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

Sterling Capital Management LLC increased its position in shares of Insmed, Inc. (NASDAQ:INSM) by 495.5% during the first quarter, HoldingsChannel reports. The fund owned 12,993 shares of the biopharmaceutical company’s stock after buying an additional 10,811 shares during the quarter. Sterling Capital Management LLC’s holdings in Insmed were worth $2,125,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Insmed in the fourth quarter valued at about $506,625,000. RTW Investments LP grew its holdings in shares of Insmed by 57.0% during the fourth quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company’s stock worth $842,855,000 after purchasing an additional 1,758,321 shares during the last quarter. Orbis Allan Gray Ltd acquired a new position in shares of Insmed in the second quarter valued at approximately $153,389,000. State Street Corp increased its stake in shares of Insmed by 30.6% in the fourth quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock valued at $905,312,000 after buying an additional 1,217,390 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Insmed by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company’s stock valued at $3,668,127,000 after buying an additional 1,140,524 shares during the last quarter.

Insiders Place Their Bets

In other news, CEO William Lewis sold 21,398 shares of Insmed stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $103.32, for a total value of $2,210,841.36. Following the completion of the sale, the chief executive officer owned 258,917 shares in the company, valued at $26,751,304.44. The trade was a 7.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 88,060 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total transaction of $14,497,317.80. Following the transaction, the chief operating officer owned 106,810 shares in the company, valued at $17,584,130.30. The trade was a 45.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 153,349 shares of company stock valued at $22,321,619 in the last ninety days. 2.10% of the stock is owned by corporate insiders.

Insmed Stock Performance

INSM stock opened at $103.38 on Monday. The firm has a market cap of $22.41 billion, a PE ratio of -17.98 and a beta of 0.79. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The stock has a 50-day moving average price of $112.90 and a 200-day moving average price of $143.45. Insmed, Inc. has a 1-year low of $90.39 and a 1-year high of $212.75.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The company had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same quarter in the prior year, the company earned ($1.42) EPS. The firm’s revenue for the quarter was up 229.7% compared to the same quarter last year. As a group, equities research analysts expect that Insmed, Inc. will post -2.55 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on INSM. Guggenheim cut their target price on shares of Insmed from $230.00 to $226.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Mizuho set a $192.00 price target on shares of Insmed in a research note on Tuesday, June 16th. Stifel Nicolaus lifted their price target on shares of Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Roth Mkm reissued a “buy” rating on shares of Insmed in a research note on Monday, June 8th. Finally, Raymond James Financial started coverage on Insmed in a report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Insmed presently has a consensus 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.