Duquesne Family Office LLC Has $104.45 Million Position in Insmed, Inc. (NASDAQ:INSM)

Duquesne Family Office LLC increased its stake in Insmed, Inc. (NASDAQ:INSM - Free Report) by 130.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,369,050 shares of the biopharmaceutical company's stock after acquiring an additional 775,580 shares during the period. Insmed comprises approximately 3.4% of Duquesne Family Office LLC's portfolio, making the stock its 8th largest position. Duquesne Family Office LLC owned about 0.75% of Insmed worth $104,445,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INSM. Cullen Frost Bankers Inc. boosted its position in Insmed by 164.9% during the first quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 221 shares during the period. Elequin Capital LP purchased a new stake in Insmed during the fourth quarter valued at about $28,000. Steward Partners Investment Advisory LLC boosted its position in Insmed by 65.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 163 shares during the period. NBC Securities Inc. purchased a new stake in Insmed during the first quarter valued at about $49,000. Finally, Versant Capital Management Inc boosted its position in Insmed by 546.3% during the first quarter. Versant Capital Management Inc now owns 698 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 590 shares during the period.

Analysts Set New Price Targets

Several analysts have issued reports on INSM shares. The Goldman Sachs Group upped their price target on shares of Insmed from $100.00 to $112.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Leerink Partners upped their price target on shares of 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 upped their price target on shares of Insmed from $107.00 to $119.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Citigroup upgraded shares of Insmed to a "buy" rating in a research report on Tuesday, June 10th. Finally, Bank of America increased their target price on shares of Insmed from $94.00 to $109.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating and seventeen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $108.07.

Insmed Stock Up 1.6%

INSM traded up $1.52 on Friday, hitting $98.18. The company had a trading volume of 3,244,487 shares, compared to its average volume of 2,282,446. The company has a debt-to-equity ratio of 11.38, a current ratio of 5.86 and a quick ratio of 5.44. Insmed, Inc. has a 52-week low of $60.40 and a 52-week high of $106.83. The stock has a fifty day simple moving average of $83.40 and a 200-day simple moving average of $77.39. The firm has a market capitalization of $18.63 billion, a P/E ratio of -16.50 and a beta of 0.90.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) EPS for the quarter, missing the consensus estimate 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 company had revenue of $92.82 million during the quarter, compared to analysts' expectations of $91.63 million. During the same quarter last year, the business earned ($1.06) earnings per share. The business's quarterly revenue was up 22.9% on a year-over-year basis. As a group, equities analysts expect that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Insmed news, insider Michael Alexander Smith sold 1,879 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $73.50, for a total transaction of $138,106.50. Following the completion of the transaction, the insider owned 67,718 shares of the company's stock, valued at approximately $4,977,273. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David W. J. Mcgirr sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $73.27, for a total transaction of $219,810.00. Following the transaction, the director directly owned 97,723 shares of the company's stock, valued at $7,160,164.21. This represents a 2.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 546,516 shares of company stock valued at $48,737,083 over the last ninety days. 3.00% of the stock is owned by corporate insiders.

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.