Westfield Capital Management Co. LP Boosts Stock Position in Insmed, Inc. (NASDAQ:INSM)

Key Points

• Westfield Capital Management Co. LP increased its stake in Insmed, Inc. by 49.9% in Q1, owning approximately 1.4 million shares valued at $107.31 million as of their latest SEC filing.
• Several institutional investors, including Teachers Retirement System of Kentucky and GAMMA Investing LLC, also significantly modified their holdings in Insmed during the same quarter, reflecting growing interest in the company's stock.
• Insmed's stock received multiple price target increases from analysts, with firms like Royal Bank of Canada and Wells Fargo boosting their targets, indicating a consensus rating of "Moderate Buy" and an average price target of $109.20.

Westfield Capital Management Co. LP grew its stake in Insmed, Inc. (NASDAQ:INSM - Free Report) by 49.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,406,609 shares of the biopharmaceutical company's stock after acquiring an additional 468,058 shares during the quarter. Westfield Capital Management Co. LP owned 0.77% of Insmed worth $107,310,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Strategic Investment Solutions Inc. IL purchased a new stake in Insmed in the first quarter worth about $79,000. US Bancorp DE boosted its stake in Insmed by 18.8% during the first quarter. US Bancorp DE now owns 11,323 shares of the biopharmaceutical company's stock valued at $864,000 after buying an additional 1,790 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of Insmed by 40.0% in the 1st quarter. Natixis Advisors LLC now owns 29,862 shares of the biopharmaceutical company's stock valued at $2,278,000 after purchasing an additional 8,537 shares during the last quarter. Bayforest Capital Ltd lifted its stake in shares of Insmed by 255.0% in the 1st quarter. Bayforest Capital Ltd now owns 7,054 shares of the biopharmaceutical company's stock valued at $538,000 after purchasing an additional 5,067 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Insmed in the 1st quarter valued at approximately $1,621,000.

Insmed Price Performance

Shares of NASDAQ INSM traded down $1.96 during midday trading on Thursday, hitting $109.30. The stock had a trading volume of 3,334,923 shares, compared to its average volume of 2,771,852. The company has a market capitalization of $20.74 billion, a PE ratio of -18.37 and a beta of 0.95. The stock has a 50 day simple moving average of $97.05 and a 200-day simple moving average of $81.86. Insmed, Inc. has a 1 year low of $60.40 and a 1 year high of $113.10. The company has a quick ratio of 5.44, a current ratio of 5.86 and a debt-to-equity ratio of 11.38.

Insmed (NASDAQ:INSM - Get Free Report) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.30) by ($0.40). Insmed had a negative net margin of 265.93% and a negative return on equity of 446.98%. The firm had revenue of $107.42 million during the quarter, compared to analysts' expectations of $104.06 million. During the same quarter last year, the business earned ($1.94) EPS. The business's revenue was up 18.9% compared to the same quarter last year. On average, sell-side analysts expect that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Analysts Set New Price Targets

INSM has been the subject of a number of research analyst reports. Royal Bank Of Canada raised their price target on Insmed from $99.00 to $106.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 11th. The Goldman Sachs Group lifted their price target on Insmed from $100.00 to $112.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Morgan Stanley boosted their target price on Insmed from $102.00 to $108.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Jefferies Financial Group reissued a "buy" rating on shares of Insmed in a report on Tuesday, June 10th. Finally, HC Wainwright increased their price objective on Insmed from $90.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $109.20.

Insider Buying and Selling

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total transaction of $9,264,648.24. Following the completion of the sale, the insider owned 89,407 shares of the company's stock, valued at $8,352,401.94. This trade represents a 52.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sara Bonstein sold 58,400 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $102.67, for a total value of $5,995,928.00. Following the sale, the chief financial officer directly owned 73,505 shares of the company's stock, valued at approximately $7,546,758.35. This trade represents a 44.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 599,767 shares of company stock worth $54,625,108 in the last three months. Company insiders own 3.00% of the company's stock.

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.