Millennium Management LLC Has $336.42 Million Stake in Insmed, Inc. $INSM

Millennium Management LLC raised its position in shares of Insmed, Inc. (NASDAQ:INSM) by 9.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,336,112 shares of the biopharmaceutical company’s stock after acquiring an additional 206,395 shares during the period. Millennium Management LLC owned approximately 1.10% of Insmed worth $336,423,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Kingsview Wealth Management LLC lifted its position in shares of Insmed by 2.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 2,321 shares of the biopharmaceutical company’s stock worth $334,000 after purchasing an additional 60 shares during the last quarter. Choreo LLC boosted its stake in Insmed by 2.9% during the 3rd quarter. Choreo LLC now owns 2,319 shares of the biopharmaceutical company’s stock valued at $334,000 after purchasing an additional 65 shares during the period. Spire Wealth Management grew its holdings in Insmed by 11.5% in the 3rd quarter. Spire Wealth Management now owns 777 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 80 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Insmed by 59.6% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 217 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 81 shares during the last quarter. Finally, Moody Aldrich Partners LLC increased its position in Insmed by 2.4% in the 3rd quarter. Moody Aldrich Partners LLC now owns 5,551 shares of the biopharmaceutical company’s stock worth $799,000 after buying an additional 132 shares during the period.

Analyst Ratings Changes

A number of brokerages have recently commented on INSM. Guggenheim cut their price target on Insmed from $230.00 to $221.00 and set a “buy” rating for the company in a report on Thursday, December 18th. Mizuho dropped their target price on shares of Insmed from $211.00 to $204.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Cantor Fitzgerald upped their target price on shares of Insmed from $216.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Bank of America set a $203.00 price target on shares of Insmed in a report on Thursday, December 18th. Finally, Wells Fargo & Company decreased their price target on shares of Insmed from $234.00 to $208.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $205.57.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $144.60 on Tuesday. Insmed, Inc. has a 1-year low of $60.40 and a 1-year high of $212.75. The firm has a market capitalization of $31.17 billion, a PE ratio of -22.56 and a beta of 1.13. The business’s 50 day moving average is $154.57 and its 200-day moving average is $166.22. The company has a current ratio of 3.83, a quick ratio of 3.54 and a debt-to-equity ratio of 0.76.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.47). The firm had revenue of $263.84 million for the quarter, compared to the consensus estimate of $263.97 million. Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The business’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 posted ($1.32) earnings per share. Sell-side analysts predict that Insmed, Inc. will post -4.56 earnings per share for the current year.

Insider Buying and Selling at Insmed

In other news, COO Roger Adsett sold 791 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $156.17, for a total value of $123,530.47. Following the completion of the transaction, the chief operating officer owned 106,810 shares in the company, valued at approximately $16,680,517.70. This represents a 0.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Alexander Smith sold 640 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $156.27, for a total transaction of $100,012.80. Following the transaction, the insider directly owned 56,397 shares of the company’s stock, valued at $8,813,159.19. The trade was a 1.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 189,651 shares of company stock worth $31,784,545. Corporate insiders own 3.00% of the company’s stock.

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.