Insmed, Inc. $INSM Stock Acquired by CenterBook Partners LP

CenterBook Partners LP raised its position in shares of Insmed, Inc. (NASDAQ:INSM) by 10.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,720 shares of the biopharmaceutical company’s stock after purchasing an additional 10,569 shares during the period. CenterBook Partners LP owned approximately 0.05% of Insmed worth $12,980,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in INSM. Private Advisor Group LLC lifted its position in Insmed by 1.8% in the first quarter. Private Advisor Group LLC now owns 4,749 shares of the biopharmaceutical company’s stock valued at $777,000 after purchasing an additional 82 shares during the last quarter. Glenmede Trust Co. NA grew its stake in Insmed by 5.4% in the first quarter. Glenmede Trust Co. NA now owns 1,916 shares of the biopharmaceutical company’s stock worth $313,000 after purchasing an additional 98 shares during the period. Waldron Private Wealth LLC lifted its position in Insmed by 1.1% during the 3rd quarter. Waldron Private Wealth LLC now owns 8,910 shares of the biopharmaceutical company’s stock valued at $1,017,000 after acquiring an additional 100 shares during the period. Yousif Capital Management LLC increased its position in Insmed by 4.7% during the 3rd quarter. Yousif Capital Management LLC now owns 2,993 shares of the biopharmaceutical company’s stock valued at $342,000 after buying an additional 134 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its position in shares of Insmed by 69.4% in the 3rd quarter. SBI Securities Co. Ltd. now owns 349 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 143 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Benchmark reaffirmed a “buy” rating on shares of Insmed in a report on Monday. Wells Fargo & Company increased their target price on shares of Insmed from $161.00 to $169.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. UBS Group reissued a “buy” rating on shares of Insmed in a research note on Thursday, October 8th. Evercore restated an “outperform” rating and set a $170.00 price objective on shares of Insmed in a research report on Friday, August 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $235.00 target price on shares of Insmed in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.52.

Insmed Stock Up 5.2%

Shares of INSM stock traded up $5.64 during mid-day trading on Friday, hitting $114.40. The stock had a trading volume of 3,379,748 shares, compared to its average volume of 3,687,983. The firm has a market capitalization of $25.10 billion, a P/E ratio of -40.57 and a beta of 0.83. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.86 and a quick ratio of 2.59. Insmed, Inc. has a 12-month low of $90.39 and a 12-month high of $212.75. The firm’s 50-day moving average is $111.21 and its two-hundred day moving average is $124.36.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, October 29th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.08). Insmed had a negative return on equity of 96.38% and a negative net margin of 39.85%. The business had revenue of $524.43 million for the quarter, compared to the consensus estimate of $500.36 million. During the same quarter in the previous year, the company earned ($1.75) earnings per share. The firm’s revenue was up 268.4% on a year-over-year basis. On average, analysts predict that Insmed, Inc. will post -1.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Insmed

In related news, COO Roger Adsett sold 239,850 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $133.27, for a total transaction of $31,964,809.50. Following the completion of the sale, the chief operating officer owned 98,744 shares of the company’s stock, valued at $13,159,612.88. This represents a 70.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David R. Brennan sold 25,000 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $124.00, for a total value of $3,100,000.00. Following the sale, the director owned 39,238 shares of the company’s stock, valued at approximately $4,865,512. This represents a 38.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.10% of the company’s stock.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing treatments for serious diseases, including respiratory and rare conditions. The company is based in Bridgewater, New Jersey, and is led by President and Chief Executive Officer William H. Lewis Jr.

Its commercial products include ARIKAYCE, an inhaled amikacin treatment for certain adults with refractory Mycobacterium avium complex lung disease, and BRINSUPRI (brensocatib), an oral treatment for non-cystic fibrosis bronchiectasis.