Insmed Incorporated (NASDAQ:INSM) Stake Reduced by HighVista Strategies LLC

HighVista Strategies LLC lowered its holdings in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 64.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,447 shares of the biopharmaceutical company's stock after selling 81,333 shares during the period. Insmed accounts for 1.1% of HighVista Strategies LLC's investment portfolio, making the stock its 21st largest holding. HighVista Strategies LLC's holdings in Insmed were worth $3,318,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Darwin Global Management Ltd. acquired a new stake in shares of Insmed during the second quarter worth about $237,076,000. Principal Financial Group Inc. raised its stake in Insmed by 12.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company's stock valued at $136,648,000 after acquiring an additional 214,130 shares during the last quarter. Clearbridge Investments LLC lifted its position in Insmed by 76.8% during the 2nd quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company's stock worth $110,212,000 after acquiring an additional 714,539 shares during the period. Vestal Point Capital LP grew its stake in shares of Insmed by 113.3% in the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company's stock valued at $116,800,000 after purchasing an additional 850,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Insmed by 10.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,444,266 shares of the biopharmaceutical company's stock valued at $105,431,000 after purchasing an additional 137,670 shares during the period.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INSM. UBS Group increased their price target on Insmed from $78.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Truist Financial reiterated a "buy" rating and set a $105.00 price target (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. TD Cowen lifted their price objective on Insmed from $75.00 to $98.00 and gave the company a "buy" rating in a report on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on Insmed from $74.00 to $83.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. Finally, Bank of America lifted their price target on Insmed from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.67.

Insider Buying and Selling

In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of the company's stock in a transaction that occurred on 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 sale, the insider now owns 106,134 shares in the company, valued at $7,951,559.28. This represents a 11.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 100,100 shares in the company, valued at approximately $7,157,150. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,882 shares of company stock worth $5,765,446. Insiders own 4.60% of the company's stock.

Insmed Trading Up 0.0 %

Shares of INSM traded up $0.01 during mid-day trading on Tuesday, hitting $72.43. The company had a trading volume of 1,184,225 shares, compared to its average volume of 2,217,724. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The business's 50-day simple moving average is $72.21 and its 200-day simple moving average is $68.68. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $80.53.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The company 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 business earned ($1.10) earnings per share. The business's quarterly revenue was up 18.1% compared to the same quarter last year. On average, research analysts predict that Insmed Incorporated will post -5.44 earnings per share for the current year.

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.