Exome Asset Management LLC Buys New Shares in Insmed, Inc. $INSM

Exome Asset Management LLC purchased a new position in Insmed, Inc. (NASDAQ:INSM) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 26,651 shares of the biopharmaceutical company’s stock, valued at approximately $4,358,000. Insmed accounts for about 2.3% of Exome Asset Management LLC’s investment portfolio, making the stock its 9th largest position.

A number of other hedge funds have also recently modified their holdings of INSM. Quantinno Capital Management LP raised its holdings in Insmed by 81.9% in the 1st quarter. Quantinno Capital Management LP now owns 35,552 shares of the biopharmaceutical company’s stock worth $5,814,000 after purchasing an additional 16,011 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Insmed during the first quarter valued at approximately $360,000. Lombard Odier Asset Management Switzerland SA bought a new position in Insmed during the 1st quarter valued at approximately $720,000. Affinity Asset Advisors LLC raised its position in shares of Insmed by 6.7% in the 1st quarter. Affinity Asset Advisors LLC now owns 480,000 shares of the biopharmaceutical company’s stock worth $78,490,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Entropy Technologies LP purchased a new position in Insmed in the first quarter worth about $708,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $220.00 target price on shares of Insmed in a research report on Monday, July 20th. JPMorgan Chase & Co. reduced their price objective on Insmed from $180.00 to $179.00 and set an “overweight” rating for the company in a research note on Monday, June 8th. Guggenheim reaffirmed a “buy” rating and issued a $207.00 target price on shares of Insmed in a report on Friday, July 10th. Wells Fargo & Company raised their target price on shares of Insmed from $160.00 to $161.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, Roth Capital reissued a “buy” rating on shares of Insmed in a report on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $209.13.

Insider Buying and Selling

In related news, CEO William Lewis sold 10,699 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $117.40, for a total value of $1,256,062.60. Following the sale, the chief executive officer directly owned 259,058 shares of the company’s stock, valued at $30,413,409.20. This represents a 3.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sara Bonstein sold 2,404 shares of the firm’s stock in a transaction dated 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. The trade was a 3.36% decrease in their position. 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. Insiders have sold 54,590 shares of company stock valued at $5,793,738 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Insmed Trading Down 2.0%

INSM opened at $104.73 on Tuesday. The stock has a 50-day moving average of $105.15 and a 200 day moving average of $132.75. 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 12 month low of $90.39 and a 12 month high of $212.75. The firm has a market cap of $22.70 billion, a P/E ratio of -18.21 and a beta of 0.78.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data 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. The business had revenue of $305.96 million during the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The company’s revenue for the quarter was up 229.7% on a year-over-year basis. During the same period last year, the company earned ($1.42) EPS. As a group, research analysts forecast that Insmed, Inc. will post -2.43 EPS for the current year.

Insmed Company Profile

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.