Soleus Capital Management L.P. Purchases 290,000 Shares of Insmed Incorporated (NASDAQ:INSM)

Soleus Capital Management L.P. boosted its holdings in Insmed Incorporated (NASDAQ:INSM - Free Report) by 958.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 320,272 shares of the biopharmaceutical company's stock after buying an additional 290,000 shares during the period. Insmed makes up 1.4% of Soleus Capital Management L.P.'s investment portfolio, making the stock its 22nd biggest holding. Soleus Capital Management L.P. owned approximately 0.18% of Insmed worth $22,112,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its position in shares of Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 163 shares in the last quarter. V Square Quantitative Management LLC grew its position in shares of Insmed by 60.3% during the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 248 shares in the last quarter. Spire Wealth Management purchased a new position in shares of Insmed during the 4th quarter valued at $47,000. Smartleaf Asset Management LLC grew its position in shares of Insmed by 98.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company's stock valued at $57,000 after purchasing an additional 411 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of Insmed during the 4th quarter valued at $86,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on INSM shares. HC Wainwright restated a "buy" rating and set a $90.00 price target on shares of Insmed in a research report on Monday, May 12th. Royal Bank of Canada restated an "outperform" rating and set a $100.00 price target on shares of Insmed in a research report on Wednesday, March 19th. Cantor Fitzgerald restated an "overweight" rating on shares of Insmed in a research report on Wednesday, February 19th. 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 report on Friday, May 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Insmed from $83.00 to $92.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Insmed currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.63.

Insmed Trading Down 3.6%

NASDAQ INSM traded down $2.49 during trading on Wednesday, hitting $66.02. 2,144,969 shares of the company's stock traded hands, compared to its average volume of 2,331,073. The stock has a fifty day moving average of $71.11 and a two-hundred day moving average of $73.08. 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 12-month low of $21.92 and a 12-month high of $84.91. The firm has a market cap of $12.02 billion, a P/E ratio of -11.81 and a beta of 0.84.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly 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 251.24% and a negative return on equity of 4,773.73%. The business had revenue of $92.82 million for the quarter, compared to analysts' expectations of $91.63 million. During the same quarter in the previous year, the company earned ($1.06) earnings per share. The business's quarterly revenue was up 22.9% on a year-over-year basis. As a group, sell-side analysts expect that Insmed Incorporated will post -4.56 EPS for the current year.

Insider Buying and Selling at Insmed

In other Insmed news, CEO William Lewis sold 18,750 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $77.03, for a total transaction of $1,444,312.50. Following the completion of the sale, the chief executive officer now directly owns 334,186 shares in the company, valued at $25,742,347.58. This represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael Alexander Smith sold 4,407 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $67.81, for a total transaction of $298,838.67. Following the sale, the insider now owns 92,203 shares of the company's stock, valued at approximately $6,252,285.43. The trade was a 4.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 125,211 shares of company stock worth $8,837,158 over the last three months. Company insiders own 3.00% of the company's stock.

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.