Cetera Investment Advisers Acquires 10,525 Shares of Insmed, Inc. (NASDAQ:INSM)

Key Points

• Cetera Investment Advisers increased its stake in Insmed, Inc. by 103.7%, now holding 20,679 shares valued at $1,578,000.
• Multiple hedge funds, including the Teachers Retirement System of Kentucky, have also invested in Insmed, with new positions totaling over $975,000 during the same quarter.
• Insmed's recent quarterly earnings showed a revenue of $107.42 million, which is an 18.9% increase from the previous year, despite reporting a loss of ($1.70) EPS which was below analysts' expectations.

Cetera Investment Advisers boosted its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 103.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,679 shares of the biopharmaceutical company's stock after buying an additional 10,525 shares during the quarter. Cetera Investment Advisers' holdings in Insmed were worth $1,578,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Darwin Global Management Ltd. grew its position in Insmed by 23.5% in the 4th quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company's stock worth $894,796,000 after purchasing an additional 2,463,261 shares during the last quarter. Brown Advisory Inc. acquired a new stake in Insmed in the 4th quarter worth $45,773,000. Adage Capital Partners GP L.L.C. grew its position in Insmed by 59.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,647,562 shares of the biopharmaceutical company's stock worth $113,748,000 after purchasing an additional 615,000 shares during the last quarter. Capital International Investors grew its position in Insmed by 9.1% in the 4th quarter. Capital International Investors now owns 7,116,997 shares of the biopharmaceutical company's stock worth $491,357,000 after purchasing an additional 593,206 shares during the last quarter. Finally, Duquesne Family Office LLC grew its position in Insmed by 2,867.4% in the 4th quarter. Duquesne Family Office LLC now owns 593,470 shares of the biopharmaceutical company's stock worth $40,973,000 after purchasing an additional 573,470 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Citigroup upgraded shares of Insmed to a "buy" rating in a research report on Tuesday, June 10th. Mizuho raised their price objective on shares of Insmed from $96.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. HC Wainwright raised their price objective on shares of Insmed from $90.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Bank of America raised their price objective on shares of Insmed from $94.00 to $109.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Insmed in a report on Tuesday, June 10th. Sixteen research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $113.43.

Insider Buying and Selling at Insmed

In related news, CEO William Lewis sold 129,805 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $100.39, for a total transaction of $13,031,123.95. Following the completion of the transaction, the chief executive officer owned 233,924 shares in the company, valued at approximately $23,483,630.36. This represents a 35.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Martina M.D. Flammer sold 9,925 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $65.47, for a total transaction of $649,789.75. Following the transaction, the insider owned 86,596 shares of the company's stock, valued at $5,669,440.12. The trade was a 10.28% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 548,159 shares of company stock worth $51,140,221. Company insiders own 3.00% of the company's stock.

Insmed Stock Up 8.1%

Shares of Insmed stock traded up $9.11 on Tuesday, hitting $122.00. The company had a trading volume of 7,245,672 shares, compared to its average volume of 2,601,716. The firm has a market capitalization of $25.79 billion, a P/E ratio of -21.37 and a beta of 0.95. Insmed, Inc. has a twelve month low of $60.40 and a twelve month high of $122.03. 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 stock has a 50-day moving average of $100.45 and a 200-day moving average of $82.92.

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 for the quarter, missing the consensus estimate of ($1.30) by ($0.40). The company had revenue of $107.42 million during the quarter, compared to analyst estimates of $104.06 million. Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The firm's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the company earned ($1.94) EPS. Research analysts predict that Insmed, Inc. will post -4.56 earnings per share for the current year.

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.