First Turn Management LLC Lowers Position in Insmed, Inc. $INSM

First Turn Management LLC decreased its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 17.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 264,293 shares of the biopharmaceutical company’s stock after selling 55,480 shares during the period. Insmed comprises 5.3% of First Turn Management LLC’s portfolio, making the stock its 3rd largest holding. First Turn Management LLC owned about 0.12% of Insmed worth $45,998,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INSM. EverSource Wealth Advisors LLC lifted its position in Insmed by 65.6% during the second quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 263 shares during the period. First Trust Advisors LP lifted its position in Insmed by 80.8% during the second quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock valued at $4,770,000 after purchasing an additional 21,176 shares during the period. Baird Financial Group Inc. bought a new position in Insmed during the second quarter valued at approximately $2,589,000. Amundi lifted its position in Insmed by 21,194.4% during the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock valued at $1,130,000 after purchasing an additional 11,445 shares during the period. Finally, Natixis bought a new position in Insmed during the second quarter valued at approximately $1,072,000.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INSM. HC Wainwright restated a “buy” rating on shares of Insmed in a research report on Friday, May 8th. Raymond James Financial initiated coverage on shares of Insmed in a research report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Insmed in a research report on Tuesday, April 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research report on Wednesday. Finally, Barclays increased their price target on shares of Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $212.50.

Insider Activity

In other news, COO Roger Adsett sold 2,370 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $242,379.90. Following the completion of the sale, the chief operating officer directly owned 98,603 shares of the company’s stock, valued at $10,084,128.81. This represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sara Bonstein sold 2,404 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $7,065,016.14. This trade represents a 3.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 160,482 shares of company stock valued at $24,438,193. 2.10% of the stock is currently owned by company insiders.

Insmed Stock Up 1.2%

INSM opened at $97.85 on Friday. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. Insmed, Inc. has a 1-year low of $90.39 and a 1-year high of $212.75. The company has a market capitalization of $21.21 billion, a PE ratio of -17.02 and a beta of 0.79. The firm’s 50 day simple moving average is $124.55 and its two-hundred day simple moving average is $151.31.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.14. The business had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The company’s quarterly revenue was up 229.7% on a year-over-year basis. During the same period last year, the firm earned ($1.42) earnings per share. As a group, equities analysts forecast that Insmed, Inc. will post -2.54 EPS for the current year.

About Insmed

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.