares of the company's stock, valued at $8,352,401.94. The trade was a 52.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Roger Adsett sold 25,000 shares of Insmed stock in a transaction on 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 of the company's stock, valued at $13,477,168.46. The trade was a 19.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 535,320 shares of company stock valued at $54,581,793 over the last three months. Corporate insiders own 3.00% of the company's stock.

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.