Suvretta Capital Management LLC Has $31.36 Million Stock Holdings in Insmed, Inc. $INSM

Suvretta Capital Management LLC reduced its stake in Insmed, Inc. (NASDAQ:INSM) by 8.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 217,783 shares of the biopharmaceutical company’s stock after selling 21,000 shares during the period. Suvretta Capital Management LLC’s holdings in Insmed were worth $31,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of INSM. Stone House Investment Management LLC bought a new position in Insmed in the 3rd quarter valued at about $29,000. SBI Securities Co. Ltd. increased its stake in shares of Insmed by 404.9% during the third quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 166 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in Insmed by 59.6% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 217 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 81 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Insmed by 169.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 151 shares during the last quarter. Finally, RiverPark Advisors LLC bought a new stake in Insmed in the 3rd quarter valued at $38,000.

Insiders Place Their Bets

In related news, COO Roger Adsett sold 791 shares of Insmed stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $156.17, for a total transaction of $123,530.47. Following the sale, the chief operating officer directly owned 106,810 shares of the company’s stock, valued at approximately $16,680,517.70. The trade was a 0.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sara Bonstein sold 748 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $156.34, for a total transaction of $116,942.32. Following the transaction, the chief financial officer owned 79,758 shares of the company’s stock, valued at approximately $12,469,365.72. This represents a 0.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 189,651 shares of company stock valued at $31,784,545. 3.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on INSM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Insmed in a research report on Thursday, January 22nd. Barclays started coverage on shares of Insmed in a research report on Tuesday, January 27th. They set an “overweight” rating and a $231.00 target price on the stock. Roth Mkm upgraded shares of Insmed to a “strong-buy” rating in a research report on Friday, January 23rd. Wolfe Research set a $167.00 price target on Insmed and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Finally, Guggenheim lowered their price objective on Insmed from $230.00 to $221.00 and set a “buy” rating on the stock in a research note on Thursday, December 18th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $207.52.

Insmed Stock Performance

Shares of Insmed stock opened at $139.50 on Friday. 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 company has a market cap of $30.07 billion, a PE ratio of -21.76 and a beta of 1.13. The company has a 50 day moving average of $155.18 and a 200-day moving average of $165.70. Insmed, Inc. has a 1-year low of $60.40 and a 1-year high of $212.75.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.54) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.47). The firm had revenue of $263.84 million for 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 firm’s revenue for the quarter was up 152.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.32) earnings per share. As a group, equities research analysts forecast that Insmed, Inc. will post -4.56 earnings per share for the current fiscal 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.