Insmed Incorporated (NASDAQ:INSM) is First Turn Management LLC’s 3rd Largest Position

First Turn Management LLC raised its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 10.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 356,451 shares of the biopharmaceutical company’s stock after buying an additional 33,091 shares during the period. Insmed comprises approximately 4.1% of First Turn Management LLC’s holdings, making the stock its 3rd largest position. First Turn Management LLC owned approximately 0.20% of Insmed worth $26,021,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of INSM. SG Americas Securities LLC increased its stake in shares of Insmed by 123.1% in the 1st quarter. SG Americas Securities LLC now owns 8,508 shares of the biopharmaceutical company’s stock worth $231,000 after purchasing an additional 4,695 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Insmed by 15,915.2% in the 1st quarter. Russell Investments Group Ltd. now owns 22,101 shares of the biopharmaceutical company’s stock worth $600,000 after buying an additional 21,963 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Insmed by 1.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 38,232 shares of the biopharmaceutical company’s stock worth $1,037,000 after buying an additional 610 shares in the last quarter. Vanguard Group Inc. increased its stake in Insmed by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock worth $393,636,000 after buying an additional 383,714 shares in the last quarter. Finally, Clearbridge Investments LLC purchased a new stake in Insmed in the 1st quarter worth $25,242,000.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. StockNews.com lowered shares of Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. UBS Group increased their price objective on shares of Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Bank of America increased their price objective on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Insmed has an average rating of “Moderate Buy” and an average target price of $83.07.

Insider Activity at Insmed

In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the sale, the insider now directly owns 67,856 shares in the company, valued at $5,045,093.60. This trade represents a 29.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the sale, the insider now owns 100,100 shares of the company’s stock, valued at approximately $7,157,150. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,882 shares of company stock valued at $5,765,446 over the last ninety days. 4.60% of the stock is owned by company insiders.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $66.61 on Tuesday. The firm’s 50 day simple moving average is $72.13 and its 200-day simple moving average is $64.97. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a one year low of $21.92 and a one year high of $80.53.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The company had revenue of $93.40 million for the quarter, compared to the consensus estimate of $93.36 million. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.10) earnings per share. Analysts forecast that Insmed Incorporated will post -5.42 earnings per share for the current year.

About Insmed

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.