Cormorant Asset Management LP Has $47.86 Million Stock Holdings in Insmed, Inc. $INSM

Cormorant Asset Management LP decreased its holdings in shares of Insmed, Inc. (NASDAQ:INSM) by 36.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,000 shares of the biopharmaceutical company’s stock after selling 155,000 shares during the quarter. Insmed accounts for approximately 2.2% of Cormorant Asset Management LP’s holdings, making the stock its 11th biggest position. Cormorant Asset Management LP’s holdings in Insmed were worth $47,861,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of INSM. CIBC Private Wealth Group LLC lifted its stake in Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 53 shares in the last quarter. CoreCap Advisors LLC purchased a new position in Insmed during the 4th quarter valued at about $27,000. GraniteShares Advisors LLC acquired a new position in shares of Insmed in the 4th quarter valued at about $30,000. Raiffeisen Bank International AG acquired a new position in shares of Insmed in the 4th quarter valued at about $32,000. Finally, RiverPark Advisors LLC purchased a new stake in shares of Insmed in the third quarter worth approximately $38,000.

Insmed Price Performance

Shares of INSM opened at $98.45 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. The firm has a market cap of $21.34 billion, a PE ratio of -17.12 and a beta of 0.79. The firm’s 50 day moving average price is $120.61 and its 200 day moving average price is $148.61. Insmed, Inc. has a twelve month low of $90.39 and a twelve month high of $212.75.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The company had revenue of $305.96 million during the quarter, compared to the consensus estimate of $300.81 million. During the same period in the previous year, the firm posted ($1.42) earnings per share. The company’s revenue for the quarter was up 229.7% compared to the same quarter last year. As a group, research analysts expect that Insmed, Inc. will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling at Insmed

In other Insmed news, CEO William Lewis sold 7,605 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 $777,763.35. Following the transaction, the chief executive officer directly owned 265,432 shares in the company, valued at $27,145,730.64. This trade represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Alexander Smith sold 2,159 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $220,800.93. Following the completion of the sale, the insider directly owned 39,454 shares of the company’s stock, valued at $4,034,960.58. This represents a 5.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 149,783 shares of company stock worth $22,902,672 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on INSM. Morgan Stanley upgraded shares of Insmed from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $166.00 to $212.00 in a report on Monday, March 30th. Roth Mkm reiterated a “buy” rating on shares of Insmed in a research report on Monday, June 8th. Guggenheim decreased their target price on shares of Insmed from $230.00 to $226.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Truist Financial dropped their price target on shares of Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Finally, Leerink Partners increased their price objective on Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $211.86.

Insmed 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.