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

Vestal Point Capital LP boosted its position in Insmed Incorporated (NASDAQ:INSM) by 113.3% during the third quarter, Holdings Channel.com reports. The fund owned 1,600,000 shares of the biopharmaceutical company’s stock after purchasing an additional 850,000 shares during the quarter. Insmed accounts for 8.9% of Vestal Point Capital LP’s holdings, making the stock its largest holding. Vestal Point Capital LP’s holdings in Insmed were worth $116,800,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of INSM. Kennedy Capital Management LLC acquired a new stake in shares of Insmed during the first quarter valued at about $267,000. TimesSquare Capital Management LLC acquired a new stake in Insmed during the 3rd quarter valued at approximately $35,322,000. &PARTNERS purchased a new stake in Insmed during the 2nd quarter worth approximately $300,000. Jennison Associates LLC raised its position in shares of Insmed by 3.4% in the 3rd quarter. Jennison Associates LLC now owns 769,253 shares of the biopharmaceutical company’s stock valued at $56,155,000 after purchasing an additional 24,973 shares in the last quarter. Finally, WCM Investment Management LLC boosted its stake in shares of Insmed by 58.6% during the 3rd quarter. WCM Investment Management LLC now owns 148,330 shares of the biopharmaceutical company’s stock valued at $10,751,000 after buying an additional 54,806 shares during the last quarter.

Insider Buying and Selling at Insmed

In related news, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the transaction, the insider now owns 106,134 shares in the company, valued at $7,951,559.28. This trade represents a 11.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the business’s 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 sale, the insider now directly owns 100,100 shares in the company, valued at approximately $7,157,150. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,882 shares of company stock valued at $5,765,446 in the last quarter. Corporate insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Stifel Nicolaus upped their target price on shares of Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, August 9th. UBS Group boosted their price objective on Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Insmed in a report on Friday, November 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and an average target price of $83.67.

Insmed Stock Up 0.3 %

Shares of NASDAQ:INSM opened at $75.88 on Friday. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The company’s 50-day moving average price is $72.18 and its 200 day moving average price is $67.40.

Insmed (NASDAQ:INSM) last released its quarterly earnings results 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 firm had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. During the same quarter in the previous year, the business posted ($1.10) earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. On average, research analysts predict that Insmed Incorporated will post -5.44 earnings per share for the current fiscal 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.