Insmed, Inc. $INSM Shares Bought by Empowered Funds LLC

Key Points

• Empowered Funds increased its Insmed stake by 32.6% in the first quarter, reaching 51,986 shares valued at approximately $8.5 million. Several other institutional investors also expanded their positions.
• Analyst sentiment remains largely positive: Insmed has an overall “Buy” rating, with an average price target of $205.52, despite one sell rating from Weiss Ratings.
• Insmed reported quarterly revenue of $425.49 million, up 296.1% year over year and above estimates, while posting a smaller-than-expected loss of $0.06 per share. Insiders sold 294,440 shares worth roughly $37.8 million during the quarter.

Empowered Funds LLC grew its holdings in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 32.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,986 shares of the biopharmaceutical company's stock after purchasing an additional 12,775 shares during the period. Empowered Funds LLC's holdings in Insmed were worth $8,501,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Defilade Capital Management L.P. boosted its holdings in Insmed by 289.8% during the first quarter. Defilade Capital Management L.P. now owns 194,909 shares of the biopharmaceutical company's stock worth $31,872,000 after buying an additional 144,909 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Insmed by 13.1% during the 1st quarter. Parallel Advisors LLC now owns 2,291 shares of the biopharmaceutical company's stock valued at $375,000 after acquiring an additional 266 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Insmed by 133.0% during the 1st quarter. NewEdge Advisors LLC now owns 6,015 shares of the biopharmaceutical company's stock worth $984,000 after acquiring an additional 3,433 shares in the last quarter. NWI Management LP boosted its stake in shares of Insmed by 2.6% during the 1st quarter. NWI Management LP now owns 1,014,000 shares of the biopharmaceutical company's stock worth $165,809,000 after acquiring an additional 25,540 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its holdings in shares of Insmed by 5.4% in the 1st quarter. Glenmede Trust Co. NA now owns 1,916 shares of the biopharmaceutical company's stock worth $313,000 after acquiring an additional 98 shares during the last quarter.

Insider Activity at Insmed

In related news, CFO Sara Bonstein sold 2,404 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 transaction of $245,857.08. Following the completion of the sale, the chief financial officer owned 69,082 shares of the company's stock, valued at approximately $7,065,016.14. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Alexander Smith sold 6,149 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $108.47, for a total value of $666,982.03. Following the completion of the transaction, the insider owned 41,613 shares in the company, valued at $4,513,762.11. This trade represents a 12.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 294,440 shares of company stock valued at $37,758,548. Insiders own 2.10% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on INSM. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Insmed in a report on Friday, July 17th. UBS Group reissued a "buy" rating and issued a $172.00 price target on shares of Insmed in a research note on Friday, August 7th. Truist Financial restated a "buy" rating and set a $195.00 price objective (up from $185.00) on shares of Insmed in a report on Monday. Wells Fargo & Company upped their price objective on shares of Insmed from $161.00 to $169.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Finally, Evercore reiterated an "outperform" rating and issued a $170.00 target price on shares of Insmed in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $205.52.

Insmed Stock Performance

INSM stock opened at $123.74 on Friday. The firm has a 50 day simple moving average of $107.88 and a 200 day simple moving average of $128.20. Insmed, Inc. has a 52 week low of $90.39 and a 52 week high of $212.75. The stock has a market cap of $27.02 billion, a P/E ratio of -30.11 and a beta of 0.81. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.40 and a current ratio of 3.72.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.61. Insmed had a negative net margin of 76.94% and a negative return on equity of 123.94%. The firm had revenue of $425.49 million for the quarter, compared to analyst estimates of $395.50 million. During the same quarter in the prior year, the business earned ($1.70) EPS. The company's revenue for the quarter was up 296.1% compared to the same quarter last year. Research analysts anticipate that Insmed, Inc. will post -1.83 earnings per share for the current fiscal year.

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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