Gateway Investment Advisers LLC Purchases New Stake in Insmed, Inc. $INSM

Key Points

• Gateway Investment Advisers bought a new stake in Insmed, acquiring 365,000 shares worth about $63.5 million, equal to roughly 0.17% of the company.
• Insiders have been net sellers recently: COO Roger Adsett sold 88,060 shares (~$14.5M) and insiders sold 174,589 shares totaling about $27.4M in the last 90 days, leaving insiders with 2.10% ownership.
• Analysts remain largely positive with a consensus "Buy" rating and a target price of $213.23, even as Insmed reported a quarterly EPS miss and the stock trades below its 1-year high.

Gateway Investment Advisers LLC acquired a new stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 365,000 shares of the biopharmaceutical company's stock, valued at approximately $63,525,000. Gateway Investment Advisers LLC owned about 0.17% of Insmed at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. EULAV Asset Management bought a new stake in Insmed in the third quarter valued at about $12,961,000. Artisan Partners Limited Partnership lifted its holdings in Insmed by 49.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company's stock worth $711,076,000 after buying an additional 1,623,342 shares during the last quarter. Atika Capital Management LLC bought a new position in Insmed during the 3rd quarter worth approximately $13,681,000. Nisa Investment Advisors LLC grew its position in shares of Insmed by 374.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 10,466 shares of the biopharmaceutical company's stock worth $1,507,000 after acquiring an additional 8,261 shares in the last quarter. Finally, Nordea Investment Management AB bought a new stake in shares of Insmed in the 4th quarter valued at approximately $3,492,000.

Insiders Place Their Bets

In other Insmed news, COO Roger Adsett sold 88,060 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total value of $14,497,317.80. Following the sale, the chief operating officer owned 106,810 shares in the company, valued at approximately $17,584,130.30. This trade represents a 45.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Alexander Smith sold 19,638 shares of Insmed 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 directly owned 51,871 shares in the company, valued at approximately $7,831,483.58. This trade represents a 27.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 174,589 shares of company stock worth $27,441,807. Insiders own 2.10% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on INSM shares. Royal Bank Of Canada upped their price target on Insmed from $212.00 to $216.00 and gave the company an "outperform" rating in a research report on Tuesday, April 14th. Raymond James Financial started coverage on shares of Insmed in a research note on Friday, April 10th. They set an "outperform" rating and a $200.00 target price for the company. Bank of America increased their target price on shares of Insmed from $211.00 to $213.00 and gave the stock a "buy" rating in a report on Tuesday, March 24th. Wells Fargo & Company reduced their price target on shares of Insmed from $208.00 to $175.00 and set an "overweight" rating on the stock in a research report on Monday, March 23rd. Finally, Barclays lifted their price target on shares of Insmed from $231.00 to $237.00 and gave the company an "overweight" rating in a report on Wednesday, April 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $213.23.

Insmed Stock Performance

INSM stock opened at $137.09 on Thursday. Insmed, Inc. has a 1 year low of $63.81 and a 1 year high of $212.75. The stock has a market capitalization of $29.59 billion, a price-to-earnings ratio of -21.39 and a beta of 0.89. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.54 and a current ratio of 3.83. The stock's fifty day moving average is $146.94 and its two-hundred day moving average is $165.89.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.47). The firm had revenue of $263.84 million for the quarter, compared to the consensus estimate of $263.97 million. Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The firm's revenue was up 152.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.32) EPS. On average, research analysts predict that Insmed, Inc. will post -2.41 EPS for the current year.

About Insmed

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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