Castleark Management LLC Grows Stock Holdings in Insmed Incorporated (NASDAQ:INSM)

Castleark Management LLC boosted its stake in Insmed Incorporated (NASDAQ:INSM - Free Report) by 21.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 52,780 shares of the biopharmaceutical company's stock after buying an additional 9,480 shares during the period. Castleark Management LLC's holdings in Insmed were worth $3,644,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Jennison Associates LLC boosted its stake in Insmed by 0.6% in the 4th quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company's stock valued at $53,424,000 after purchasing an additional 4,560 shares during the period. abrdn plc increased its position in Insmed by 159.5% during the fourth quarter. abrdn plc now owns 289,653 shares of the biopharmaceutical company's stock worth $19,998,000 after acquiring an additional 178,041 shares during the period. Moody Aldrich Partners LLC acquired a new stake in Insmed in the 4th quarter worth about $2,449,000. China Universal Asset Management Co. Ltd. boosted its holdings in Insmed by 14.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 37,934 shares of the biopharmaceutical company's stock valued at $2,619,000 after purchasing an additional 4,882 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Insmed by 8.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 423,094 shares of the biopharmaceutical company's stock worth $29,590,000 after purchasing an additional 32,960 shares in the last quarter.

Insmed Stock Up 1.1%

INSM traded up $0.76 during trading on Tuesday, hitting $68.29. 470,850 shares of the company's stock were exchanged, compared to its average volume of 2,326,649. Insmed Incorporated has a fifty-two week low of $44.51 and a fifty-two week high of $84.91. The stock has a market cap of $12.44 billion, a P/E ratio of -12.22 and a beta of 0.84. The business's 50 day moving average is $70.46 and its two-hundred day moving average is $73.02. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.36) by ($0.06). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The company had revenue of $92.82 million for the quarter, compared to analyst estimates of $91.63 million. During the same quarter last year, the firm posted ($1.06) EPS. Insmed's revenue for the quarter was up 22.9% on a year-over-year basis. As a group, equities analysts expect that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Insmed from $85.00 to $107.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Jefferies Financial Group began coverage on shares of Insmed in a report on Tuesday, May 13th. They set a "buy" rating and a $105.00 price target for the company. Truist Financial raised their target price on Insmed from $105.00 to $108.00 and gave the company a "buy" rating in a report on Friday, February 21st. Cantor Fitzgerald reissued an "overweight" rating on shares of Insmed in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. upped their price objective on Insmed from $83.00 to $92.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $94.63.

Insider Buying and Selling at Insmed

In other Insmed news, CEO William Lewis sold 18,750 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $77.79, for a total value of $1,458,562.50. Following the completion of the transaction, the chief executive officer now owns 334,186 shares of the company's stock, valued at $25,996,328.94. The trade was a 5.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Clarissa Desjardins acquired 1,130 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were bought at an average cost of $66.35 per share, with a total value of $74,975.50. Following the purchase, the director now owns 3,025 shares of the company's stock, valued at approximately $200,708.75. This trade represents a 59.63% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 153,098 shares of company stock valued at $10,724,192 in the last 90 days. 3.00% of the stock is currently owned by company insiders.

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.