Atle Fund Management AB Makes New Investment in Insmed, Inc. $INSM

Key Points

• Atle Fund Management AB opened a new position in Insmed during the fourth quarter, buying 27,873 shares valued at about $4.85 million. The stake represents roughly 1.5% of the fund’s portfolio.
• Insmed’s latest quarterly results beat expectations, with EPS of -$0.76 versus the consensus of -$0.90 and revenue of $305.96 million, up 229.7% year over year. Analysts still expect the company to post a loss for the full fiscal year.
• Wall Street remains broadly positive on the stock, with a consensus rating of Moderate Buy and an average price target of $210.95. However, insiders have been selling shares recently, including large sales by the COO and another executive.

Atle Fund Management AB bought a new position in Insmed, Inc. (NASDAQ:INSM - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 27,873 shares of the biopharmaceutical company's stock, valued at approximately $4,851,000. Insmed comprises approximately 1.5% of Atle Fund Management AB's portfolio, making the stock its 25th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC grew its holdings 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 during the period. First Trust Advisors LP boosted its holdings in Insmed by 80.8% during 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 during the period. Baird Financial Group Inc. purchased a new position in Insmed during the 2nd quarter valued at about $2,589,000. Amundi raised its position in 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 purchasing an additional 11,445 shares in the last quarter. Finally, Natixis acquired a new stake in Insmed in the 2nd quarter valued at about $1,072,000.

Analysts Set New Price Targets

A number of research firms have issued reports on INSM. Wells Fargo & Company reduced their price target on Insmed from $177.00 to $160.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. Bank of America lifted their price target on Insmed from $211.00 to $213.00 and gave the stock a "buy" rating in a research report on Tuesday, March 24th. Leerink Partners lifted their price target on Insmed from $210.00 to $215.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 24th. Guggenheim lowered their target price on Insmed from $230.00 to $226.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Finally, Roth Mkm restated a "buy" rating and issued a $212.00 price target on shares of Insmed in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Insmed currently has an average rating of "Moderate Buy" and a consensus target price of $210.95.

Insmed Stock Up 0.2%

INSM opened at $107.41 on Wednesday. Insmed, Inc. has a one year low of $64.85 and a one year high of $212.75. The company has a market cap of $23.28 billion, a price-to-earnings ratio of -18.68 and a beta of 0.89. The business's fifty day moving average is $139.95 and its two-hundred day moving average is $162.42. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $300.81 million. During the same period in the previous year, the firm posted ($1.42) earnings per share. The business's revenue for the quarter was up 229.7% compared to the same quarter last year. Analysts anticipate that Insmed, Inc. will post -2.52 EPS for the current fiscal year.

Insider Activity at Insmed

In other Insmed news, COO Roger Adsett sold 88,060 shares of the company's 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 in the company, valued at $17,584,130.30. This represents a 45.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael Alexander Smith sold 19,638 shares of the company's stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $150.98, for a total value of $2,964,945.24. Following the sale, the insider owned 51,871 shares in the company, valued at $7,831,483.58. The trade was a 27.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 161,193 shares of company stock valued at $25,462,012. Insiders own 2.10% of the company's stock.

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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