Forum Financial Management LP Takes Position in Insmed, Inc. (NASDAQ:INSM)

Forum Financial Management LP purchased a new position in Insmed, Inc. (NASDAQ:INSM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,067 shares of the biopharmaceutical company's stock, valued at approximately $234,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Insmed by 6.3% in the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company's stock worth $1,257,838,000 after purchasing an additional 1,075,796 shares during the last quarter. Darwin Global Management Ltd. lifted its stake in Insmed by 23.5% in the fourth 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. Price T Rowe Associates Inc. MD lifted its stake in Insmed by 1.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,704,410 shares of the biopharmaceutical company's stock worth $877,113,000 after purchasing an additional 123,429 shares during the last quarter. Capital International Investors lifted its stake in Insmed by 9.1% in the fourth 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, Geode Capital Management LLC lifted its stake in Insmed by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 4,087,143 shares of the biopharmaceutical company's stock worth $282,243,000 after purchasing an additional 273,759 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Mizuho raised their price objective on shares of Insmed from $96.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 11th. Wells Fargo & Company raised their price objective on shares of Insmed from $107.00 to $119.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. HC Wainwright lifted their price target on shares of Insmed from $90.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. lifted their price target on shares of Insmed from $90.00 to $111.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Citigroup raised shares of Insmed to a "buy" rating in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a sell rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, Insmed currently has an average rating of "Moderate Buy" and a consensus target price of $108.47.

Insmed Stock Down 1.5%

NASDAQ INSM traded down $1.61 on Friday, hitting $102.56. The stock had a trading volume of 1,432,373 shares, compared to its average volume of 2,300,875. The business's fifty day moving average price is $86.93 and its 200 day moving average price is $78.63. 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 market cap of $19.46 billion, a price-to-earnings ratio of -17.24 and a beta of 0.90.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (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 firm had revenue of $92.82 million during the quarter, compared to analysts' expectations of $91.63 million. During the same period in the prior year, the firm posted ($1.06) earnings per share. Insmed's revenue for the quarter was up 22.9% compared to the same quarter last year. Equities research analysts anticipate that Insmed, Inc. will post -4.56 earnings per share for the current year.

Insider Activity

In other news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $93.42, for a total transaction of $9,264,648.24. Following the sale, the insider directly owned 89,407 shares of the company's stock, valued at $8,352,401.94. The trade was a 52.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sara Bonstein sold 57,766 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $89.12, for a total transaction of $5,148,105.92. Following the sale, the chief financial officer directly owned 103,412 shares in the company, valued at $9,216,077.44. This trade represents a 35.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 548,197 shares of company stock valued at $49,124,834 over the last three months. Company insiders own 3.00% of the company's stock.

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.