Aureus Asset Management LLC Purchases New Position in Insmed, Inc. $INSM

Aureus Asset Management LLC purchased a new stake in shares of Insmed, Inc. (NASDAQ:INSM) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 6,000 shares of the biopharmaceutical company’s stock, valued at approximately $981,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Insmed in the 4th quarter worth $506,625,000. RTW Investments LP increased its stake in Insmed by 57.0% in the 4th quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company’s stock valued at $842,855,000 after buying an additional 1,758,321 shares during the last quarter. Orbis Allan Gray Ltd purchased a new stake in Insmed in the 2nd quarter valued at about $153,389,000. State Street Corp lifted its position in shares of Insmed by 30.6% during the 4th quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock worth $905,312,000 after buying an additional 1,217,390 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Insmed by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company’s stock worth $3,668,127,000 after buying an additional 1,140,524 shares in the last quarter.

Insider Buying and Selling at Insmed

In other Insmed news, COO Roger Adsett sold 2,370 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 $242,379.90. Following the sale, the chief operating officer owned 98,603 shares in the company, valued at $10,084,128.81. This represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Alexander Smith sold 1,806 shares of Insmed stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $95.82, for a total value of $173,050.92. Following the completion of the transaction, the insider owned 37,648 shares of the company’s stock, valued at approximately $3,607,431.36. This trade represents a 4.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 54,590 shares of company stock valued at $5,793,738. 2.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

INSM has been the subject of a number of research analyst reports. Guggenheim reaffirmed a “buy” rating and set a $207.00 price target on shares of Insmed in a research report on Friday, July 10th. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research report on Wednesday, June 10th. Barclays boosted their price objective on Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Insmed in a research report on Friday, July 17th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $220.00 target price on shares of Insmed in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $209.13.

Insmed Price Performance

Shares of NASDAQ INSM opened at $106.64 on Thursday. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The stock has a fifty day simple moving average of $105.41 and a two-hundred day simple moving average of $134.22. Insmed, Inc. has a 1-year low of $90.39 and a 1-year high of $212.75. The firm has a market cap of $23.11 billion, a price-to-earnings ratio of -18.55 and a beta of 0.78.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The firm had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same period in the previous year, the company posted ($1.42) earnings per share. The business’s revenue was up 229.7% on a year-over-year basis. Analysts anticipate that Insmed, Inc. will post -2.43 earnings per share 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.