Insmed Incorporated (NASDAQ:INSM) is Vestal Point Capital LP’s Largest Position

Vestal Point Capital LP increased its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 113.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,600,000 shares of the biopharmaceutical company’s stock after purchasing an additional 850,000 shares during the period. Insmed makes up approximately 8.9% of Vestal Point Capital LP’s investment portfolio, making the stock its largest position. Vestal Point Capital LP owned 0.89% of Insmed worth $116,800,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its stake in shares of Insmed by 8.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 135 shares during the period. CIBC Asset Management Inc boosted its position in Insmed by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock valued at $324,000 after buying an additional 149 shares during the period. CWM LLC grew its stake in shares of Insmed by 11.0% in the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after acquiring an additional 155 shares in the last quarter. Commerce Bank increased its position in shares of Insmed by 2.4% during the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock worth $499,000 after acquiring an additional 163 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Insmed by 71.3% in the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 224 shares in the last quarter.

Insider Buying and Selling

In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the sale, the insider now directly owns 67,856 shares in the company, valued at approximately $5,045,093.60. The trade was a 29.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Martina M.D. Flammer sold 13,436 shares of the 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 transaction, the insider now directly owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. This trade represents a 11.24 % 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 three months. 4.60% of the stock is currently owned by company insiders.

Insmed Price Performance

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

Insmed (NASDAQ:INSM) last posted its quarterly earnings data 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 business had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $93.36 million. During the same period in the previous year, the company posted ($1.10) earnings per share. The firm’s revenue was up 18.1% compared to the same quarter last year. On average, analysts forecast that Insmed Incorporated will post -5.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on INSM shares. StockNews.com cut Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. 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 research note on Friday, August 9th. 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. Truist Financial reiterated a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. One equities 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.67.

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.