Driehaus Capital Management LLC Invests $6.97 Million in Insmed Incorporated (NASDAQ:INSM)

Driehaus Capital Management LLC purchased a new position in shares of Insmed Incorporated (NASDAQ:INSM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 104,041 shares of the biopharmaceutical company’s stock, valued at approximately $6,971,000. Driehaus Capital Management LLC owned 0.07% of Insmed as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC boosted its holdings in Insmed by 62.8% during the second quarter. Susquehanna Fundamental Investments LLC now owns 270,960 shares of the biopharmaceutical company’s stock worth $18,154,000 after buying an additional 104,551 shares in the last quarter. Scientech Research LLC acquired a new position in shares of Insmed in the second quarter valued at approximately $1,351,000. Lighthouse Investment Partners LLC acquired a new position in Insmed during the second quarter worth approximately $2,345,000. Long Focus Capital Management LLC increased its position in Insmed by 71.6% during the second quarter. Long Focus Capital Management LLC now owns 740,900 shares of the biopharmaceutical company’s stock worth $49,640,000 after purchasing an additional 309,251 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Insmed by 21.6% during the second quarter. The Manufacturers Life Insurance Company now owns 283,011 shares of the biopharmaceutical company’s stock worth $18,962,000 after purchasing an additional 50,330 shares during the last quarter.

Insmed Stock Performance

Shares of INSM opened at $72.48 on Monday. The firm’s 50 day moving average is $74.29 and its 200-day moving average is $53.61. The stock has a market capitalization of $10.77 billion, a P/E ratio of -13.86 and a beta of 1.11. The company has a debt-to-equity ratio of 25.05, a current ratio of 2.71 and a quick ratio of 2.53. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $80.53.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The firm had revenue of $90.34 million for the quarter, compared to the consensus estimate of $87.95 million. Insmed’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.78) earnings per share. Equities research analysts anticipate that Insmed Incorporated will post -5.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

INSM has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Insmed from $55.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Truist Financial reduced their price objective on shares of Insmed from $88.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. UBS Group raised their price target on shares of Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Mizuho raised their price target on shares of Insmed from $36.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Insmed in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.40.

Insiders Place Their Bets

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total value of $2,686,612.50. Following the completion of the transaction, the insider now directly owns 100,100 shares in the company, valued at $7,157,150. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the transaction, the insider now directly owns 67,856 shares in the company, valued at $5,045,093.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm’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 sale, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. The disclosure for this sale can be found here. Insiders sold a total of 78,882 shares of company stock worth $5,765,446 over the last ninety days. 4.60% of the stock is currently owned by company insiders.

About Insmed

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.