Rafferty Asset Management LLC Has $11.14 Million Stock Position in Insmed, Inc. $INSM

Key Points

• Rafferty Asset Management LLC has reduced its stake in Insmed, Inc. by 19.3% during the first quarter, now owning 145,984 shares valued at approximately $11.14 million.
• During the same period, Comerica Bank increased its position by 70.0%, owning 290,275 shares worth about $22.15 million.
• Insmed reported a net loss of $1.70 per share for the last quarter, missing analyst estimates, but experienced an 18.9% increase in revenue year-over-year, totaling $107.42 million.

Rafferty Asset Management LLC decreased its stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 19.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 145,984 shares of the biopharmaceutical company's stock after selling 34,929 shares during the quarter. Rafferty Asset Management LLC owned about 0.08% of Insmed worth $11,137,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in shares of Insmed in the first quarter valued at $88,351,000. Brown Advisory Inc. acquired a new stake in Insmed in the fourth quarter valued at $45,773,000. Duquesne Family Office LLC grew its holdings in shares of Insmed by 2,867.4% during the fourth quarter. Duquesne Family Office LLC now owns 593,470 shares of the biopharmaceutical company's stock worth $40,973,000 after purchasing an additional 573,470 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Insmed during the first quarter worth approximately $37,214,000. Finally, Wellington Management Group LLP grew its position in shares of Insmed by 62.5% during the first quarter. Wellington Management Group LLP now owns 1,222,627 shares of the biopharmaceutical company's stock worth $93,274,000 after acquiring an additional 470,401 shares during the last quarter.

Insider Activity

In other news, COO Roger Adsett sold 25,000 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $127.58, for a total transaction of $3,189,500.00. Following the completion of the sale, the chief operating officer directly owned 105,637 shares of the company's stock, valued at $13,477,168.46. This trade represents a 19.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total value of $9,264,648.24. Following the sale, the insider owned 89,407 shares in the company, valued at approximately $8,352,401.94. The trade was a 52.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 512,927 shares of company stock worth $51,227,401 in the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. UBS Group increased their target price on shares of Insmed from $124.00 to $133.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Morgan Stanley increased their price target on shares of Insmed from $126.00 to $144.00 and gave the stock an "equal weight" rating in a report on Thursday, August 21st. Truist Financial upped their target price on shares of Insmed from $126.00 to $139.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Royal Bank Of Canada upped their target price on shares of Insmed from $108.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, Jefferies Financial Group upped their price objective on Insmed from $129.00 to $148.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Sixteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $132.57.

Insmed Stock Up 6.8%

INSM stock opened at $145.30 on Wednesday. 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 $146.52. The firm's 50-day simple moving average is $112.13 and its 200 day simple moving average is $88.41. The stock has a market cap of $30.71 billion, a PE ratio of -25.45 and a beta of 0.97.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing analysts' consensus estimates of ($1.30) by ($0.40). Insmed had a negative return on equity of 195.37% and a negative net margin of 259.82%.The firm had revenue of $107.42 million during the quarter, compared to analyst estimates of $104.06 million. During the same period last year, the business earned ($1.94) EPS. The firm's revenue was up 18.9% on a year-over-year basis. Insmed has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Insmed, Inc. will post -4.56 EPS for the current year.

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.