Ishara Investments LP Invests $1.74 Million in Insmed, Inc. $INSM

Ishara Investments LP purchased a new position in shares of Insmed, Inc. (NASDAQ:INSM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,740,000. Insmed accounts for about 2.0% of Ishara Investments LP’s investment portfolio, making the stock its 18th biggest holding.

A number of other hedge funds also recently modified their holdings of the business. Gotham Asset Management LLC raised its position in shares of Insmed by 1,219.7% during the fourth quarter. Gotham Asset Management LLC now owns 21,762 shares of the biopharmaceutical company’s stock worth $3,787,000 after purchasing an additional 20,113 shares during the period. Engineers Gate Manager LP raised its position in shares of Insmed by 339.4% during the fourth quarter. Engineers Gate Manager LP now owns 54,783 shares of the biopharmaceutical company’s stock worth $9,534,000 after purchasing an additional 42,315 shares during the period. Evergreen Quality Fund GP Ltd. acquired a new stake in shares of Insmed during the fourth quarter worth about $20,972,000. Castle Hook Partners LP raised its position in shares of Insmed by 14.9% during the fourth quarter. Castle Hook Partners LP now owns 1,253,568 shares of the biopharmaceutical company’s stock worth $218,171,000 after purchasing an additional 162,163 shares during the period. Finally, ClearAlpha Technologies LP acquired a new stake in shares of Insmed during the fourth quarter worth about $201,000.

Insmed Stock Up 3.1%

Shares of Insmed stock opened at $98.45 on Thursday. The business’s 50 day simple moving average is $120.61 and its 200 day simple moving average is $148.61. Insmed, Inc. has a 52-week low of $90.39 and a 52-week high of $212.75. The firm has a market cap of $21.34 billion, a PE ratio of -17.12 and a beta of 0.79. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. The business had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.Insmed’s revenue for the quarter was up 229.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.42) EPS. On average, analysts predict that Insmed, Inc. will post -2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Barclays raised their price target on Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Roth Mkm reissued a “buy” rating on shares of Insmed in a research report on Monday, June 8th. JPMorgan Chase & Co. dropped their target price on Insmed from $180.00 to $179.00 and set an “overweight” rating on the stock in a research report on Monday, June 8th. Morgan Stanley raised Insmed from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $166.00 to $212.00 in a research report on Monday, March 30th. Finally, Truist Financial dropped their target price on Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.86.

Insider Buying and Selling

In other Insmed news, insider Michael Alexander Smith sold 19,638 shares of the firm’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $150.98, for a total value of $2,964,945.24. Following the completion of the transaction, the insider directly owned 51,871 shares in the company, valued at $7,831,483.58. This trade represents a 27.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William Lewis sold 10,699 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $143.97, for a total value of $1,540,335.03. Following the completion of the transaction, the chief executive officer owned 301,185 shares of the company’s stock, valued at approximately $43,361,604.45. This represents a 3.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 149,783 shares of company stock valued at $22,902,672 in the last ninety days. 2.10% of the stock is owned by company insiders.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.