HighVista Strategies LLC Has $7.19 Million Stock Holdings in Insmed, Inc. $INSM

HighVista Strategies LLC grew its holdings in Insmed, Inc. (NASDAQ:INSM) by 330.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,949 shares of the biopharmaceutical company’s stock after acquiring an additional 38,354 shares during the period. Insmed accounts for approximately 1.8% of HighVista Strategies LLC’s holdings, making the stock its 12th largest position. HighVista Strategies LLC’s holdings in Insmed were worth $7,193,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of INSM. Vanguard Group Inc. lifted its stake in shares of Insmed by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,935,820 shares of the biopharmaceutical company’s stock valued at $2,870,957,000 after purchasing an additional 2,291,328 shares during the last quarter. Norges Bank acquired a new position in Insmed during the second quarter worth $194,728,000. Artisan Partners Limited Partnership increased its position in Insmed by 49.0% during the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after buying an additional 1,623,342 shares during the last quarter. Orbis Allan Gray Ltd bought a new position in Insmed during the second quarter valued at about $153,389,000. Finally, Darwin Global Management Ltd. raised its holdings in Insmed by 5.8% during the third quarter. Darwin Global Management Ltd. now owns 20,457,445 shares of the biopharmaceutical company’s stock valued at $2,897,797,000 after buying an additional 1,112,824 shares in the last quarter.

Insider Buying and Selling

In other news, insider Orlov S. Nicole Schaeffer sold 87,290 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $175.20, for a total value of $15,293,208.00. Following the completion of the transaction, the insider directly owned 41,754 shares of the company’s stock, valued at approximately $7,315,300.80. This represents a 67.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William Lewis sold 19,215 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $169.00, for a total value of $3,247,335.00. Following the transaction, the chief executive officer owned 306,891 shares of the company’s stock, valued at $51,864,579. This trade represents a 5.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 189,651 shares of company stock valued at $31,784,545. 3.00% of the stock is currently owned by insiders.

Insmed Price Performance

Shares of Insmed stock opened at $139.50 on Monday. The firm has a market cap of $30.07 billion, a P/E ratio of -21.76 and a beta of 1.13. The firm’s 50-day simple moving average is $155.18 and its 200-day simple moving average is $166.16. Insmed, Inc. has a twelve month low of $60.40 and a twelve month high of $212.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.54 and a current ratio of 3.83.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.47). The business had revenue of $263.84 million during the quarter, compared to analyst estimates of $263.97 million. Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The business’s revenue for the quarter was up 152.6% on a year-over-year basis. During the same period last year, the company earned ($1.32) EPS. As a group, research analysts expect that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on INSM shares. Royal Bank Of Canada upped their price target on Insmed from $197.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Jefferies Financial Group set a $269.00 target price on Insmed in a report on Wednesday, December 10th. HC Wainwright reaffirmed a “buy” rating and set a $230.00 target price on shares of Insmed in a research report on Monday, February 23rd. TD Cowen set a $241.00 price target on Insmed in a report on Thursday, December 18th. Finally, Wolfe Research set a $167.00 price objective on shares of Insmed and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $207.52.

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.