Westfield Capital Management Co. LP Makes New $18.38 Million Investment in Insmed Incorporated (NASDAQ:INSM)

Westfield Capital Management Co. LP bought a new stake in Insmed Incorporated (NASDAQ:INSM - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 251,739 shares of the biopharmaceutical company's stock, valued at approximately $18,377,000. Westfield Capital Management Co. LP owned approximately 0.14% of Insmed as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in Insmed during the 3rd quarter valued at $30,000. EntryPoint Capital LLC bought a new position in shares of Insmed during the first quarter valued at about $33,000. GAMMA Investing LLC boosted its holdings in Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company's stock worth $39,000 after purchasing an additional 224 shares during the last quarter. First Horizon Advisors Inc. grew its position in Insmed by 83.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company's stock worth $42,000 after purchasing an additional 287 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in Insmed by 522.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company's stock valued at $55,000 after buying an additional 627 shares during the last quarter.

Insider Buying and Selling

In other news, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the sale, the insider now owns 106,134 shares in the company, valued at approximately $7,951,559.28. This trade represents a 11.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Alexander Smith sold 27,871 shares of the company's stock in a transaction that occurred on 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 owns 67,856 shares in the company, valued at approximately $5,045,093.60. This trade represents a 29.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,882 shares of company stock valued at $5,765,446. Company insiders own 4.60% of the company's stock.

Insmed Stock Performance

Shares of NASDAQ:INSM traded up $0.94 during midday trading on Monday, reaching $74.09. 1,693,596 shares of the company traded hands, compared to its average volume of 2,240,988. The firm's fifty day moving average price is $72.04 and its two-hundred day moving average price is $66.60. The firm has a market capitalization of $13.25 billion, a price-to-earnings ratio of -13.18 and a beta of 1.12. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to analysts' expectations of $93.36 million. During the same quarter in the previous year, the company posted ($1.10) EPS. The firm's revenue for the quarter was up 18.1% on a year-over-year basis. On average, equities analysts expect that Insmed Incorporated will post -5.42 earnings per share for the current year.

Wall Street Analyst Weigh In

INSM has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Insmed in a report on Monday, September 9th. Bank of America lifted their target price on Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. StockNews.com lowered shares of Insmed from a "hold" rating to a "sell" rating in a research report on Friday, August 9th. JPMorgan Chase & Co. lifted their price objective on shares of Insmed from $74.00 to $83.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Truist Financial reissued a "buy" rating and set a $105.00 target price (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $83.67.

Insmed 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.