Havemeyer Place LP Makes New Investment in Insmed, Inc. $INSM

Havemeyer Place LP purchased a new position in shares of Insmed, Inc. (NASDAQ:INSM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 5,891 shares of the biopharmaceutical company’s stock, valued at approximately $1,025,000.

A number of other large investors also recently bought and sold shares of the stock. Vestcor Inc purchased a new position in Insmed during the fourth quarter worth approximately $738,000. Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in Insmed during the fourth quarter worth approximately $8,789,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Insmed during the fourth quarter worth approximately $261,000. Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in Insmed during the fourth quarter worth approximately $2,011,000. Finally, Harvest Fund Management Co. Ltd raised its stake in Insmed by 509.5% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 17,291 shares of the biopharmaceutical company’s stock worth $3,009,000 after purchasing an additional 14,454 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley raised shares of Insmed from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $166.00 to $212.00 in a research note on Monday, March 30th. Raymond James Financial initiated coverage on shares of Insmed in a research note on Friday, April 10th. They issued an “outperform” rating and a $200.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Insmed in a research note on Monday, March 16th. They issued a “buy” rating and a $228.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research note on Tuesday, April 21st. Finally, Mizuho raised their target price on shares of Insmed from $204.00 to $206.00 and gave the company an “outperform” rating in a research note on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $210.50.

Insmed Stock Performance

Insmed stock opened at $94.22 on Monday. Insmed, Inc. has a 12-month low of $70.57 and a 12-month high of $212.75. The company has a market capitalization of $20.42 billion, a price-to-earnings ratio of -16.39 and a beta of 0.79. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The firm’s fifty day moving average price is $130.45 and its 200 day moving average price is $154.65.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. During the same quarter in the previous year, the firm posted ($1.42) EPS. The firm’s quarterly revenue was up 229.7% on a year-over-year basis. On average, research analysts forecast that Insmed, Inc. will post -2.56 EPS for the current fiscal year.

Insider Activity

In related news, insider Michael Alexander Smith sold 2,159 shares of Insmed stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $220,800.93. Following the sale, the insider owned 39,454 shares of the company’s stock, valued at $4,034,960.58. The trade was a 5.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 7,605 shares of Insmed stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $777,763.35. Following the sale, the chief executive officer directly owned 265,432 shares in the company, valued at $27,145,730.64. This trade represents a 2.79% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 160,482 shares of company stock worth $24,438,193. Corporate insiders own 2.10% of the company’s stock.

Insmed Company 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.