ADAR1 Capital Management LLC Invests $5.79 Million in Insmed, Inc. $INSM

Key Points

• ADAR1 Capital Management initiated a $5.79 million position in Insmed during the first quarter by purchasing 35,392 shares. Other major institutions, including Vanguard, State Street and RTW Investments, also increased their holdings.
• Insmed reported first-quarter revenue of $305.96 million, up 229.7% year over year, and an adjusted loss of $0.76 per share that beat analyst expectations. The company remains unprofitable, with analysts forecasting a full-year loss of $2.43 per share.
• Analysts maintain a broadly positive view, with the stock carrying an average “Buy” rating and a consensus price target of $209.35, despite several recent target-price cuts. Insmed shares opened at $104.13, well below their 52-week high of $212.75.

ADAR1 Capital Management LLC bought a new position in Insmed, Inc. (NASDAQ:INSM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 35,392 shares of the biopharmaceutical company's stock, valued at approximately $5,787,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Insmed by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company's stock worth $3,668,127,000 after purchasing an additional 1,140,524 shares during the period. Darwin Global Management Ltd. raised its position in Insmed by 2.3% during the 4th quarter. Darwin Global Management Ltd. now owns 20,933,277 shares of the biopharmaceutical company's stock valued at $3,644,274,000 after purchasing an additional 475,832 shares during the last quarter. State Street Corp lifted its holdings in Insmed by 30.6% in the 4th quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company's stock worth $905,312,000 after buying an additional 1,217,390 shares during the period. RTW Investments LP lifted its holdings in Insmed by 57.0% in the 4th 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 period. Finally, Geode Capital Management LLC grew its position in shares of Insmed by 14.4% in the 4th quarter. Geode Capital Management LLC now owns 4,299,052 shares of the biopharmaceutical company's stock worth $751,936,000 after buying an additional 539,625 shares during the last quarter.

Insmed Stock Performance

Shares of Insmed stock opened at $104.13 on Wednesday. Insmed, Inc. has a 1 year low of $90.39 and a 1 year high of $212.75. The firm's 50-day moving average is $105.09 and its 200 day moving average is $132.25. The stock has a market cap of $22.57 billion, a price-to-earnings ratio of -18.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts' consensus estimates of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business had revenue of $305.96 million during the quarter, compared to analyst estimates of $300.81 million. During the same period last year, the business earned ($1.42) EPS. Insmed's revenue was up 229.7% compared to the same quarter last year. Sell-side analysts anticipate that Insmed, Inc. will post -2.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on INSM. Royal Bank Of Canada reduced their target price on Insmed from $205.00 to $195.00 and set an "outperform" rating on the stock in a research note on Friday, June 5th. JPMorgan Chase & Co. reduced their price objective on shares of Insmed from $180.00 to $179.00 and set an "overweight" rating on the stock in a research report on Monday, June 8th. Barclays upped their price objective on shares of Insmed from $231.00 to $237.00 and gave the stock an "overweight" rating in a report on Wednesday, April 1st. Truist Financial dropped their price target on Insmed from $205.00 to $185.00 and set a "buy" rating on the stock in a research report on Wednesday, May 13th. Finally, Mizuho set a $192.00 target price on shares of Insmed in a report on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $209.35.

Insider Activity

In related news, CEO William Lewis sold 21,398 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $103.32, for a total value of $2,210,841.36. Following the transaction, the chief executive officer directly owned 258,917 shares of the company's stock, valued at approximately $26,751,304.44. This represents a 7.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 2,370 shares of Insmed stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $242,379.90. Following the completion of the sale, the chief operating officer directly owned 98,603 shares of the company's stock, valued at approximately $10,084,128.81. The trade was a 2.35% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 54,590 shares of company stock valued at $5,793,738 in the last quarter. Insiders own 2.10% 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.

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