Monashee Investment Management LLC Acquires New Position in Insmed, Inc. $INSM

Monashee Investment Management LLC acquired a new stake in shares of Insmed, Inc. (NASDAQ:INSM) during the 4th quarter, Holdings Channel reports. The fund acquired 50,000 shares of the biopharmaceutical company’s stock, valued at approximately $8,702,000. Insmed makes up 4.9% of Monashee Investment Management LLC’s holdings, making the stock its 5th biggest holding.

Several other institutional investors and hedge funds have also modified their holdings of INSM. EverSource Wealth Advisors LLC lifted its stake in shares of Insmed by 65.6% during the second quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 263 shares during the period. First Trust Advisors LP lifted its stake in shares of Insmed by 80.8% during the second quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock valued at $4,770,000 after buying an additional 21,176 shares during the period. Baird Financial Group Inc. purchased a new position in shares of Insmed during the second quarter valued at approximately $2,589,000. Amundi lifted its stake in shares of Insmed by 21,194.4% during the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock valued at $1,130,000 after buying an additional 11,445 shares during the period. Finally, Natixis purchased a new position in shares of Insmed during the second quarter valued at approximately $1,072,000.

Insider Activity at Insmed

In other news, CFO Sara Bonstein sold 2,404 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $245,857.08. Following the completion of the sale, the chief financial officer owned 69,082 shares of the company’s stock, valued at $7,065,016.14. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Alexander Smith sold 19,638 shares of the stock in a transaction on Monday, March 30th. The stock was sold at an average price of $150.98, for a total transaction of $2,964,945.24. Following the completion of the sale, the insider directly owned 51,871 shares of the company’s stock, valued at $7,831,483.58. The trade was a 27.46% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 160,482 shares of company stock worth $24,438,193. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Leerink Partners upped their price objective on shares of Insmed from $210.00 to $215.00 and gave the company an “outperform” rating in a research note on Tuesday, March 24th. Mizuho upped their price objective on shares of Insmed from $204.00 to $206.00 and gave the company an “outperform” rating in a research note on Wednesday, March 25th. Bank of America upped their price objective on shares of Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research note on Tuesday, April 21st. Finally, Barclays increased their price target on shares of Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $212.50.

Insmed Stock Performance

NASDAQ:INSM opened at $96.72 on Friday. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The company has a market cap of $20.96 billion, a P/E ratio of -16.82 and a beta of 0.79. Insmed, Inc. has a fifty-two week low of $90.39 and a fifty-two week high of $212.75. The firm’s 50 day moving average is $125.89 and its two-hundred day moving average is $151.68.

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

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.