Brevan Howard Capital Management LP Has $42.35 Million Holdings in Insmed, Inc. $INSM

Brevan Howard Capital Management LP lifted its position in Insmed, Inc. (NASDAQ:INSM) by 45.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 294,047 shares of the biopharmaceutical company’s stock after acquiring an additional 91,453 shares during the quarter. Insmed makes up about 0.2% of Brevan Howard Capital Management LP’s holdings, making the stock its 24th biggest holding. Brevan Howard Capital Management LP’s holdings in Insmed were worth $42,346,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cinctive Capital Management LP grew its position in Insmed by 101.3% during the 3rd quarter. Cinctive Capital Management LP now owns 66,181 shares of the biopharmaceutical company’s stock worth $9,531,000 after purchasing an additional 33,307 shares in the last quarter. Bamco Inc. NY lifted its holdings in shares of Insmed by 4.1% in the third quarter. Bamco Inc. NY now owns 38,200 shares of the biopharmaceutical company’s stock valued at $5,501,000 after purchasing an additional 1,500 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Insmed by 39.9% in the third quarter. California Public Employees Retirement System now owns 310,886 shares of the biopharmaceutical company’s stock worth $44,771,000 after buying an additional 88,650 shares during the period. Bank of Nova Scotia purchased a new position in shares of Insmed during the third quarter valued at $72,904,000. Finally, Algert Global LLC grew its holdings in shares of Insmed by 76.7% during the third quarter. Algert Global LLC now owns 144,726 shares of the biopharmaceutical company’s stock valued at $20,842,000 after buying an additional 62,802 shares in the last quarter.

Insmed Stock Performance

Shares of NASDAQ INSM opened at $139.50 on Friday. The business’s 50-day simple moving average is $155.18 and its 200-day simple moving average is $165.94. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.54 and a current ratio of 3.83. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $212.75. The firm has a market cap of $30.07 billion, a price-to-earnings ratio of -21.76 and a beta of 1.13.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.47). Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The company had revenue of $263.84 million for the quarter, compared to analyst estimates of $263.97 million. During the same quarter last year, the business earned ($1.32) EPS. The company’s revenue for the quarter was up 152.6% on a year-over-year basis. As a group, equities research analysts expect that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

INSM has been the subject of several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $230.00 price objective on shares of Insmed in a research note on Monday, February 23rd. UBS Group reduced their price target on shares of Insmed from $223.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. Jefferies Financial Group set a $269.00 price target on shares of Insmed in a report on Wednesday, December 10th. Cantor Fitzgerald boosted their price objective on shares of Insmed from $216.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Finally, The Goldman Sachs Group increased their target price on shares of Insmed from $225.00 to $258.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $207.52.

Insiders Place Their Bets

In related news, CEO William Lewis sold 19,215 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $169.00, for a total value of $3,247,335.00. Following the sale, the chief executive officer owned 306,891 shares of the company’s stock, valued at $51,864,579. The trade was a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 87,290 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $175.20, for a total transaction of $15,293,208.00. Following the transaction, the insider owned 41,754 shares of the company’s stock, valued at approximately $7,315,300.80. This represents a 67.64% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 189,651 shares of company stock valued at $31,784,545. Corporate insiders own 3.00% 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.