HighVista Strategies LLC Reduces Stake in Insmed, Inc. $INSM

HighVista Strategies LLC cut its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 45.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,595 shares of the biopharmaceutical company’s stock after selling 9,845 shares during the period. HighVista Strategies LLC’s holdings in Insmed were worth $1,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of INSM. Hilltop National Bank bought a new position in shares of Insmed during the 2nd quarter valued at approximately $28,000. ORG Partners LLC boosted its holdings in shares of Insmed by 220.2% in the second quarter. ORG Partners LLC now owns 285 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 196 shares during the period. FNY Investment Advisers LLC bought a new position in Insmed in the second quarter worth approximately $33,000. LRI Investments LLC bought a new stake in Insmed during the 2nd quarter valued at $59,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Insmed by 65.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 263 shares during the period.

Insmed Stock Down 2.2%

Shares of INSM opened at $189.85 on Thursday. The stock’s 50-day moving average price is $183.45 and its 200-day moving average price is $137.61. The company has a quick ratio of 4.34, a current ratio of 4.63 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $40.49 billion, a price-to-earnings ratio of -30.67 and a beta of 1.01. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $212.75.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.40). The company had revenue of $142.34 million during the quarter, compared to analysts’ expectations of $114.33 million. Insmed had a negative return on equity of 183.55% and a negative net margin of 264.83%.The company’s revenue for the quarter was up 52.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.27) EPS. On average, sell-side analysts predict that Insmed, Inc. will post -4.56 EPS for the current year.

Insider Activity

In other news, insider Michael Alexander Smith sold 27,130 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $183.78, for a total transaction of $4,985,951.40. Following the sale, the insider directly owned 54,902 shares of the company’s stock, valued at $10,089,889.56. This represents a 33.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Orlov S. Nicole Schaeffer sold 30,000 shares of Insmed stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $194.00, for a total value of $5,820,000.00. Following the completion of the transaction, the insider owned 36,461 shares of the company’s stock, valued at approximately $7,073,434. This represents a 45.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 233,650 shares of company stock valued at $41,063,785 in the last three months. Corporate insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Morgan Stanley boosted their price target on shares of Insmed from $126.00 to $144.00 and gave the company an “equal weight” rating in a report on Thursday, August 21st. Cowen restated a “buy” rating on shares of Insmed in a research note on Wednesday. Jefferies Financial Group set a $269.00 price target on Insmed in a research note on Wednesday. TD Cowen raised their price objective on Insmed from $223.00 to $231.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. Finally, Redburn Partners set a $263.00 target price on Insmed in a report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Insmed has a consensus rating of “Moderate Buy” and an average target price of $194.26.

About Insmed

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.