AQR Capital Management LLC Boosts Holdings in Insmed Incorporated (NASDAQ:INSM)

AQR Capital Management LLC raised its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 59.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 60,527 shares of the biopharmaceutical company’s stock after buying an additional 22,616 shares during the period. AQR Capital Management LLC’s holdings in Insmed were worth $4,055,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Kingdon Capital Management L.L.C. acquired a new position in Insmed in the fourth quarter valued at approximately $12,551,000. Artia Global Partners LP purchased a new stake in Insmed during the fourth quarter worth $2,322,000. Clearbridge Investments LLC acquired a new stake in Insmed during the first quarter valued at $25,242,000. Kennedy Capital Management LLC purchased a new position in Insmed in the first quarter valued at $267,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Insmed in the first quarter worth about $4,515,000.

Insider Buying and Selling at Insmed

In other news, insider Martina M.D. Flammer sold 13,436 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the transaction, the insider now directly owns 106,134 shares in the company, valued at approximately $7,951,559.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Martina M.D. Flammer sold 13,436 shares of the business’s stock in a transaction 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 sale, the insider now owns 106,134 shares in the company, valued at approximately $7,951,559.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. This trade represents a 0.00 % decrease in their ownership of the stock. 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 three months. Insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

INSM has been the subject of a number of research analyst reports. Guggenheim upped their price objective on shares of Insmed from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. StockNews.com lowered shares of Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. Bank of America restated a “buy” rating and issued a $83.00 target price on shares of Insmed in a research report on Friday, July 5th. Finally, Evercore ISI boosted their price target on Insmed from $42.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and an average target price of $81.53.

Insmed Trading Up 1.2 %

Shares of Insmed stock opened at $72.27 on Friday. The stock has a 50 day moving average of $74.03 and a 200 day moving average of $55.22. The company has a debt-to-equity ratio of 25.05, a quick ratio of 2.53 and a current ratio of 2.71. The firm has a market capitalization of $10.74 billion, a price-to-earnings ratio of -13.82 and a beta of 1.11. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The firm had revenue of $90.34 million during the quarter, compared to analyst estimates of $87.95 million. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the company posted ($1.78) EPS. As a group, research analysts predict that Insmed Incorporated will post -5.42 earnings per share for the current year.

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.