Adage Capital Partners GP L.L.C. Has $113.75 Million Stake in Insmed Incorporated (NASDAQ:INSM)

Adage Capital Partners GP L.L.C. lifted its position in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 59.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,647,562 shares of the biopharmaceutical company's stock after buying an additional 615,000 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.92% of Insmed worth $113,748,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of INSM. Steward Partners Investment Advisory LLC grew its stake in shares of Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 163 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in Insmed by 60.3% during the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 248 shares during the last quarter. Spire Wealth Management bought a new position in Insmed in the fourth quarter valued at $47,000. Smartleaf Asset Management LLC increased its stake in Insmed by 98.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company's stock valued at $57,000 after buying an additional 411 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in Insmed during the 4th quarter worth about $86,000.

Analyst Ratings Changes

A number of analysts recently issued reports on INSM shares. Morgan Stanley lifted their target price on Insmed from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Stifel Nicolaus lowered their price target on Insmed from $97.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Cantor Fitzgerald reiterated an "overweight" rating on shares of Insmed in a research note on Wednesday, February 19th. Bank of America raised their target price on shares of Insmed from $92.00 to $96.00 and gave the company a "buy" rating in a research note on Thursday, March 20th. Finally, Truist Financial upped their price target on shares of Insmed from $105.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $94.00.

Insider Buying and Selling

In related news, insider Martina M.D. Flammer sold 33,055 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total transaction of $2,674,149.50. Following the sale, the insider now owns 138,053 shares of the company's stock, valued at $11,168,487.70. This represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William Lewis sold 6,830 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $70.16, for a total value of $479,192.80. Following the transaction, the chief executive officer now owns 233,924 shares in the company, valued at approximately $16,412,107.84. This trade represents a 2.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 471,797 shares of company stock valued at $37,621,239. 3.00% of the stock is owned by company insiders.

Insmed Trading Up 2.5 %

Shares of NASDAQ:INSM opened at $71.24 on Wednesday. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $84.91. The business has a 50 day moving average of $74.99 and a 200-day moving average of $73.58. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The stock has a market cap of $12.95 billion, a PE ratio of -12.74 and a beta of 1.07.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.15). The firm had revenue of $104.44 million during the quarter, compared to the consensus estimate of $102.31 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. As a group, equities research analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current year.

Insmed Company Profile

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.

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