Atria Wealth Solutions Inc. Purchases New Shares in Insmed, Inc. $INSM

Key Points

• Atria Wealth Solutions Inc. has invested approximately $423,000 in Insmed, Inc., acquiring 5,543 shares of the biopharmaceutical company's stock.
• Insider transactions include significant share sales by CEO William Lewis and other executives, resulting in a combined decrease in their ownership of over 500,000 shares.
• Insmed's stock has received several upgraded ratings from brokerages, with price targets reaching as high as $139.00, reflecting positive investor sentiment.

Atria Wealth Solutions Inc. purchased a new position in Insmed, Inc. (NASDAQ:INSM - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,543 shares of the biopharmaceutical company's stock, valued at approximately $423,000.

Other large investors also recently made changes to their positions in the company. Cullen Frost Bankers Inc. grew its position in shares of Insmed by 164.9% in the first quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 221 shares during the last quarter. Elequin Capital LP bought a new stake in Insmed during the 4th quarter valued at approximately $28,000. NBC Securities Inc. bought a new stake in Insmed during the 1st quarter valued at approximately $49,000. Versant Capital Management Inc increased its position in Insmed by 546.3% in the 1st quarter. Versant Capital Management Inc now owns 698 shares of the biopharmaceutical company's stock worth $53,000 after buying an additional 590 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of Insmed by 60.0% during the first quarter. Signaturefd LLC now owns 867 shares of the biopharmaceutical company's stock worth $66,000 after buying an additional 325 shares during the last quarter.

Insmed Price Performance

Shares of Insmed stock traded up $0.09 during midday trading on Tuesday, hitting $127.36. 303,999 shares of the company were exchanged, compared to its average volume of 2,821,884. The firm has a 50 day simple moving average of $104.75 and a 200-day simple moving average of $84.33. The company has a debt-to-equity ratio of 0.45, a current ratio of 6.68 and a quick ratio of 6.33. The firm has a market cap of $26.92 billion, a P/E ratio of -22.34 and a beta of 0.95. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $130.13.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.30) by ($0.40). Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The company had revenue of $107.42 million for the quarter, compared to the consensus estimate of $104.06 million. During the same period in the previous year, the business posted ($1.94) earnings per share. The firm's revenue was up 18.9% compared to the same quarter last year. Research analysts forecast that Insmed, Inc. will post -4.56 earnings per share for the current year.

Insider Activity

In other news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $93.42, for a total transaction of $9,264,648.24. Following the completion of the sale, the insider owned 89,407 shares of the company's stock, valued at approximately $8,352,401.94. This trade represents a 52.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William Lewis sold 6,830 shares of Insmed stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $102.37, for a total transaction of $699,187.10. Following the completion of the transaction, the chief executive officer owned 233,924 shares of the company's stock, valued at $23,946,799.88. This trade represents a 2.84% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 497,829 shares of company stock worth $47,778,638. Company insiders own 3.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on INSM. Citigroup raised Insmed to a "buy" rating in a research report on Tuesday, June 10th. Stifel Nicolaus boosted their price objective on shares of Insmed from $121.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Morgan Stanley reaffirmed an "equal weight" rating and set a $126.00 price objective on shares of Insmed in a research report on Wednesday, August 13th. The Goldman Sachs Group lifted their target price on Insmed from $114.00 to $142.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $120.00 price target (up from $108.00) on shares of Insmed in a research note on Friday, August 8th. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $129.57.

Insmed Profile

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.