First Light Asset Management LLC Buys 268,537 Shares of Insmed Incorporated (NASDAQ:INSM)

First Light Asset Management LLC grew its stake in Insmed Incorporated (NASDAQ:INSM) by 95.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 551,303 shares of the biopharmaceutical company’s stock after purchasing an additional 268,537 shares during the period. Insmed makes up about 3.2% of First Light Asset Management LLC’s portfolio, making the stock its 13th biggest position. First Light Asset Management LLC owned about 0.37% of Insmed worth $36,937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. First Horizon Advisors Inc. grew its holdings in Insmed by 83.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 287 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Insmed in the first quarter worth approximately $33,000. Fidelis Capital Partners LLC bought a new stake in shares of Insmed during the 1st quarter worth approximately $34,000. CWM LLC boosted its holdings in Insmed by 11.0% during the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 155 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in Insmed by 8.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock valued at $119,000 after acquiring an additional 135 shares during the last quarter.

Insmed Stock Down 3.2 %

NASDAQ:INSM opened at $71.82 on Tuesday. The company has a current ratio of 2.71, a quick ratio of 2.53 and a debt-to-equity ratio of 25.05. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $80.53. The company has a market cap of $10.67 billion, a PE ratio of -13.73 and a beta of 1.11. The company’s 50 day moving average is $74.57 and its two-hundred day moving average is $52.52.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The company had revenue of $90.34 million during the quarter, compared to analysts’ expectations of $87.95 million. Insmed’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.78) earnings per share. Analysts anticipate that Insmed Incorporated will post -5.42 EPS for the current year.

Insider Buying and Selling

In related news, insider Martina M.D. Flammer sold 13,436 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the transaction, the insider now owns 106,134 shares in the company, valued at approximately $7,951,559.28. The sale was disclosed in a filing with the SEC, which is available through this link. In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the sale, the insider now directly owns 106,134 shares of the company’s stock, valued at $7,951,559.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Alexander Smith sold 27,871 shares of Insmed stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the transaction, the insider now owns 67,856 shares of the company’s stock, valued at approximately $5,045,093.60. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock valued at $5,765,446 over the last quarter. 4.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on INSM. JPMorgan Chase & Co. boosted their target price on shares of Insmed from $55.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. StockNews.com lowered Insmed from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Mizuho lifted their target price on Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, June 7th. UBS Group raised their price target on Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Truist Financial lowered their price objective on shares of Insmed from $88.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $81.40.

Insmed 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.