Hedge Funds Sour Slightly On Insmed Incorporated (INSM), But Remain Overweight

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that sold off their entire stakes in the stock during the third quarter. It’s worth mentioning that Steve Cohen’s Point72 Asset Management sold off the biggest stake of the “upper crust” of funds monitored by Insider Monkey, valued at about $2 million in stock. Samuel Isaly’s fund, OrbiMed Advisors, also cut its call options, about $2 million worth, while retaining its aforementioned long position.

Let’s now review hedge fund activity in other stocks similar to Insmed Incorporated (NASDAQ:INSM). These stocks are Community Trust Bancorp, Inc. (NASDAQ:CTBI), Kronos Worldwide, Inc. (NYSE:KRO), Renren Inc (NYSE:RENN), and General Communication, Inc. (NASDAQ:GNCMA). This group of stocks’ market values match INSM’s market value.

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $9 million. That figure was $197 million in INSM’s case. Kronos Worldwide, Inc. (NYSE:KRO) is the most popular stock in this table. On the other hand Community Trust Bancorp, Inc. (NASDAQ:CTBI) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Insmed Incorporated (NASDAQ:INSM) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers and have a lot more money invested in it, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None