Insmed, Inc. (NASDAQ:INSM) Shares Bought by Readystate Asset Management LP

Readystate Asset Management LP lifted its holdings in Insmed, Inc. (NASDAQ:INSM - Free Report) by 413.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 134,569 shares of the biopharmaceutical company's stock after buying an additional 108,379 shares during the period. Readystate Asset Management LP owned approximately 0.07% of Insmed worth $10,266,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of INSM. Cullen Frost Bankers Inc. lifted 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 buying an additional 221 shares during the period. Elequin Capital LP purchased a new stake in Insmed in the fourth quarter worth about $28,000. NBC Securities Inc. purchased a new position in shares of Insmed in the first quarter valued at about $49,000. Versant Capital Management Inc increased its holdings in shares of Insmed by 546.3% in the first quarter. Versant Capital Management Inc now owns 698 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 590 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Insmed by 60.0% in 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 during the last quarter.

Insmed Trading Up 0.1%

Shares of INSM stock traded up $0.08 during mid-day trading on Thursday, reaching $103.52. 1,643,403 shares of the stock traded hands, compared to its average volume of 4,173,491. Insmed, Inc. has a 1-year low of $60.40 and a 1-year high of $106.83. The stock's fifty day simple moving average is $89.13 and its two-hundred day simple moving average is $79.19. The company has a market cap of $19.64 billion, a price-to-earnings ratio of -17.40 and a beta of 0.90. The company has a quick ratio of 5.44, a current ratio of 5.86 and a debt-to-equity ratio of 11.38.

Insmed (NASDAQ:INSM - Get Free Report) last announced its 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 net margin of 265.93% and a negative return on equity of 446.98%. The business had revenue of $92.82 million for the quarter, compared to analysts' expectations of $91.63 million. During the same period in the prior year, the business earned ($1.06) earnings per share. The company's revenue for the quarter was up 22.9% compared to the same quarter last year. On average, research analysts anticipate that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $93.42, for a total value of $9,264,648.24. Following the completion of the sale, the insider directly owned 89,407 shares in the company, valued at $8,352,401.94. This trade represents a 52.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Sara Bonstein sold 58,400 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $102.67, for a total value of $5,995,928.00. Following the sale, the chief financial officer directly owned 73,505 shares in the company, valued at $7,546,758.35. This trade represents a 44.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 606,597 shares of company stock valued at $55,120,762 over the last quarter. Company insiders own 3.00% of the company's stock.

Analysts Set New Price Targets

INSM has been the topic of a number of recent research reports. The Goldman Sachs Group increased their price objective on shares of Insmed from $100.00 to $112.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Morgan Stanley increased their target price on Insmed from $102.00 to $108.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Royal Bank Of Canada raised their price target on shares of Insmed from $99.00 to $106.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. Bank of America raised their price objective on shares of Insmed from $94.00 to $109.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Insmed in a research note on Tuesday, June 10th. One analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $109.20.

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.