22,813 Shares in Insmed, Inc. $INSM Bought by AXQ Capital LP

Key Points

• AXQ Capital LP acquired 22,813 Insmed shares during the second quarter, valued at approximately $2.43 million. Other major institutions, including Norges Bank, RTW Investments, and State Street, also increased or initiated positions.
• Insmed reported quarterly revenue of $425.49 million, up 296.1% year over year, and an adjusted loss of $0.06 per share that exceeded analyst expectations. The company remains unprofitable, with a negative net margin of 76.94%.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and an average price target of $205.52, while company insiders sold $35.6 million of stock during the last quarter.

AXQ Capital LP purchased a new stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 22,813 shares of the biopharmaceutical company's stock, valued at approximately $2,432,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Insmed during the 4th quarter worth $506,625,000. RTW Investments LP increased its holdings in Insmed by 57.0% during the fourth quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company's stock worth $842,855,000 after buying an additional 1,758,321 shares during the last quarter. Orbis Allan Gray Ltd bought a new stake in Insmed in the second quarter worth about $153,389,000. Bank of New York Mellon Corp bought a new stake in Insmed in the second quarter worth about $139,966,000. Finally, State Street Corp boosted its stake in Insmed by 30.6% in the fourth quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company's stock valued at $905,312,000 after acquiring an additional 1,217,390 shares during the last quarter.

Insiders Place Their Bets

In related news, COO Roger Adsett sold 239,850 shares of the business's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $133.27, for a total transaction of $31,964,809.50. Following the transaction, the chief operating officer owned 98,744 shares in the company, valued at $13,159,612.88. The trade was a 70.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Lewis sold 10,699 shares of the business's stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $117.40, for a total value of $1,256,062.60. Following the transaction, the chief executive officer directly owned 259,058 shares in the company, valued at $30,413,409.20. This trade represents a 3.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 273,753 shares of company stock valued at $35,604,764 in the last quarter. Insiders own 2.10% of the company's stock.

Insmed Price Performance

Insmed stock opened at $126.68 on Friday. The stock has a market cap of $27.66 billion, a price-to-earnings ratio of -30.82 and a beta of 0.82. The company has a quick ratio of 3.40, a current ratio of 3.72 and a debt-to-equity ratio of 0.74. The business has a 50-day simple moving average of $115.40 and a 200 day simple moving average of $125.21. Insmed, Inc. has a 52 week low of $90.39 and a 52 week high of $212.75.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.67) by $0.61. The company had revenue of $425.49 million during the quarter, compared to analyst estimates of $395.50 million. Insmed had a negative net margin of 76.94% and a negative return on equity of 123.94%. The firm's quarterly revenue was up 296.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.70) earnings per share. On average, research analysts forecast that Insmed, Inc. will post -1.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on INSM shares. Roth Capital reissued a "buy" rating on shares of Insmed in a report on Monday, June 8th. Jefferies Financial Group restated a "buy" rating and issued a $175.00 target price on shares of Insmed in a research note on Thursday, August 6th. JPMorgan Chase & Co. dropped their price target on Insmed from $179.00 to $175.00 and set an "overweight" rating on the stock in a research report on Monday, August 10th. Guggenheim decreased their price objective on Insmed from $207.00 to $205.00 and set a "buy" rating for the company in a report on Friday, August 7th. Finally, BMO Capital Markets started coverage on Insmed in a research note on Monday, July 20th. They issued an "outperform" rating and a $192.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $205.52.

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.

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