Insmed Incorporated (NASDAQ:INSM) Shares Bought by First Turn Management LLC

First Turn Management LLC raised its position in Insmed Incorporated (NASDAQ:INSM) by 10.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 356,451 shares of the biopharmaceutical company’s stock after acquiring an additional 33,091 shares during the period. Insmed makes up approximately 4.1% of First Turn Management LLC’s holdings, making the stock its 3rd biggest holding. First Turn Management LLC’s holdings in Insmed were worth $26,021,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Insmed by 2.7% in the first quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock valued at $393,636,000 after purchasing an additional 383,714 shares during the last quarter. Darwin Global Management Ltd. purchased a new stake in Insmed in the second quarter valued at $237,076,000. Principal Financial Group Inc. boosted its holdings in Insmed by 12.9% in the third quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock valued at $136,648,000 after purchasing an additional 214,130 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Insmed by 76.8% in the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after purchasing an additional 714,539 shares during the last quarter. Finally, Capital International Investors purchased a new stake in Insmed in the first quarter valued at $43,973,000.

Insmed Stock Performance

Insmed stock opened at $66.61 on Tuesday. The firm has a 50 day simple moving average of $72.13 and a 200-day simple moving average of $64.97. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $80.53. 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 (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The company had revenue of $93.40 million for the quarter, compared to analysts’ expectations of $93.36 million. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.10) earnings per share. Sell-side analysts anticipate that Insmed Incorporated will post -5.42 earnings per share for the current year.

Insider Activity

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of Insmed stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total value of $2,686,612.50. Following the sale, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. The trade was a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the sale, the insider now owns 106,134 shares of the company’s stock, valued at $7,951,559.28. This trade represents a 11.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. StockNews.com downgraded shares of Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. TD Cowen upped their price objective on shares of Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Insmed from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.07.

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.