Insmed, Inc. $INSM Shares Sold by Cormorant Asset Management LP

Key Points

• Cormorant Asset Management LP sold 125,000 shares of Insmed, Inc., reducing its stake by 19.2%, leaving it with 525,000 shares, which represents approximately 3.0% of its holdings.
• Insmed reported a quarterly earnings miss with an EPS of ($1.70), falling short of the consensus estimate of ($1.30) but saw revenue growth of 18.9% year-over-year.
• Several institutional investors have increased their stakes in Insmed, with Cullen Frost Bankers Inc. raising its stake by 164.9% during the first quarter.

Cormorant Asset Management LP trimmed its holdings in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 19.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 525,000 shares of the biopharmaceutical company's stock after selling 125,000 shares during the period. Insmed makes up about 3.0% of Cormorant Asset Management LP's investment portfolio, making the stock its 9th biggest position. Cormorant Asset Management LP owned 0.29% of Insmed worth $40,052,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. AQR Capital Management LLC raised its holdings in shares of Insmed by 2.1% in the 4th quarter. AQR Capital Management LLC now owns 64,171 shares of the biopharmaceutical company's stock worth $4,430,000 after buying an additional 1,291 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Insmed in the fourth quarter valued at $227,000. Baird Financial Group Inc. bought a new position in shares of Insmed during the fourth quarter valued at $1,539,000. Cetera Investment Advisers boosted its stake in shares of Insmed by 15.0% in the 4th quarter. Cetera Investment Advisers now owns 10,154 shares of the biopharmaceutical company's stock valued at $701,000 after purchasing an additional 1,321 shares in the last quarter. Finally, Duquesne Family Office LLC lifted its holdings in Insmed by 2,867.4% during the 4th quarter. Duquesne Family Office LLC now owns 593,470 shares of the biopharmaceutical company's stock valued at $40,973,000 after purchasing an additional 573,470 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on INSM shares. Mizuho lifted their target price on shares of Insmed from $130.00 to $165.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. Leerink Partners lifted their price objective on Insmed from $100.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Wells Fargo & Company increased their target price on Insmed from $140.00 to $171.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Bank of America increased 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, Truist Financial raised their price objective on shares of Insmed from $126.00 to $139.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. 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.com, Insmed has an average rating of "Moderate Buy" and an average target price of $139.86.

Insider Transactions at Insmed

In other Insmed news, CEO William Lewis sold 129,805 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $100.39, for a total value of $13,031,123.95. Following the completion of the sale, the chief executive officer directly owned 233,924 shares in the company, valued at $23,483,630.36. This represents a 35.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total value of $9,264,648.24. Following the sale, the insider directly owned 89,407 shares in the company, valued at approximately $8,352,401.94. This represents a 52.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 535,320 shares of company stock valued at $54,581,793. Insiders own 3.00% of the company's stock.

Insmed Trading Up 1.1%

NASDAQ INSM traded up $1.58 on Monday, reaching $146.68. The company had a trading volume of 1,589,445 shares, compared to its average volume of 2,796,460. The stock has a market cap of $31.01 billion, a price-to-earnings ratio of -25.69 and a beta of 0.96. The stock's 50 day moving average is $114.64 and its 200-day moving average is $89.74. The company has a quick ratio of 6.33, a current ratio of 6.68 and a debt-to-equity ratio of 0.45. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $146.91.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.30) by ($0.40). The firm had revenue of $107.42 million for 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 revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.94) EPS. Insmed has set its FY 2025 guidance at EPS. Equities analysts predict that Insmed, Inc. will post -4.56 earnings per share for the current year.

Insmed 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.