Evergreen Quality Fund GP Ltd. bought a new position in Insmed, Inc. (NASDAQ:INSM – Free Report) during the fourth quarter, Holdings Channel reports. The firm bought 120,500 shares of the biopharmaceutical company’s stock, valued at approximately $20,972,000. Insmed makes up approximately 0.4% of Evergreen Quality Fund GP Ltd.’s investment portfolio, making the stock its 25th largest position.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Castle Hook Partners LP increased its stake in Insmed by 14.9% in the 4th quarter. Castle Hook Partners LP now owns 1,253,568 shares of the biopharmaceutical company’s stock worth $218,171,000 after acquiring an additional 162,163 shares during the last quarter. ClearAlpha Technologies LP purchased a new stake in shares of Insmed during the 4th quarter worth approximately $201,000. Freestone Grove Partners LP bought a new position in shares of Insmed during the 4th quarter valued at approximately $6,300,000. Guggenheim Capital LLC boosted its position in shares of Insmed by 123.3% during the 4th quarter. Guggenheim Capital LLC now owns 82,291 shares of the biopharmaceutical company’s stock valued at $14,322,000 after acquiring an additional 45,431 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Insmed by 63.0% in the fourth quarter. AQR Capital Management LLC now owns 468,260 shares of the biopharmaceutical company’s stock valued at $81,496,000 after purchasing an additional 180,974 shares in the last quarter.
Insider Activity
In related news, COO Roger Adsett sold 88,060 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total transaction of $14,497,317.80. Following the transaction, the chief operating officer directly owned 106,810 shares in the company, valued at approximately $17,584,130.30. This represents a 45.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sara Bonstein sold 2,404 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $245,857.08. Following the completion of the sale, the chief financial officer directly owned 69,082 shares in the company, valued at $7,065,016.14. This trade represents a 3.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 149,783 shares of company stock valued at $22,902,672 in the last quarter. 2.10% of the stock is currently owned by company insiders.
Insmed Stock Up 3.1%
Insmed (NASDAQ:INSM – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business had revenue of $305.96 million for the quarter, compared to analysts’ expectations of $300.81 million. During the same quarter in the previous year, the business posted ($1.42) earnings per share. The business’s revenue was up 229.7% compared to the same quarter last year. On average, sell-side analysts expect that Insmed, Inc. will post -2.54 EPS for the current year.
Analyst Ratings Changes
A number of research firms recently issued reports on INSM. JPMorgan Chase & Co. decreased their price target on shares of Insmed from $180.00 to $179.00 and set an “overweight” rating on the stock in a research note on Monday, June 8th. Truist Financial dropped their price objective on shares of Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Raymond James Financial initiated coverage on shares of Insmed in a report on Friday, April 10th. They issued an “outperform” rating and a $200.00 target price on the stock. Morgan Stanley upgraded shares of Insmed from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $166.00 to $212.00 in a research report on Monday, March 30th. Finally, Roth Mkm reaffirmed a “buy” rating on shares of Insmed in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.86.
Read Our Latest Stock Report on Insmed
Insmed Company Profile
Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.
The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.
Read More
- Five stocks we like better than Insmed
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
Want to see what other hedge funds are holding INSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Insmed, Inc. (NASDAQ:INSM – Free Report).
Receive News & Ratings for Insmed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insmed and related companies with MarketBeat.com's FREE daily email newsletter.
