Granahan Investment Management LLC Sells 102,515 Shares of Insmed, Inc. $INSM

Granahan Investment Management LLC lowered its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 88.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,402 shares of the biopharmaceutical company’s stock after selling 102,515 shares during the period. Granahan Investment Management LLC’s holdings in Insmed were worth $1,930,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stone House Investment Management LLC purchased a new position in shares of Insmed in the 3rd quarter valued at $29,000. SBI Securities Co. Ltd. lifted its stake in shares of Insmed by 404.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 166 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Insmed by 59.6% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 217 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 81 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Insmed by 169.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 151 shares in the last quarter. Finally, RiverPark Advisors LLC purchased a new position in Insmed in the third quarter valued at about $38,000.

Insmed Price Performance

Shares of INSM stock opened at $144.60 on Tuesday. Insmed, Inc. has a fifty-two week low of $60.40 and a fifty-two week high of $212.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.54 and a current ratio of 3.83. The firm has a market capitalization of $31.17 billion, a price-to-earnings ratio of -22.56 and a beta of 1.13. The stock’s 50-day simple moving average is $154.57 and its 200-day simple moving average is $166.22.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.54) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.47). The company had revenue of $263.84 million during the quarter, compared to analysts’ expectations of $263.97 million. Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The business’s revenue for the quarter was up 152.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.32) earnings per share. As a group, equities analysts forecast that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INSM has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research report on Thursday, January 22nd. Wolfe Research set a $167.00 price objective on shares of Insmed and gave the stock an “outperform” rating in a research note on Thursday, December 18th. UBS Group decreased their target price on shares of Insmed from $223.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. Leerink Partners restated an “outperform” rating on shares of Insmed in a research note on Thursday, December 18th. Finally, Morgan Stanley set a $166.00 price target on shares of Insmed in a report on Friday, February 20th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $205.57.

Insiders Place Their Bets

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 87,290 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $175.20, for a total value of $15,293,208.00. Following the completion of the transaction, the insider owned 41,754 shares of the company’s stock, valued at approximately $7,315,300.80. This trade represents a 67.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William Lewis sold 19,215 shares of Insmed stock in a transaction on Monday, January 12th. The stock was sold at an average price of $169.00, for a total transaction of $3,247,335.00. Following the sale, the chief executive officer owned 306,891 shares of the company’s stock, valued at $51,864,579. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 189,651 shares of company stock valued at $31,784,545. Corporate insiders own 3.00% of the company’s stock.

About Insmed

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.