CenterBook Partners LP Purchases 10,569 Shares of Insmed, Inc. $INSM

CenterBook Partners LP increased its holdings in Insmed, Inc. (NASDAQ:INSM) by 10.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,720 shares of the biopharmaceutical company’s stock after buying an additional 10,569 shares during the quarter. CenterBook Partners LP’s holdings in Insmed were worth $12,980,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Virginia Estate & Retirement Planning Advisors Inc. purchased a new stake in shares of Insmed in the 3rd quarter valued at $29,000. SBI Securities Co. Ltd. grew its position in Insmed by 69.4% during the 3rd quarter. SBI Securities Co. Ltd. now owns 349 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 143 shares during the period. CX Institutional purchased a new position in shares of Insmed during the 3rd quarter valued at about $46,000. Harbor Investment Advisory LLC acquired a new position in shares of Insmed in the 2nd quarter valued at about $52,000. Finally, Heritage Family Offices LLP purchased a new stake in shares of Insmed in the third quarter worth about $60,000.

Insmed Trading Up 5.2%

Shares of INSM stock traded up $5.64 on Friday, hitting $114.40. 3,379,748 shares of the stock traded hands, compared to its average volume of 3,687,983. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.59 and a current ratio of 2.86. Insmed, Inc. has a twelve month low of $90.39 and a twelve month high of $212.75. The firm’s 50-day moving average price is $111.21 and its two-hundred day moving average price is $124.36. The stock has a market capitalization of $25.10 billion, a PE ratio of -40.57 and a beta of 0.83.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, October 29th. The biopharmaceutical company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.08). The firm had revenue of $524.43 million for the quarter, compared to analysts’ expectations of $500.36 million. Insmed had a negative return on equity of 96.38% and a negative net margin of 39.85%. Insmed’s revenue for the quarter was up 268.4% on a year-over-year basis. During the same period last year, the firm earned ($1.75) earnings per share. As a group, analysts anticipate that Insmed, Inc. will post -1.86 EPS for the current year.

Insider Activity

In other news, COO Roger Adsett sold 239,850 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $133.27, for a total value of $31,964,809.50. Following the sale, the chief operating officer directly owned 98,744 shares of the company’s stock, valued at approximately $13,159,612.88. The trade was a 70.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David R. Brennan sold 25,000 shares of Insmed stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $124.00, for a total value of $3,100,000.00. Following the completion of the sale, the director directly owned 39,238 shares of the company’s stock, valued at $4,865,512. The trade was a 38.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Insmed in a report on Thursday, October 15th. HC Wainwright assumed coverage on Insmed in a research note on Wednesday. They issued a “buy” rating and a $220.00 price target for the company. Stifel Nicolaus set a $195.00 price target on shares of Insmed in a report on Thursday, October 29th. Mizuho set a $154.00 price objective on shares of Insmed in a report on Thursday, October 29th. Finally, Wells Fargo & Company boosted their target price on shares of Insmed from $161.00 to $169.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three 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 “Moderate Buy” and an average target price of $196.52.

Insmed Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing treatments for serious diseases, including respiratory and rare conditions. The company is based in Bridgewater, New Jersey, and is led by President and Chief Executive Officer William H. Lewis Jr.

Its commercial products include ARIKAYCE, an inhaled amikacin treatment for certain adults with refractory Mycobacterium avium complex lung disease, and BRINSUPRI (brensocatib), an oral treatment for non-cystic fibrosis bronchiectasis.