Diametric Capital LP Takes $781,000 Position in Insmed, Inc. $INSM

Diametric Capital LP acquired a new position in shares of Insmed, Inc. (NASDAQ:INSM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,757 shares of the biopharmaceutical company’s stock, valued at approximately $781,000.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Insmed in the second quarter valued at $194,728,000. Adage Capital Partners GP L.L.C. increased its holdings in Insmed by 109.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 3,446,944 shares of the biopharmaceutical company’s stock valued at $262,967,000 after acquiring an additional 1,799,382 shares in the last quarter. Nuveen LLC acquired a new position in Insmed during the first quarter worth about $88,351,000. 1832 Asset Management L.P. purchased a new stake in shares of Insmed in the first quarter valued at about $37,214,000. Finally, Wellington Management Group LLP grew its position in shares of Insmed by 62.5% in the first quarter. Wellington Management Group LLP now owns 1,222,627 shares of the biopharmaceutical company’s stock valued at $93,274,000 after purchasing an additional 470,401 shares during the last quarter.

Insiders Place Their Bets

In related news, Director Leo Lee sold 75,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $195.90, for a total transaction of $14,692,500.00. Following the sale, the director directly owned 54,677 shares in the company, valued at approximately $10,711,224.30. This trade represents a 57.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Elizabeth M. Anderson sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $204.58, for a total value of $1,022,900.00. Following the transaction, the director directly owned 58,729 shares in the company, valued at $12,014,778.82. This trade represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 233,650 shares of company stock valued at $41,063,785. Company insiders own 3.00% of the company’s stock.

Insmed Stock Performance

Shares of INSM stock opened at $205.04 on Friday. The company has a current ratio of 4.63, a quick ratio of 4.34 and a debt-to-equity ratio of 0.59. The company has a market cap of $43.73 billion, a PE ratio of -33.12 and a beta of 1.01. The company’s fifty day simple moving average is $179.16 and its 200-day simple moving average is $133.54. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $212.75.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.35) by ($0.40). Insmed had a negative net margin of 264.83% and a negative return on equity of 183.55%. The company had revenue of $142.34 million during the quarter, compared to analyst estimates of $114.33 million. During the same quarter in the prior year, the company posted ($1.27) earnings per share. The firm’s revenue for the quarter was up 52.4% on a year-over-year basis. As a group, equities research analysts anticipate that Insmed, Inc. will post -4.56 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on INSM shares. Guggenheim upped their price target on shares of Insmed from $125.00 to $172.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Evercore ISI reissued an “outperform” rating and set a $180.00 price objective on shares of Insmed in a research note on Wednesday, October 1st. JPMorgan Chase & Co. upped their price objective on Insmed from $111.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Jefferies Financial Group lifted their target price on Insmed from $129.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. Finally, Redburn Partners set a $263.00 price target on Insmed in a research report on Thursday. Twenty analysts have rated the stock with a Buy rating, one has given a Hold 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 an average price target of $187.89.

Insmed Company 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.