Suvretta Capital Management LLC Has $31.36 Million Stake in Insmed, Inc. $INSM

Suvretta Capital Management LLC reduced its holdings in Insmed, Inc. (NASDAQ:INSM) by 8.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 217,783 shares of the biopharmaceutical company’s stock after selling 21,000 shares during the quarter. Suvretta Capital Management LLC owned 0.10% of Insmed worth $31,363,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Kingsview Wealth Management LLC grew its position in shares of Insmed by 2.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 2,321 shares of the biopharmaceutical company’s stock valued at $334,000 after purchasing an additional 60 shares during the period. Choreo LLC increased its position in shares of Insmed by 2.9% during the third quarter. Choreo LLC now owns 2,319 shares of the biopharmaceutical company’s stock worth $334,000 after acquiring an additional 65 shares in the last quarter. Spire Wealth Management raised its holdings in shares of Insmed by 11.5% during the third quarter. Spire Wealth Management now owns 777 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 80 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in Insmed by 59.6% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 217 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 81 shares in the last quarter. Finally, Moody Aldrich Partners LLC lifted its position in Insmed by 2.4% in the 3rd quarter. Moody Aldrich Partners LLC now owns 5,551 shares of the biopharmaceutical company’s stock valued at $799,000 after acquiring an additional 132 shares in the last quarter.

Insmed Stock Performance

INSM opened at $139.50 on Friday. The business’s 50-day simple moving average is $155.18 and its 200 day simple moving average is $165.70. Insmed, Inc. has a 52-week low of $60.40 and a 52-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 $30.07 billion, a PE ratio of -21.76 and a beta of 1.13.

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

Insider Activity

In other Insmed news, insider Michael Alexander Smith sold 640 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $156.27, for a total value of $100,012.80. Following the completion of the sale, the insider owned 56,397 shares in the company, valued at $8,813,159.19. This trade represents a 1.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Roger Adsett sold 791 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $156.17, for a total transaction of $123,530.47. Following the transaction, the chief operating officer owned 106,810 shares in the company, valued at $16,680,517.70. This represents a 0.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 189,651 shares of company stock valued at $31,784,545. 3.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on INSM. Stifel Nicolaus set a $205.00 target price on Insmed in a report on Thursday, February 19th. Bank of America set a $203.00 price objective on Insmed in a research report on Thursday, December 18th. Truist Financial set a $205.00 target price on Insmed in a research report on Monday, January 12th. Morgan Stanley set a $166.00 price target on Insmed in a research report on Friday, February 20th. Finally, Jefferies Financial Group set a $269.00 price target on shares of Insmed in a research note on Wednesday, December 10th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $207.52.

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.