Patient Square Capital LP Makes New $12.53 Million Investment in Insmed Incorporated (NASDAQ:INSM)

Patient Square Capital LP bought a new position in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 171,704 shares of the biopharmaceutical company's stock, valued at approximately $12,534,000. Insmed comprises approximately 4.7% of Patient Square Capital LP's holdings, making the stock its 4th biggest holding. Patient Square Capital LP owned about 0.10% of Insmed as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of INSM. Ikarian Capital LLC grew its holdings in shares of Insmed by 196.6% during the 3rd quarter. Ikarian Capital LLC now owns 154,835 shares of the biopharmaceutical company's stock valued at $11,303,000 after purchasing an additional 102,639 shares during the last quarter. Bamco Inc. NY acquired a new position in shares of Insmed during the 3rd quarter valued at $2,956,000. Erste Asset Management GmbH bought a new position in shares of Insmed in the third quarter valued at $3,450,000. Eventide Asset Management LLC lifted its stake in shares of Insmed by 34.2% in the third quarter. Eventide Asset Management LLC now owns 906,395 shares of the biopharmaceutical company's stock valued at $66,167,000 after buying an additional 231,210 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Insmed by 40.9% during the third quarter. Captrust Financial Advisors now owns 6,280 shares of the biopharmaceutical company's stock valued at $458,000 after purchasing an additional 1,824 shares in the last quarter.

Insmed Trading Up 4.0 %

NASDAQ INSM traded up $2.93 on Wednesday, hitting $75.36. 1,332,830 shares of the stock were exchanged, compared to its average volume of 2,211,212. The company's 50-day moving average price is $72.21 and its two-hundred day moving average price is $69.01. The company has a market capitalization of $13.48 billion, a price-to-earnings ratio of -13.05 and a beta of 1.10. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts' consensus estimates of ($1.19) by ($0.08). The company had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. During the same quarter last year, the firm earned ($1.10) earnings per share. The business's quarterly revenue was up 18.1% compared to the same quarter last year. Research analysts predict that Insmed Incorporated will post -5.44 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. TD Cowen lifted their target price on shares of Insmed from $75.00 to $98.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Bank of America boosted their price objective on shares of Insmed from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. HC Wainwright reiterated a "buy" rating and issued a $90.00 price target on shares of Insmed in a research note on Friday, November 1st. StockNews.com cut shares of Insmed from a "hold" rating to a "sell" rating in a research note on Friday, August 9th. Finally, UBS Group increased their price objective on shares of Insmed from $78.00 to $84.00 and gave the company a "buy" rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $83.67.

Insider Buying and Selling at Insmed

In other news, insider Michael Alexander Smith sold 27,871 shares of the company's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the completion of the transaction, the insider now directly owns 67,856 shares of the company's stock, valued at $5,045,093.60. This represents a 29.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the company's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total value of $2,686,612.50. Following the sale, the insider now owns 100,100 shares in the company, valued at $7,157,150. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is currently owned by insiders.

Insmed Company Profile

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.