Westfield Capital Management Co. LP Buys Shares of 251,739 Insmed Incorporated (NASDAQ:INSM)

Westfield Capital Management Co. LP purchased a new position in shares of Insmed Incorporated (NASDAQ:INSM) in the third quarter, HoldingsChannel reports. The firm purchased 251,739 shares of the biopharmaceutical company’s stock, valued at approximately $18,377,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INSM. Nisa Investment Advisors LLC boosted its stake in Insmed by 8.2% during the second quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 135 shares during the period. CIBC Asset Management Inc lifted its stake in Insmed by 3.5% during the third quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock worth $324,000 after purchasing an additional 149 shares in the last quarter. CWM LLC boosted its position in shares of Insmed by 11.0% during the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 155 shares during the period. Commerce Bank grew its stake in shares of Insmed by 2.4% in the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock valued at $499,000 after buying an additional 163 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 224 shares during the period.

Insmed Trading Down 0.9 %

INSM opened at $73.15 on Monday. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $80.53. The business’s 50 day moving average is $72.04 and its two-hundred day moving average is $66.31.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. During the same quarter last year, the firm earned ($1.10) earnings per share. Insmed’s revenue for the quarter was up 18.1% on a year-over-year basis. Analysts predict that Insmed Incorporated will post -5.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Insmed

In related news, insider Michael Alexander Smith sold 27,871 shares of Insmed stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the transaction, the insider now directly owns 67,856 shares in the company, valued at $5,045,093.60. This trade represents a 29.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the sale, the insider now owns 106,134 shares of the company’s stock, valued at $7,951,559.28. This trade represents a 11.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

INSM has been the topic of a number of recent research reports. Truist Financial reiterated a “buy” rating and set a $105.00 price target (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. UBS Group raised their price target on shares of Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, August 9th. StockNews.com lowered Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Stifel Nicolaus boosted their target price on Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. increased their price target on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.67.

Insmed Company Profile

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.