Castle Hook Partners LP Purchases 162,163 Shares of Insmed, Inc. $INSM

Castle Hook Partners LP raised its position in Insmed, Inc. (NASDAQ:INSM) by 14.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,253,568 shares of the biopharmaceutical company’s stock after acquiring an additional 162,163 shares during the period. Insmed comprises 0.9% of Castle Hook Partners LP’s portfolio, making the stock its 18th biggest position. Castle Hook Partners LP owned about 0.59% of Insmed worth $218,171,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. CoreCap Advisors LLC bought a new stake in Insmed in the 4th quarter valued at approximately $27,000. GraniteShares Advisors LLC bought a new stake in Insmed in the 4th quarter valued at approximately $30,000. CIBC Private Wealth Group LLC lifted its stake in Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 53 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in Insmed in the 4th quarter valued at approximately $32,000. Finally, Larson Financial Group LLC lifted its stake in Insmed by 137.0% in the 4th quarter. Larson Financial Group LLC now owns 256 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 148 shares in the last quarter.

Insiders Place Their Bets

In related news, CFO Sara Bonstein sold 2,404 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $245,857.08. Following the sale, the chief financial officer owned 69,082 shares in the company, valued at approximately $7,065,016.14. This represents a 3.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 7,605 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $777,763.35. Following the completion of the sale, the chief executive officer owned 265,432 shares in the company, valued at approximately $27,145,730.64. This trade represents a 2.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 149,783 shares of company stock worth $22,902,672 in the last quarter. Insiders own 2.10% of the company’s stock.

Insmed Stock Up 3.1%

INSM opened at $98.45 on Thursday. Insmed, Inc. has a 1-year low of $90.39 and a 1-year high of $212.75. The stock’s fifty day simple moving average is $120.61 and its 200 day simple moving average is $148.61. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The stock has a market cap of $21.34 billion, a PE ratio of -17.12 and a beta of 0.79.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $300.81 million. During the same quarter in the prior year, the business earned ($1.42) EPS. The firm’s revenue for the quarter was up 229.7% on a year-over-year basis. As a group, research analysts expect that Insmed, Inc. will post -2.54 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on INSM shares. Guggenheim dropped their price objective on Insmed from $230.00 to $226.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Barclays upped their price objective on Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 1st. Morgan Stanley upgraded Insmed from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $166.00 to $212.00 in a research note on Monday, March 30th. Stifel Nicolaus upped their price objective on Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Finally, JPMorgan Chase & Co. dropped their price objective on Insmed from $180.00 to $179.00 and set an “overweight” rating on the stock in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and an average target price of $211.86.

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.