Havemeyer Place LP Makes New Investment in Insmed, Inc. $INSM

Havemeyer Place LP acquired a new position in shares of Insmed, Inc. (NASDAQ:INSM) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 5,891 shares of the biopharmaceutical company’s stock, valued at approximately $1,025,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC grew its holdings in Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 53 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in shares of Insmed by 2.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 2,321 shares of the biopharmaceutical company’s stock valued at $334,000 after buying an additional 60 shares during the period. Choreo LLC boosted its holdings in shares of Insmed by 2.9% in the 3rd quarter. Choreo LLC now owns 2,319 shares of the biopharmaceutical company’s stock valued at $334,000 after buying an additional 65 shares during the period. 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 valued at $130,000 after buying an additional 69 shares during the period. Finally, ORG Partners LLC boosted its holdings in shares of Insmed by 12.7% in the 4th quarter. ORG Partners LLC now owns 657 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 74 shares during the period.

Insider Activity

In related news, CFO Sara Bonstein sold 2,404 shares of Insmed stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $245,857.08. Following the sale, the chief financial officer directly owned 69,082 shares in the company, valued at $7,065,016.14. This trade represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 7,605 shares of Insmed stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction 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 represents a 2.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 160,482 shares of company stock valued at $24,438,193. 2.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Truist Financial decreased their price target on shares of Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Barclays lifted their price target on shares of Insmed from $231.00 to $237.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. Stifel Nicolaus lifted their price target on shares of Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Wells Fargo & Company decreased their price target on shares of Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Finally, Leerink Partners lifted their price target on shares of Insmed from $210.00 to $215.00 and gave the company an “outperform” rating in a report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.50.

Insmed Stock Performance

Shares of NASDAQ:INSM opened at $94.22 on Monday. The company has a market cap of $20.42 billion, a PE ratio of -16.39 and a beta of 0.79. The company’s 50-day moving average price is $130.45 and its 200 day moving average price is $154.65. Insmed, Inc. has a fifty-two week low of $70.57 and a fifty-two week high of $212.75. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.14. The firm had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. Insmed’s quarterly revenue was up 229.7% compared to the same quarter last year. During the same period last year, the firm posted ($1.42) EPS. Sell-side analysts anticipate that Insmed, Inc. will post -2.56 earnings per share for the current year.

Insmed 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.