Voloridge Investment Management LLC Sells 699,574 Shares of Insmed Incorporated (NASDAQ:INSM)

Voloridge Investment Management LLC reduced its position in Insmed Incorporated (NASDAQ:INSM - Free Report) by 94.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,377 shares of the biopharmaceutical company's stock after selling 699,574 shares during the quarter. Voloridge Investment Management LLC's holdings in Insmed were worth $2,719,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Darwin Global Management Ltd. raised its holdings in shares of Insmed by 23.5% in 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 purchasing an additional 2,463,261 shares during the last quarter. Norges Bank bought a new stake in Insmed during the fourth quarter valued at approximately $126,606,000. Vanguard Group Inc. raised its stake in shares of Insmed by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company's stock worth $1,257,838,000 after acquiring an additional 1,075,796 shares in the last quarter. Brown Advisory Inc. purchased a new position in shares of Insmed during the fourth quarter worth approximately $45,773,000. Finally, Adage Capital Partners GP L.L.C. increased 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 buying an additional 615,000 shares during the period.

Insmed Stock Up 1.1%

Shares of NASDAQ INSM traded up $0.76 on Friday, hitting $69.97. The company had a trading volume of 3,716,740 shares, compared to its average volume of 2,100,954. Insmed Incorporated has a 12-month low of $54.71 and a 12-month high of $84.91. The business has a 50 day moving average of $69.60 and a two-hundred day moving average of $72.95. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $12.74 billion, a P/E ratio of -12.52 and a beta of 0.84.

Insmed (NASDAQ:INSM - Get Free Report) last announced 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). The company had revenue of $92.82 million for the quarter, compared to analyst estimates of $91.63 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The firm's revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.06) earnings per share. As a group, equities research analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Insmed from $85.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Royal Bank of Canada restated an "outperform" rating and issued a $100.00 price target on shares of Insmed in a research note on Wednesday, March 19th. Cantor Fitzgerald restated an "overweight" rating on shares of Insmed in a report on Wednesday, February 19th. HC Wainwright reiterated a "buy" rating and issued a $90.00 target price on shares of Insmed in a research note on Monday, May 12th. Finally, Jefferies Financial Group started coverage on Insmed in a research note on Tuesday, May 13th. They set a "buy" rating and a $105.00 price target on the stock. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $96.73.

Insider Activity at Insmed

In related news, CEO William Lewis sold 18,750 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 334,186 shares in the company, valued at approximately $25,742,347.58. This represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Clarissa Desjardins acquired 1,130 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was bought at an average price of $66.35 per share, with a total value of $74,975.50. Following the acquisition, the director now directly owns 3,025 shares of the company's stock, valued at $200,708.75. The trade was a 59.63% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 153,098 shares of company stock valued at $10,724,192. Company insiders own 3.00% of the company's stock.

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.