Defilade Capital Management L.P. Has $31.87 Million Stake in Insmed, Inc. $INSM

Defilade Capital Management L.P. raised its position in Insmed, Inc. (NASDAQ:INSM) by 289.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 194,909 shares of the biopharmaceutical company’s stock after purchasing an additional 144,909 shares during the quarter. Insmed accounts for 4.5% of Defilade Capital Management L.P.’s investment portfolio, making the stock its 7th largest holding. Defilade Capital Management L.P.’s holdings in Insmed were worth $31,872,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC increased its holdings in shares of Insmed by 42.1% during the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 53 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Insmed by 10.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 747 shares of the biopharmaceutical company’s stock worth $130,000 after acquiring an additional 69 shares in the last quarter. Private Advisor Group LLC grew its position in Insmed by 1.8% during the 1st quarter. Private Advisor Group LLC now owns 4,749 shares of the biopharmaceutical company’s stock worth $777,000 after acquiring an additional 82 shares during the last quarter. Glenmede Trust Co. NA grew its position in Insmed by 5.4% during the 1st quarter. Glenmede Trust Co. NA now owns 1,916 shares of the biopharmaceutical company’s stock worth $313,000 after acquiring an additional 98 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in Insmed by 20.5% during the 4th quarter. Allworth Financial LP now owns 635 shares of the biopharmaceutical company’s stock valued at $111,000 after purchasing an additional 108 shares in the last quarter.

Wall Street Analyst Weigh In

INSM has been the subject of several research analyst reports. Roth Capital reiterated a “buy” rating on shares of Insmed in a research report on Monday, June 8th. HC Wainwright restated a “buy” rating and set a $220.00 target price on shares of Insmed in a report on Monday, July 20th. Wells Fargo & Company raised their target price on Insmed from $160.00 to $161.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Mizuho set a $192.00 price target on Insmed in a report on Tuesday, June 16th. Finally, Truist Financial reduced their price target on shares of Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $209.35.

Insmed Price Performance

Shares of INSM stock opened at $98.60 on Monday. Insmed, Inc. has a 52-week low of $90.39 and a 52-week high of $212.75. The stock has a market cap of $21.37 billion, a PE ratio of -17.15 and a beta of 0.81. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. The firm’s 50 day moving average price is $104.68 and its two-hundred day moving average price is $130.76.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same period last year, the company earned ($1.42) EPS. The firm’s revenue was up 229.7% on a year-over-year basis. As a group, analysts forecast that Insmed, Inc. will post -2.43 EPS for the current year.

Insider Buying and Selling

In other news, COO Roger Adsett sold 2,370 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $242,379.90. Following the completion of the transaction, the chief operating officer directly owned 98,603 shares in the company, valued at approximately $10,084,128.81. The trade was a 2.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 21,398 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $103.32, for a total value of $2,210,841.36. Following the completion of the sale, the chief executive officer directly owned 258,917 shares of the company’s stock, valued at approximately $26,751,304.44. This trade represents a 7.63% 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. Over the last three months, insiders sold 54,590 shares of company stock worth $5,793,738. Corporate insiders own 2.10% of the company’s stock.

About Insmed

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.