Vestal Point Capital LP Sells 700,000 Shares of Insmed Incorporated (NASDAQ:INSM)

Vestal Point Capital LP lessened its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 43.8% during the 4th quarter, HoldingsChannel reports. The firm owned 900,000 shares of the biopharmaceutical company’s stock after selling 700,000 shares during the period. Insmed comprises approximately 3.7% of Vestal Point Capital LP’s holdings, making the stock its 6th largest holding. Vestal Point Capital LP’s holdings in Insmed were worth $62,136,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of INSM. Darwin Global Management Ltd. increased its holdings in Insmed by 23.5% during the 4th quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock worth $894,796,000 after purchasing an additional 2,463,261 shares in the last quarter. Norges Bank bought a new stake in shares of Insmed in the fourth quarter valued at about $126,606,000. Vanguard Group Inc. boosted its position in shares of Insmed by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock worth $1,257,838,000 after buying an additional 1,075,796 shares during the period. Brown Advisory Inc. bought a new position in shares of Insmed during the fourth quarter worth about $45,773,000. Finally, Adage Capital Partners GP L.L.C. grew its holdings in shares of Insmed by 59.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,647,562 shares of the biopharmaceutical company’s stock worth $113,748,000 after buying an additional 615,000 shares in the last quarter.

Analysts Set New Price Targets

INSM has been the topic of several research reports. Wells Fargo & Company boosted their target price on Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Bank of America lifted their price objective on shares of Insmed from $92.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, March 20th. Truist Financial increased their target price on shares of Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, February 21st. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Insmed in a research report on Monday, May 12th. Finally, UBS Group lowered their price target on shares of Insmed from $110.00 to $109.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Insmed currently has an average rating of “Moderate Buy” and an average price target of $94.63.

Insmed Trading Up 1.3%

Shares of NASDAQ:INSM opened at $68.12 on Monday. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $84.91. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The company has a market capitalization of $12.41 billion, a P/E ratio of -12.19 and a beta of 0.84. The company has a 50-day simple moving average of $71.57 and a 200 day simple moving average of $73.16.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The business had revenue of $92.82 million during the quarter, compared to the consensus estimate of $91.63 million. During the same quarter in the prior year, the company earned ($1.06) EPS. Insmed’s quarterly revenue was up 22.9% on a year-over-year basis. Sell-side analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current year.

Insider Activity at Insmed

In other news, insider Michael Alexander Smith sold 4,407 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $67.81, for a total transaction of $298,838.67. Following the completion of the sale, the insider now owns 92,203 shares in the company, valued at approximately $6,252,285.43. This trade represents a 4.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.03, for a total transaction of $1,519,312.50. Following the sale, the chief executive officer now directly owns 334,186 shares of the company’s stock, valued at $27,079,091.58. The trade was a 5.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 150,559 shares of company stock worth $11,056,634. Company insiders own 3.00% of the company’s stock.

Insmed Profile

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.