Atlatl Advisers LLC Invests $2.25 Million in Insmed, Inc. $INSM

Key Points

• Atlatl Advisers LLC opened a new position in Insmed, buying 12,927 shares worth about $2.25 million in the fourth quarter.
• Institutional interest in Insmed remains active, with several hedge funds and asset managers increasing stakes or taking new positions in the biopharmaceutical company.
• Insmed reported better-than-expected quarterly results, including a smaller-than-expected loss and revenue of $305.96 million, while analysts keep a Moderate Buy consensus and a $210.95 price target.

Atlatl Advisers LLC purchased a new position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 12,927 shares of the biopharmaceutical company's stock, valued at approximately $2,250,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INSM. EverSource Wealth Advisors LLC raised its stake in shares of Insmed by 65.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company's stock worth $67,000 after purchasing an additional 263 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Insmed by 80.8% in the 2nd quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company's stock valued at $4,770,000 after acquiring an additional 21,176 shares in the last quarter. Baird Financial Group Inc. bought a new position in shares of Insmed in the 2nd quarter valued at approximately $2,589,000. Amundi raised its stake in shares of Insmed by 21,194.4% in the 2nd quarter. Amundi now owns 11,499 shares of the biopharmaceutical company's stock valued at $1,130,000 after acquiring an additional 11,445 shares in the last quarter. Finally, Natixis bought a new position in shares of Insmed in the 2nd quarter valued at approximately $1,072,000.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $106.24 on Tuesday. Insmed, Inc. has a 1-year low of $65.56 and a 1-year high of $212.75. The firm has a market capitalization of $23.03 billion, a PE ratio of -18.48 and a beta of 0.89. The business's 50 day moving average is $137.23 and its 200-day moving average is $160.15. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The company had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same quarter last year, the firm earned ($1.42) EPS. Insmed's revenue for the quarter was up 229.7% compared to the same quarter last year. Sell-side analysts predict that Insmed, Inc. will post -2.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on INSM. HC Wainwright reissued a "buy" rating on shares of Insmed in a research note on Friday, May 8th. Mizuho raised their price objective on Insmed from $204.00 to $206.00 and gave the company an "outperform" rating in a research note on Wednesday, March 25th. Truist Financial cut their price objective on Insmed from $205.00 to $185.00 and set a "buy" rating on the stock in a research note on Wednesday, May 13th. Bank of America raised their price objective on Insmed from $211.00 to $213.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Insmed in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Insmed has a consensus rating of "Moderate Buy" and a consensus price target of $210.95.

Insider Transactions at Insmed

In other news, COO Roger Adsett sold 88,060 shares of Insmed stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $164.63, for a total transaction of $14,497,317.80. Following the sale, the chief operating officer owned 106,810 shares of the company's stock, valued at approximately $17,584,130.30. This trade represents a 45.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Alexander Smith sold 6,149 shares of Insmed stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $108.47, for a total value of $666,982.03. Following the sale, the insider directly owned 41,613 shares in the company, valued at $4,513,762.11. The trade was a 12.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 156,643 shares of company stock valued at $24,513,766. 2.10% of the stock is owned by corporate insiders.

Insmed 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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