Cerity Partners LLC Boosts Stake in Insmed, Inc. (NASDAQ:INSM)

Cerity Partners LLC increased its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 72.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 31,438 shares of the biopharmaceutical company's stock after buying an additional 13,180 shares during the period. Cerity Partners LLC's holdings in Insmed were worth $2,398,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of INSM. Vanguard Group Inc. raised its position in shares of Insmed by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company's stock valued at $1,257,838,000 after buying an additional 1,075,796 shares in the last quarter. Darwin Global Management Ltd. raised its position in shares of Insmed by 23.5% during the 4th quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company's stock valued at $894,796,000 after buying an additional 2,463,261 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Insmed by 1.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,704,410 shares of the biopharmaceutical company's stock valued at $877,113,000 after buying an additional 123,429 shares in the last quarter. Capital International Investors raised its position in shares of Insmed by 9.1% during the 4th quarter. Capital International Investors now owns 7,116,997 shares of the biopharmaceutical company's stock valued at $491,357,000 after buying an additional 593,206 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Insmed by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 4,087,143 shares of the biopharmaceutical company's stock valued at $282,243,000 after buying an additional 273,759 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. HC Wainwright increased their price target on Insmed from $90.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Morgan Stanley raised their target price on shares of Insmed from $102.00 to $108.00 and gave the stock an "overweight" rating in a research report on Thursday. Wells Fargo & Company raised their target price on shares of Insmed from $107.00 to $119.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. UBS Group reduced their target price on shares of Insmed from $110.00 to $109.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Finally, Mizuho raised their target price on shares of Insmed from $96.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $108.47.

Insmed Price Performance

Shares of INSM stock opened at $102.56 on Friday. The company has a market capitalization of $19.46 billion, a PE ratio of -17.24 and a beta of 0.90. The firm has a fifty day simple moving average of $86.93 and a 200-day simple moving average of $78.56. The company has a current ratio of 5.86, a quick ratio of 5.44 and a debt-to-equity ratio of 11.38. Insmed, Inc. has a twelve month low of $60.40 and a twelve month high of $106.83.

Insmed (NASDAQ:INSM - Get Free Report) last issued its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing analysts' consensus estimates of ($1.36) by ($0.06). Insmed had a negative return on equity of 446.98% and a negative net margin of 265.93%. The business had revenue of $92.82 million for the quarter, compared to analyst estimates of $91.63 million. During the same period last year, the company posted ($1.06) earnings per share. The firm's revenue for the quarter was up 22.9% on a year-over-year basis. Equities research analysts anticipate that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Sara Bonstein sold 57,766 shares of Insmed stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $89.12, for a total value of $5,148,105.92. Following the transaction, the chief financial officer owned 103,412 shares of the company's stock, valued at $9,216,077.44. This trade represents a 35.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William Lewis sold 129,805 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $100.39, for a total transaction of $13,031,123.95. Following the transaction, the chief executive officer directly owned 233,924 shares in the company, valued at $23,483,630.36. This trade represents a 35.69% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 548,197 shares of company stock valued at $49,124,834. Corporate insiders own 3.00% of the company's stock.

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.

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