Granahan Investment Management LLC Reduces Stock Position in Insmed Incorporated (NASDAQ:INSM)

Granahan Investment Management LLC decreased its position in shares of Insmed Incorporated (NASDAQ:INSM) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,354 shares of the biopharmaceutical company’s stock after selling 7,991 shares during the quarter. Granahan Investment Management LLC owned 0.12% of Insmed worth $14,454,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. National Bank of Canada FI boosted its position in Insmed by 9.7% during the fourth quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company’s stock worth $115,000 after purchasing an additional 147 shares in the last quarter. Abel Hall LLC boosted its position in shares of Insmed by 4.7% in the 4th quarter. Abel Hall LLC now owns 3,333 shares of the biopharmaceutical company’s stock worth $230,000 after buying an additional 151 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Insmed by 65.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 163 shares during the last quarter. M&T Bank Corp grew its stake in Insmed by 5.6% in the 4th quarter. M&T Bank Corp now owns 3,146 shares of the biopharmaceutical company’s stock valued at $217,000 after acquiring an additional 166 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Insmed by 5.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,533 shares of the biopharmaceutical company’s stock valued at $244,000 after acquiring an additional 183 shares in the last quarter.

Insider Activity at Insmed

In other Insmed news, CEO William Lewis sold 6,830 shares of the company’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $70.16, for a total value of $479,192.80. Following the completion of the transaction, the chief executive officer now owns 233,924 shares in the company, valued at approximately $16,412,107.84. This represents a 2.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Adsett sold 42,975 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $78.61, for a total value of $3,378,264.75. Following the completion of the sale, the chief operating officer now owns 146,082 shares in the company, valued at approximately $11,483,506.02. This represents a 22.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,337 shares of company stock valued at $14,284,557 in the last quarter. Insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

INSM has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research note on Wednesday, February 19th. Stifel Nicolaus cut their price target on Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 21st. HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their price objective on Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, Guggenheim restated a “buy” rating and issued a $101.00 target price on shares of Insmed in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $93.93.

Insmed Price Performance

INSM opened at $65.08 on Friday. The firm has a market cap of $11.83 billion, a price-to-earnings ratio of -11.64 and a beta of 0.84. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $84.91. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The company has a fifty day simple moving average of $72.37 and a 200 day simple moving average of $73.26.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) EPS for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.06). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The firm had revenue of $92.82 million for the quarter, compared to the consensus estimate of $91.63 million. During the same period in the prior year, the business earned ($1.06) EPS. The company’s quarterly revenue was up 22.9% on a year-over-year basis. Equities research analysts expect that Insmed Incorporated will post -4.56 EPS for the current fiscal 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.