Iron Triangle Partners LP Sells 233,196 Shares of Insmed Incorporated (NASDAQ:INSM)

Iron Triangle Partners LP reduced its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 56.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 180,000 shares of the biopharmaceutical company’s stock after selling 233,196 shares during the quarter. Insmed accounts for approximately 1.8% of Iron Triangle Partners LP’s portfolio, making the stock its 20th largest holding. Iron Triangle Partners LP’s holdings in Insmed were worth $13,140,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TimesSquare Capital Management LLC purchased a new stake in shares of Insmed in the third quarter valued at $35,322,000. Ally Bridge Group NY LLC boosted its stake in Insmed by 16.9% in the third quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock valued at $11,011,000 after acquiring an additional 21,833 shares in the last quarter. &PARTNERS purchased a new stake in shares of Insmed in the second quarter valued at about $300,000. Jennison Associates LLC raised its stake in Insmed by 3.4% in the 3rd quarter. Jennison Associates LLC now owns 769,253 shares of the biopharmaceutical company’s stock valued at $56,155,000 after purchasing an additional 24,973 shares during the last quarter. Finally, Vestal Point Capital LP boosted its position in shares of Insmed by 113.3% in the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after buying an additional 850,000 shares during the period.

Insider Activity at Insmed

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

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Stifel Nicolaus upped their price target on Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. Bank of America increased their target price on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. TD Cowen increased their price objective on shares of Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.67.

Insmed Stock Down 3.6 %

Shares of NASDAQ INSM opened at $72.42 on Tuesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $80.53. The stock has a fifty day simple moving average of $72.21 and a two-hundred day simple moving average of $68.68.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The company had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.10) earnings per share. Sell-side analysts expect that Insmed Incorporated will post -5.44 EPS for the current fiscal year.

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.