Granahan Investment Management LLC Reduces Holdings in Insmed, Inc. $INSM

Granahan Investment Management LLC lowered its position in Insmed, Inc. (NASDAQ:INSM) by 88.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,402 shares of the biopharmaceutical company’s stock after selling 102,515 shares during the quarter. Granahan Investment Management LLC’s holdings in Insmed were worth $1,930,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Savant Capital LLC bought a new position in Insmed during the 2nd quarter valued at about $205,000. PNC Financial Services Group Inc. lifted its stake in Insmed by 8.8% in the second quarter. PNC Financial Services Group Inc. now owns 11,576 shares of the biopharmaceutical company’s stock worth $1,165,000 after purchasing an additional 933 shares during the last quarter. Creative Planning lifted its stake in Insmed by 0.6% in the second quarter. Creative Planning now owns 72,176 shares of the biopharmaceutical company’s stock worth $7,264,000 after purchasing an additional 432 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Insmed by 52.1% during the second quarter. Cetera Investment Advisers now owns 31,462 shares of the biopharmaceutical company’s stock valued at $3,166,000 after buying an additional 10,783 shares during the period. Finally, Kingsview Wealth Management LLC bought a new position in shares of Insmed during the second quarter valued at approximately $228,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Insmed in a report on Monday. They issued a “buy” rating and a $228.00 price target on the stock. Rothschild & Co Redburn set a $263.00 price objective on Insmed in a research report on Thursday, December 4th. HC Wainwright reiterated a “buy” rating and issued a $230.00 target price on shares of Insmed in a research note on Monday, February 23rd. Morgan Stanley set a $166.00 target price on Insmed in a research report on Friday, February 20th. Finally, Barclays started coverage on shares of Insmed in a report on Tuesday, January 27th. They issued an “overweight” rating and a $231.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $205.57.

Insmed Stock Up 3.7%

Shares of NASDAQ:INSM opened at $144.60 on Tuesday. Insmed, Inc. has a 52-week low of $60.40 and a 52-week high of $212.75. The stock has a market cap of $31.17 billion, a P/E 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 quick ratio of 3.54, a current ratio of 3.83 and a debt-to-equity ratio of 0.76.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.47). Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The firm had revenue of $263.84 million for the quarter, compared to the consensus estimate of $263.97 million. During the same period last year, the firm earned ($1.32) earnings per share. The company’s revenue for the quarter was up 152.6% on a year-over-year basis. Sell-side analysts predict that Insmed, Inc. will post -4.56 EPS for the current year.

Insider Buying and Selling at Insmed

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 87,290 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $175.20, for a total transaction of $15,293,208.00. Following the transaction, the insider directly owned 41,754 shares in the company, valued at $7,315,300.80. This represents a 67.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Lewis sold 19,215 shares of the firm’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $169.00, for a total transaction of $3,247,335.00. Following the transaction, the chief executive officer directly owned 306,891 shares in the company, valued at $51,864,579. This trade represents a 5.89% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 189,651 shares of company stock worth $31,784,545. Insiders own 3.00% of the company’s stock.

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.