Fred Alger Management LLC Has $28.86 Million Stake in Insmed, Inc. $INSM

Key Points

• Fred Alger Management LLC reduced its position in Insmed, Inc. by 1.8%, owning 378,331 shares after selling 7,129 shares in the first quarter.
• Multiple analysts have increased their price targets for Insmed, with new estimates ranging from $115.00 to $165.00, indicating strong potential upside in the stock.
• Insider sales have occurred, with CFO Sara Bonstein selling 58,400 shares, reducing her position by 44.27%, amidst a total of 535,320 shares sold by insiders in the last 90 days.

Fred Alger Management LLC lessened its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 378,331 shares of the biopharmaceutical company's stock after selling 7,129 shares during the quarter. Fred Alger Management LLC owned about 0.21% of Insmed worth $28,863,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of INSM. Cullen Frost Bankers Inc. raised its holdings in Insmed by 164.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 221 shares during the period. Elequin Capital LP acquired a new stake in shares of Insmed during the 4th quarter valued at about $28,000. NBC Securities Inc. acquired a new stake in shares of Insmed during the 1st quarter valued at about $49,000. Versant Capital Management Inc boosted its position in shares of Insmed by 546.3% during the 1st quarter. Versant Capital Management Inc now owns 698 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 590 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Insmed by 60.0% during the 1st quarter. Signaturefd LLC now owns 867 shares of the biopharmaceutical company's stock valued at $66,000 after acquiring an additional 325 shares in the last quarter.

Insmed Trading Up 0.1%

NASDAQ INSM traded up $0.13 during trading on Friday, reaching $145.92. 1,385,829 shares of the stock traded hands, compared to its average volume of 2,764,753. The firm has a market cap of $30.84 billion, a price-to-earnings ratio of -25.56 and a beta of 0.97. The stock's 50-day moving average price is $118.45 and its 200 day moving average price is $91.43. 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 fifty-two week low of $60.40 and a fifty-two week high of $149.08.

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. Insmed has set its FY 2025 guidance at EPS. Analysts predict that Insmed, Inc. will post -4.56 EPS for the current year.

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 Michael Alexander Smith sold 24,272 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $143.89, for a total transaction of $3,492,498.08. Following the sale, the insider directly owned 54,902 shares in the company, valued at $7,899,848.78. This trade represents a 30.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 378,382 shares of company stock valued at $40,169,038 in the last three months. 3.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Insmed from $126.00 to $144.00 and gave the company an "equal weight" rating in a report on Thursday, August 21st. Citigroup raised shares of Insmed to a "buy" rating in a research note on Tuesday, June 10th. Stifel Nicolaus boosted their price target on shares of Insmed from $121.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Truist Financial boosted their price target on shares of Insmed from $126.00 to $139.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. boosted their price target 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. Sixteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $139.86.

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.