Legato Capital Management LLC Has $3.19 Million Stake in Insmed, Inc. (NASDAQ:INSM)

Legato Capital Management LLC grew its holdings in Insmed, Inc. (NASDAQ:INSM - Free Report) by 13.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,857 shares of the biopharmaceutical company's stock after purchasing an additional 4,986 shares during the quarter. Legato Capital Management LLC's holdings in Insmed were worth $3,193,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Readystate Asset Management LP boosted its stake in Insmed by 413.8% during the 1st quarter. Readystate Asset Management LP now owns 134,569 shares of the biopharmaceutical company's stock worth $10,266,000 after acquiring an additional 108,379 shares during the last quarter. KLP Kapitalforvaltning AS boosted its stake in Insmed by 3.6% during the 1st quarter. KLP Kapitalforvaltning AS now owns 34,200 shares of the biopharmaceutical company's stock worth $2,609,000 after acquiring an additional 1,200 shares during the last quarter. GW&K Investment Management LLC boosted its stake in Insmed by 21.3% during the 1st quarter. GW&K Investment Management LLC now owns 1,377,726 shares of the biopharmaceutical company's stock worth $105,107,000 after acquiring an additional 242,333 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Insmed by 4.9% during the 1st quarter. Allianz Asset Management GmbH now owns 75,284 shares of the biopharmaceutical company's stock worth $5,743,000 after acquiring an additional 3,534 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new position in Insmed during the 1st quarter worth approximately $975,000.

Wall Street Analyst Weigh In

INSM has been the topic of several recent analyst reports. Royal Bank Of Canada lifted their price objective on shares of Insmed from $99.00 to $106.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 11th. UBS Group reduced their price objective on shares of Insmed from $110.00 to $109.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. The Goldman Sachs Group lifted their price objective on shares of Insmed from $100.00 to $112.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Jefferies Financial Group reissued a "buy" rating on shares of Insmed in a research note on Tuesday, June 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Insmed from $90.00 to $111.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. One research analyst has rated the stock with a sell rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $109.20.

Insider Buying and Selling at Insmed

In related 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 transaction, the insider directly owned 89,407 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, CEO William Lewis sold 6,830 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $102.37, for a total transaction of $699,187.10. Following the transaction, the chief executive officer owned 233,924 shares in the company, valued at approximately $23,946,799.88. The trade was a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 606,597 shares of company stock valued at $55,120,762 over the last ninety days. 3.00% of the stock is currently owned by company insiders.

Insmed Stock Up 0.4%

Shares of NASDAQ INSM traded up $0.43 during midday trading on Friday, reaching $103.95. The company's stock had a trading volume of 1,395,019 shares, compared to its average volume of 4,057,826. The company has a current ratio of 5.86, a quick ratio of 5.44 and a debt-to-equity ratio of 11.38. Insmed, Inc. has a fifty-two week low of $60.40 and a fifty-two week high of $106.83. The stock has a market capitalization of $19.72 billion, a price-to-earnings ratio of -17.47 and a beta of 0.90. The stock has a 50 day simple moving average of $90.57 and a 200-day simple moving average of $79.71.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $91.63 million. During the same quarter last year, the business earned ($1.06) earnings per share. Insmed's revenue for the quarter was up 22.9% on a year-over-year basis. Equities research analysts predict that Insmed, Inc. will post -4.56 earnings per share for the current 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.