Vestal Point Capital LP Purchases 850,000 Shares of Insmed Incorporated (NASDAQ:INSM)

Vestal Point Capital LP raised its position in Insmed Incorporated (NASDAQ:INSM - Free Report) by 113.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,600,000 shares of the biopharmaceutical company's stock after acquiring an additional 850,000 shares during the period. Insmed comprises 8.9% of Vestal Point Capital LP's portfolio, making the stock its biggest position. Vestal Point Capital LP owned about 0.89% of Insmed worth $116,800,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in INSM. Darwin Global Management Ltd. acquired a new position in shares of Insmed during the 2nd quarter worth approximately $237,076,000. Principal Financial Group Inc. lifted its stake in Insmed by 12.9% in the third 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 grew its position in shares of Insmed by 76.8% in the 2nd quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company's stock valued at $110,212,000 after acquiring an additional 714,539 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Insmed by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,444,266 shares of the biopharmaceutical company's stock worth $105,431,000 after purchasing an additional 137,670 shares during the last quarter. Finally, Hood River Capital Management LLC raised its holdings in shares of Insmed by 36.7% in the 2nd quarter. Hood River Capital Management LLC now owns 1,315,392 shares of the biopharmaceutical company's stock valued at $88,131,000 after purchasing an additional 352,891 shares during the period.

Analysts Set New Price Targets

INSM has been the topic of a number of research analyst reports. UBS Group increased their price target on Insmed from $78.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, August 9th. StockNews.com cut shares of Insmed from a "hold" rating to a "sell" rating in a research note on Friday, August 9th. Truist Financial reiterated a "buy" rating and issued a $105.00 price target (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. Cantor Fitzgerald restated an "overweight" rating on shares of Insmed in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Insmed from $74.00 to $83.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $83.67.

Insmed Stock Down 0.9 %

Shares of INSM stock traded down $0.72 during mid-day trading on Friday, reaching $75.16. 719,650 shares of the company's stock traded hands, compared to its average volume of 2,224,189. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53. The company's 50-day moving average price is $72.18 and its 200-day moving average price is $67.40. The company has a market cap of $13.45 billion, a P/E ratio of -13.54 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 (NASDAQ:INSM - Get Free Report) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing analysts' consensus estimates of ($1.19) by ($0.08). The business had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. The company's quarterly revenue was up 18.1% on a year-over-year basis. During the same period last year, the firm posted ($1.10) earnings per share. On average, equities analysts expect that Insmed Incorporated will post -5.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Michael Alexander Smith sold 27,871 shares of the firm'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 owns 67,856 shares in the company, valued at $5,045,093.60. This trade represents a 29.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of Insmed stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the transaction, the insider now directly owns 100,100 shares of the company's stock, valued at $7,157,150. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,882 shares of company stock valued at $5,765,446. 4.60% of the stock is owned by insiders.

About Insmed

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.