Insmed (INSM) Rose Due to Positive Trial Results
Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” second quarter 2024 investor letter. A copy of the letter can be downloaded here. Small-cap stocks were unable to sustain the positive gains made in the first quarter and finished the second quarter in negative territory. Among the style indexes, the Russell 2000? Growth Index outperformed the Russell 2000? Value Index by a modest margin, with a decrease of 2.92% compared to a decrease of 3.75%. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Carillon Eagle Small Cap Growth Fund highlighted stocks like Insmed Incorporated (NASDAQ:INSM) in its Q2 2024 investor letter. Insmed Incorporated (NASDAQ:INSM) is a biopharmaceutical company that develops therapeutic products for patients with serious and rare diseases. The one-month return of Insmed Incorporated (NASDAQ:INSM) was 5.20%, and its shares gained 246.60% of their value over the last 52 weeks. On August 28, 2024, Insmed Incorporated (NASDAQ:INSM) stock closed at $76.53 per share with a market capitalization of $13.152 billion.
Carillon Eagle Small Cap Growth Fund stated the following regarding Insmed Incorporated (NASDAQ:INSM) in its Q2 2024 investor letter:
"Insmed Incorporated (NASDAQ:INSM) develops therapeutic products for patients with lung diseases. Its initial product, Arikayce, is for patients with refractory nontuberculous mycobacteria (NTM) lung disease and has a large addressable market. The company recently tested another product, Brensocatib, in a phase 3 trial for patients with bronchiectasis. Investors were excited about the positive results from the trial, demonstrating a reduction in pulmonary exacerbations, especially given the fact that the drug has a much larger addressable market."
A biopharmaceutical research team taking notes in front of a laboratory's microscope.
Insmed Incorporated (NASDAQ:INSM) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 74 hedge fund portfolios held Insmed Incorporated (NASDAQ:INSM) at the end of the second quarter which was 48 in the previous quarter. Insmed Incorporated (NASDAQ:INSM) reported global net revenues of $75.5 million in the first quarter of 2024, up 16% compared to Q1 2023. While we acknowledge the potential of Insmed Incorporated (NASDAQ:INSM) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Insmed Incorporated (NASDAQ:INSM) and shared Artisan Mid Cap Fund's views on the company. In addition, please check out our hedge fund investor letters Q2 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.