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Deerfield Management Boosts Stake In Insmed Incorporated (INSM)

James E. Flynn is bullish on Insmed Incorporated (NASDAQ:INSM) and ccording to a recent filing with the Securities and Exchange Commission, Flynn and his funds, Deerfield Management, have increased their stake to 3.04 million shares, a position that accounts for 7.75% of the company’s common shares.

Insmed Incorporated (NASDAQ:INSM)

Israel Englander, the manager of Millennium Management, is also optimistic about the prospects of Insmed Incorporated (NASDAQ:INSM), having increased his fund’s stake by 27% during the fourth quarter of 2013. Millennium Management has reported ownership of 1.63 million shares valued at $27.7 million in its latest 13F filing. Steven Cohen has also upped his interest during the last quarter of 2013, having increased his fund’s holding of the stock by 36% to approximately 492,900 shares valued at $8.38 million.

Insmed Incorporated (NASDAQ:INSM) engages in the production of inhaled therapies for patients with lung diseases. The company has a market cap of $610 million and does not pay a dividend. Insmed did not register any revenues during the three months ending December 31, 2013 and has reported a loss of $0.41  per share. The stock had entered an uptrend in August 2012 and has peaked in January 2014, when it entered a correction. It is currently trading at $15.64 per share.

In a series of recent moves, Flynn has increased his fund’s investment in Streamline Health Solutions Inc. (NASDAQ:STRM) to 1.14 million shares or 6.56% of the total number of shares outstanding. Flynn has also upped his interest in Alphatec Holdings Inc (NASDAQ:ATEC), taking his fund’s position to 14.2 million shares which account for 9.98% of the company’s common stock. Another company Flynn is also bullish on is OvaScience Inc (NASDAQ:OVAS), having upped Deerfield’s stake to 1.8 million shares or 7.6% of the company’s common stock

Disclosure: none.

Recommended reading:

James Flynn, Deerfield Management Boost Stake in Streamline Health Solutions Inc. (STRM)

James Flynn, Deerfield Management Step Up Interest In Alphatec Holdings Inc (ATEC)

Deerfield Management Boosts Its Stake in OvaScience Inc (OVAS)

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