GAMMA Investing LLC Acquires 76,354 Shares of Insmed Incorporated (NASDAQ:INSM)

GAMMA Investing LLC increased its stake in Insmed Incorporated (NASDAQ:INSM - Free Report) by 12,255.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,977 shares of the biopharmaceutical company's stock after purchasing an additional 76,354 shares during the period. GAMMA Investing LLC's holdings in Insmed were worth $58,730,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INSM. Darwin Global Management Ltd. raised its holdings in shares of Insmed by 23.5% during the fourth quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company's stock valued at $894,796,000 after buying an additional 2,463,261 shares during the last quarter. Norges Bank acquired a new stake in Insmed in the 4th quarter valued at approximately $126,606,000. Vanguard Group Inc. raised its stake in Insmed by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company's stock valued at $1,257,838,000 after acquiring an additional 1,075,796 shares in the last quarter. Brown Advisory Inc. acquired a new position in Insmed during the 4th quarter worth $45,773,000. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of Insmed by 59.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,647,562 shares of the biopharmaceutical company's stock worth $113,748,000 after purchasing an additional 615,000 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently weighed in on INSM shares. UBS Group reduced their price target on shares of Insmed from $110.00 to $109.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Jefferies Financial Group began coverage on Insmed in a research note on Tuesday, May 13th. They set a "buy" rating and a $105.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on Insmed from $83.00 to $92.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Royal Bank of Canada restated an "outperform" rating and issued a $100.00 price objective on shares of Insmed in a report on Wednesday, March 19th. Finally, Truist Financial lifted their target price on Insmed from $105.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $96.73.

Insmed Stock Down 1.3%

Shares of Insmed stock traded down $0.95 on Thursday, hitting $72.74. The company had a trading volume of 2,755,159 shares, compared to its average volume of 2,163,255. The stock has a 50-day moving average of $69.32 and a 200-day moving average of $72.99. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. Insmed Incorporated has a twelve month low of $55.74 and a twelve month high of $84.91. The firm has a market capitalization of $13.25 billion, a P/E ratio of -13.01 and a beta of 0.84.

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 for the quarter, missing analysts' consensus estimates of ($1.36) by ($0.06). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The firm had revenue of $92.82 million for the quarter, compared to analyst estimates of $91.63 million. During the same period last year, the company earned ($1.06) EPS. The company's revenue was up 22.9% compared to the same quarter last year. Research analysts predict that Insmed Incorporated will post -4.56 earnings per share for the current year.

Insider Activity

In other Insmed news, CFO Sara Bonstein sold 8,870 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $67.81, for a total transaction of $601,474.70. Following the transaction, the chief financial officer now owns 109,993 shares in the company, valued at $7,458,625.33. This represents a 7.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William Lewis sold 18,750 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $77.03, for a total value of $1,444,312.50. Following the transaction, the chief executive officer now owns 334,186 shares in the company, valued at approximately $25,742,347.58. This trade represents a 5.31% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 161,115 shares of company stock valued at $11,182,832. 3.00% of the stock is owned by company insiders.

Insmed Company 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.