GraniteShares Advisors LLC Invests $680,000 in Insmed, Inc. $INSM

GraniteShares Advisors LLC purchased a new position in shares of Insmed, Inc. (NASDAQ:INSM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,905 shares of the biopharmaceutical company’s stock, valued at approximately $680,000.

A number of other large investors also recently modified their holdings of the business. EULAV Asset Management bought a new stake in shares of Insmed in the 3rd quarter worth approximately $12,961,000. Artisan Partners Limited Partnership lifted its position in shares of Insmed by 49.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after acquiring an additional 1,623,342 shares during the period. Atika Capital Management LLC bought a new stake in shares of Insmed in the 3rd quarter worth approximately $13,681,000. Nisa Investment Advisors LLC lifted its position in shares of Insmed by 374.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 10,466 shares of the biopharmaceutical company’s stock worth $1,507,000 after acquiring an additional 8,261 shares during the period. Finally, Nordea Investment Management AB bought a new stake in shares of Insmed in the 4th quarter worth approximately $3,492,000.

Insmed Trading Down 1.1%

INSM opened at $142.82 on Tuesday. The company has a current ratio of 3.83, a quick ratio of 3.54 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $30.83 billion, a PE ratio of -22.28 and a beta of 1.10. Insmed, Inc. has a 1-year low of $63.81 and a 1-year high of $212.75. The firm has a 50-day moving average price of $149.82 and a two-hundred day moving average price of $167.54.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.47). The company had revenue of $263.84 million during the quarter, compared to analyst estimates of $263.97 million. Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The company’s revenue was up 152.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.32) EPS. As a group, equities analysts anticipate that Insmed, Inc. will post -2.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on INSM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Insmed in a research report on Thursday, January 22nd. Raymond James Financial began coverage on Insmed in a research report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price objective for the company. Roth Mkm reiterated a “buy” rating and issued a $212.00 price objective on shares of Insmed in a research report on Friday. Jefferies Financial Group initiated coverage on Insmed in a research report on Monday, March 16th. They issued a “buy” rating and a $228.00 price objective for the company. Finally, Stifel Nicolaus lifted their price objective on Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $213.23.

Insiders Place Their Bets

In other Insmed news, CEO William Lewis sold 10,699 shares of the business’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $143.97, for a total transaction of $1,540,335.03. Following the completion of the sale, the chief executive officer directly owned 301,185 shares of the company’s stock, valued at approximately $43,361,604.45. The trade was a 3.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 88,060 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $164.63, for a total value of $14,497,317.80. Following the sale, the chief operating officer directly owned 106,810 shares of the company’s stock, valued at $17,584,130.30. This represents a 45.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 179,777 shares of company stock valued at $28,252,720. 2.10% of the stock is currently owned by insiders.

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.