Sterling Capital Management LLC Buys 10,811 Shares of Insmed, Inc. $INSM

Sterling Capital Management LLC boosted its stake in Insmed, Inc. (NASDAQ:INSM) by 495.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,993 shares of the biopharmaceutical company’s stock after acquiring an additional 10,811 shares during the quarter. Sterling Capital Management LLC’s holdings in Insmed were worth $2,125,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INSM. CIBC Private Wealth Group LLC grew its position in Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 53 shares in the last quarter. CoreCap Advisors LLC bought a new stake in shares of Insmed in the 4th quarter valued at about $27,000. GraniteShares Advisors LLC acquired a new stake in Insmed in the 4th quarter valued at about $30,000. Reflection Asset Management acquired a new stake in Insmed in the 4th quarter valued at about $30,000. Finally, Raiffeisen Bank International AG bought a new position in Insmed during the fourth quarter worth about $32,000.

Insiders Place Their Bets

In other news, COO Roger Adsett sold 88,060 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total value of $14,497,317.80. Following the sale, the chief operating officer directly owned 106,810 shares in the company, valued at approximately $17,584,130.30. This trade represents a 45.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William Lewis sold 21,398 shares of Insmed stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $103.32, for a total transaction of $2,210,841.36. Following the sale, the chief executive officer directly owned 258,917 shares in the company, valued at $26,751,304.44. This trade represents a 7.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 153,349 shares of company stock worth $22,321,619 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Insmed Stock Performance

Shares of NASDAQ:INSM opened at $103.38 on Monday. Insmed, Inc. has a 1 year low of $90.39 and a 1 year high of $212.75. The stock has a market capitalization of $22.41 billion, a price-to-earnings ratio of -17.98 and a beta of 0.79. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The company’s 50 day simple moving average is $112.90 and its 200 day simple moving average is $143.45.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.14. The firm had revenue of $305.96 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 229.7% on a year-over-year basis. During the same period in the prior year, the company earned ($1.42) earnings per share. As a group, research analysts predict that Insmed, Inc. will post -2.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Jefferies Financial Group initiated coverage on Insmed in a research note on Monday, March 16th. They issued a “buy” rating and a $228.00 price objective on the stock. Wells Fargo & Company decreased their target price on Insmed from $177.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Insmed in a research note on Tuesday, April 21st. Stifel Nicolaus raised their price target on Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Finally, Mizuho set a $192.00 price objective on shares of Insmed in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.86.

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.