Soros Fund Management LLC Buys 7,901 Shares of Insmed Incorporated (NASDAQ:INSM)

Soros Fund Management LLC grew its position in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 478,601 shares of the biopharmaceutical company's stock after buying an additional 7,901 shares during the period. Soros Fund Management LLC owned about 0.27% of Insmed worth $34,938,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of INSM. Darwin Global Management Ltd. purchased a new stake in Insmed in the 2nd quarter worth approximately $237,076,000. Vestal Point Capital LP lifted its position in Insmed by 113.3% during the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company's stock worth $116,800,000 after acquiring an additional 850,000 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Insmed by 76.8% in the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company's stock valued at $110,212,000 after purchasing an additional 714,539 shares during the last quarter. Fiera Capital Corp bought a new position in shares of Insmed during the 2nd quarter worth approximately $40,570,000. Finally, Farallon Capital Management LLC acquired a new position in Insmed during the second quarter worth $38,056,000.

Insmed Price Performance

INSM stock traded up $1.42 during trading on Friday, reaching $76.75. 534,269 shares of the company were exchanged, compared to its average volume of 2,207,502. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $80.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The company has a market capitalization of $13.73 billion, a price-to-earnings ratio of -13.59 and a beta of 1.10. The company has a 50-day moving average of $72.31 and a two-hundred day moving average of $69.10.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $93.40 million for the quarter, compared to analysts' expectations of $93.36 million. During the same period in the prior year, the business posted ($1.10) EPS. The business's revenue for the quarter was up 18.1% on a year-over-year basis. As a group, equities analysts predict that Insmed Incorporated will post -5.44 earnings per share for the current fiscal year.

Insider Activity at Insmed

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was 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 in the company, valued at $7,157,150. The trade was a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Alexander Smith sold 27,871 shares of the business's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the sale, the insider now owns 67,856 shares of the company's stock, valued at $5,045,093.60. This trade represents a 29.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,882 shares of company stock worth $5,765,446 over the last ninety days. Insiders own 4.60% of the company's stock.

Wall Street Analysts Forecast Growth

INSM has been the subject of several research analyst reports. HC Wainwright reiterated a "buy" rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st. 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 report on Friday, August 9th. Truist Financial reiterated a "buy" rating and set a $105.00 target price (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. StockNews.com lowered shares of Insmed from a "hold" rating to a "sell" rating in a report on Friday, August 9th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Insmed in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.67.

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.