Eventide Asset Management LLC Has $90.16 Million Stock Position in Insmed, Inc. $INSM

Key Points

• Eventide Asset Management LLC increased its holdings in Insmed, Inc. by 7.3%, owning about 1,181,675 shares worth approximately $90.16 million, making it the firm's 8th largest holding.
• Insmed reported a loss of $1.70 per share in its latest earnings announcement, missing estimates, while revenue increased by 18.9% year-over-year to $107.42 million.
• Several analysts upgraded Insmed's stock, with price targets raised to between $120.00 and $171.00 and a general consensus rating of "Moderate Buy" based on strong analyst support.

Eventide Asset Management LLC boosted its stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 7.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,181,675 shares of the biopharmaceutical company's stock after acquiring an additional 80,682 shares during the period. Insmed accounts for 1.8% of Eventide Asset Management LLC's portfolio, making the stock its 8th largest holding. Eventide Asset Management LLC owned approximately 0.65% of Insmed worth $90,156,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of INSM. AQR Capital Management LLC grew its stake in Insmed by 2.1% during the fourth quarter. AQR Capital Management LLC now owns 64,171 shares of the biopharmaceutical company's stock valued at $4,430,000 after acquiring an additional 1,291 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Insmed during the fourth quarter valued at $227,000. Baird Financial Group Inc. purchased a new position in Insmed during the fourth quarter valued at $1,539,000. Cetera Investment Advisers grew its stake in Insmed by 15.0% during the fourth quarter. Cetera Investment Advisers now owns 10,154 shares of the biopharmaceutical company's stock valued at $701,000 after acquiring an additional 1,321 shares in the last quarter. Finally, Duquesne Family Office LLC grew its stake in Insmed by 2,867.4% during the fourth quarter. Duquesne Family Office LLC now owns 593,470 shares of the biopharmaceutical company's stock valued at $40,973,000 after acquiring an additional 573,470 shares in the last quarter.

Insider Transactions at Insmed

In related news, Director Melvin Md Sharoky sold 10,000 shares of Insmed stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $129.50, for a total transaction of $1,295,000.00. Following the completion of the sale, the director owned 274,516 shares in the company, valued at $35,549,822. This trade represents a 3.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Roger Adsett sold 25,000 shares of Insmed stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $127.58, for a total transaction of $3,189,500.00. Following the sale, the chief operating officer owned 105,637 shares of the company's stock, valued at $13,477,168.46. The trade was a 19.14% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 535,320 shares of company stock worth $54,581,793. 3.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

INSM has been the subject of several research analyst reports. Royal Bank Of Canada raised their target price on shares of Insmed from $108.00 to $120.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Bank of America lifted their price objective on shares of Insmed from $94.00 to $109.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. lifted their price objective on shares of Insmed from $111.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. William Blair began coverage on shares of Insmed in a research note on Wednesday, August 20th. They issued an "outperform" rating for the company. Finally, The Goldman Sachs Group lifted their price objective on shares of Insmed from $114.00 to $142.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Sixteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Insmed has a consensus rating of "Moderate Buy" and a consensus target price of $139.86.

Insmed Trading Up 1.1%

Shares of Insmed stock traded up $1.58 during trading on Monday, hitting $146.68. The stock had a trading volume of 1,589,444 shares, compared to its average volume of 2,796,530. The firm's fifty day simple moving average is $114.64 and its 200-day simple moving average is $89.74. The stock has a market cap of $31.01 billion, a PE ratio of -25.69 and a beta of 0.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 6.68 and a quick ratio of 6.33. Insmed, Inc. has a 12 month low of $60.40 and a 12 month high of $146.91.

Insmed (NASDAQ:INSM - Get Free Report) last released its 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 firm had revenue of $107.42 million during 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%.Insmed's revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the business posted ($1.94) EPS. Insmed has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Insmed, Inc. will post -4.56 EPS for the current fiscal 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.