Caxton Associates LLP acquired a new stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,785 shares of the biopharmaceutical company's stock, valued at approximately $441,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. boosted its position in Insmed by 164.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 221 shares during the period. Elequin Capital LP acquired a new stake in shares of Insmed during the fourth quarter valued at approximately $28,000. NBC Securities Inc. purchased a new stake in shares of Insmed in the first quarter worth approximately $49,000. Versant Capital Management Inc lifted its position in shares of Insmed by 546.3% in the first quarter. Versant Capital Management Inc now owns 698 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 590 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Insmed by 60.0% in the first quarter. Signaturefd LLC now owns 867 shares of the biopharmaceutical company's stock worth $66,000 after purchasing an additional 325 shares in the last quarter.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Morgan Stanley increased their price target on shares of Insmed from $126.00 to $144.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 21st. William Blair started coverage on Insmed in a report on Wednesday, August 20th. They set an "outperform" rating for the company. Truist Financial lifted their price target on Insmed from $126.00 to $139.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Bank of America lifted their price target on Insmed from $94.00 to $109.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Finally, Wells Fargo & Company lifted their price target on Insmed from $140.00 to $171.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Sixteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Insmed currently has an average rating of "Moderate Buy" and a consensus price target of $139.86.
Read Our Latest Analysis on INSM
Insider Activity at Insmed
In other news, CEO William Lewis sold 6,865 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $128.40, for a total transaction of $881,466.00. Following the completion of the sale, the chief executive officer owned 233,924 shares in the company, valued at approximately $30,035,841.60. This represents a 2.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Roger Adsett sold 25,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $127.58, for a total value of $3,189,500.00. Following the sale, the chief operating officer owned 105,637 shares of the company's stock, valued at approximately $13,477,168.46. This trade represents a 19.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 378,382 shares of company stock worth $40,169,038 in the last 90 days. Insiders own 3.00% of the company's stock.
Insmed Stock Performance
INSM opened at $145.93 on Friday. The company has a market cap of $30.85 billion, a PE ratio of -25.56 and a beta of 0.97. The stock has a 50-day moving average of $119.40 and a 200-day moving average of $91.91. Insmed, Inc. has a 52-week low of $60.40 and a 52-week high of $149.08. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.33 and a current ratio of 6.68.
Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.30) by ($0.40). The company 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% compared to the same quarter last year. During the same quarter last year, the company posted ($1.94) EPS. Insmed has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.
Insmed Company Profile
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Free Report)
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.
Further Reading
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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