HighVista Strategies LLC Lowers Stock Holdings in Insmed Incorporated (NASDAQ:INSM)

HighVista Strategies LLC reduced its holdings in Insmed Incorporated (NASDAQ:INSM) by 64.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,447 shares of the biopharmaceutical company’s stock after selling 81,333 shares during the period. Insmed comprises 1.1% of HighVista Strategies LLC’s holdings, making the stock its 21st largest position. HighVista Strategies LLC’s holdings in Insmed were worth $3,318,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in INSM. V Square Quantitative Management LLC acquired a new stake in Insmed in the 3rd quarter valued at $30,000. GAMMA Investing LLC raised its position 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 acquiring an additional 224 shares during the period. First Horizon Advisors Inc. lifted its holdings in Insmed by 83.4% during the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 287 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Insmed by 522.5% in the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 627 shares during the period. Finally, CWM LLC increased its stake in shares of Insmed by 11.0% during the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 155 shares in the last quarter.

Insiders Place Their Bets

In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction dated 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 completion of the sale, the insider now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the sale, the insider now directly owns 100,100 shares in the company, valued at $7,157,150. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 78,882 shares of company stock valued at $5,765,446 over the last quarter. 4.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

INSM has been the topic of a number of research reports. TD Cowen raised their price target on shares of Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Bank of America raised their target price on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. UBS Group boosted their price target on Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. StockNews.com lowered Insmed from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Stifel Nicolaus upped their target price on shares of Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.67.

Insmed Stock Down 3.6 %

Shares of INSM stock opened at $72.42 on Tuesday. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The firm’s 50-day moving average is $72.21 and its two-hundred day moving average is $68.68. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. During the same period in the prior year, the company earned ($1.10) EPS. Insmed’s revenue was up 18.1% on a year-over-year basis. Equities research analysts anticipate that Insmed Incorporated will post -5.44 EPS 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.