Castle Hook Partners LP Has $218.17 Million Stock Holdings in Insmed, Inc. $INSM

Castle Hook Partners LP raised its position in Insmed, Inc. (NASDAQ:INSM) by 14.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,253,568 shares of the biopharmaceutical company’s stock after buying an additional 162,163 shares during the quarter. Insmed accounts for 0.9% of Castle Hook Partners LP’s holdings, making the stock its 18th biggest holding. Castle Hook Partners LP’s holdings in Insmed were worth $218,171,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC grew its holdings in Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 53 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in 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 in the last quarter. Choreo LLC grew its holdings in 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 in the last quarter. EverSource Wealth Advisors LLC grew its holdings in 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 in the last quarter. Finally, ORG Partners LLC grew its holdings in 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 in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have commented on INSM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Insmed in a report on Tuesday, April 21st. HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a report on Friday, May 8th. Wells Fargo & Company decreased their price objective on Insmed from $177.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Raymond James Financial started coverage on Insmed in a report on Friday, April 10th. They set an “outperform” rating and a $200.00 target price on the stock. Finally, Morgan Stanley raised Insmed from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $166.00 to $212.00 in a report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.86.

Insmed Trading Up 3.1%

Shares of INSM stock opened at $98.45 on Thursday. The stock’s fifty day moving average price is $120.61 and its two-hundred day moving average price is $148.61. The company has a market cap of $21.34 billion, a PE ratio of -17.12 and a beta of 0.79. Insmed, Inc. has a fifty-two week low of $90.39 and a fifty-two week high of $212.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 130.11% and a negative net margin of 144.44%.The company’s revenue was up 229.7% compared to the same quarter last year. During the same quarter last year, the business posted ($1.42) EPS. Equities analysts predict that Insmed, Inc. will post -2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michael Alexander Smith sold 2,159 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $220,800.93. Following the sale, the insider directly owned 39,454 shares of the company’s stock, valued at $4,034,960.58. This trade represents a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sara Bonstein sold 2,404 shares of the firm’s 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 completion of 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 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. Over the last ninety days, insiders sold 149,783 shares of company stock valued at $22,902,672. 2.10% of the stock is owned by corporate insiders.

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.