First Turn Management LLC Has $26.02 Million Stake in Insmed Incorporated (NASDAQ:INSM)

First Turn Management LLC increased its holdings in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 10.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 356,451 shares of the biopharmaceutical company's stock after purchasing an additional 33,091 shares during the quarter. Insmed accounts for 4.1% of First Turn Management LLC's portfolio, making the stock its 3rd biggest holding. First Turn Management LLC owned about 0.20% of Insmed worth $26,021,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of INSM. Darwin Global Management Ltd. purchased a new stake in Insmed during the second quarter valued at $237,076,000. Capital International Investors purchased a new stake in shares of Insmed during the 1st quarter valued at about $43,973,000. Clearbridge Investments LLC bought a new position in shares of Insmed in the 1st quarter worth approximately $25,242,000. Fiera Capital Corp purchased a new position in shares of Insmed in the second quarter worth approximately $40,570,000. Finally, Farallon Capital Management LLC bought a new stake in Insmed during the second quarter valued at approximately $38,056,000.

Insmed Price Performance

INSM stock traded up $7.11 during mid-day trading on Tuesday, hitting $73.72. The company had a trading volume of 2,902,748 shares, compared to its average volume of 2,251,792. The company has a 50-day moving average price of $72.03 and a 200 day moving average price of $65.26. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $80.53. The company has a market capitalization of $13.19 billion, a price-to-earnings ratio of -13.28 and a beta of 1.12. 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 (NASDAQ:INSM - Get Free Report) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing analysts' consensus estimates of ($1.19) by ($0.08). The company had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. During the same quarter in the prior year, the company earned ($1.10) EPS. The company's quarterly revenue was up 18.1% compared to the same quarter last year. On average, research analysts anticipate that Insmed Incorporated will post -5.42 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on INSM. StockNews.com cut shares of Insmed from a "hold" rating to a "sell" rating in a research note on Friday, August 9th. JPMorgan Chase & Co. lifted their target price on Insmed from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Thursday, October 3rd. Bank of America upped their price target on Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Insmed in a research note on Monday, September 9th. Finally, Truist Financial reiterated a "buy" rating and set a $105.00 price objective (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.07.

Insider Activity at Insmed

In other news, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of the transaction, the insider now owns 106,134 shares in the company, valued at approximately $7,951,559.28. The trade was a 11.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the business's stock in a transaction 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 transaction, the insider now owns 100,100 shares in the company, valued at $7,157,150. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,882 shares of company stock valued at $5,765,446. 4.60% of the stock is owned by corporate insiders.

Insmed 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.