Longboard Asset Management LP Invests $205,000 in Insmed, Inc. $INSM

Key Points

• Longboard Asset Management LP has purchased 2,041 shares of Insmed, Inc., valued at approximately $205,000, marking a new investment during the second quarter.
• Insmed's recent earnings report showed a loss of ($1.70) earnings per share, missing expectations, though revenue grew by 18.9% year-over-year to $107.42 million.
• Multiple brokerages have raised their target prices for Insmed, with Wells Fargo setting a new target of $171.00 and maintaining an "overweight" rating on the stock.

Longboard Asset Management LP bought a new stake in Insmed, Inc. (NASDAQ:INSM - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,041 shares of the biopharmaceutical company's stock, valued at approximately $205,000.

A number of other institutional investors also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky acquired a new position in Insmed during the first quarter worth approximately $975,000. OneDigital Investment Advisors LLC lifted its position in Insmed by 47.1% in the 1st quarter. OneDigital Investment Advisors LLC now owns 5,226 shares of the biopharmaceutical company's stock valued at $399,000 after acquiring an additional 1,673 shares in the last quarter. Sowell Financial Services LLC purchased a new position in Insmed in the first quarter valued at approximately $255,000. Caxton Associates LLP purchased a new position in Insmed in the 1st quarter valued at approximately $441,000. Finally, GAMMA Investing LLC grew its position in shares of Insmed by 62.0% during the 1st quarter. GAMMA Investing LLC now owns 1,009 shares of the biopharmaceutical company's stock valued at $77,000 after purchasing an additional 386 shares in the last quarter.

Insider Activity

In related news, COO Roger Adsett sold 25,000 shares of Insmed stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $127.58, for a total value of $3,189,500.00. Following the sale, the chief operating officer owned 105,637 shares of the company's stock, valued at approximately $13,477,168.46. This trade represents a 19.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Lewis sold 6,865 shares of Insmed stock in a transaction on Monday, August 18th. The shares were sold at an average price of $128.40, for a total value of $881,466.00. Following the completion of the transaction, the chief executive officer directly owned 233,924 shares of the company's stock, valued at $30,035,841.60. This represents a 2.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 335,097 shares of company stock valued at $39,721,648. Insiders own 3.00% of the company's stock.

Insmed Stock Performance

INSM stock traded down $1.10 on Friday, hitting $144.76. The company's stock had a trading volume of 5,624,066 shares, compared to its average volume of 1,971,056. The stock has a market cap of $30.60 billion, a price-to-earnings ratio of -25.35 and a beta of 0.97. The company has a current ratio of 6.68, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45. Insmed, Inc. has a 1 year low of $60.40 and a 1 year high of $149.08. The firm has a 50 day moving average of $124.17 and a two-hundred day moving average of $94.19.

Insmed (NASDAQ:INSM - Get Free Report) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.30) by ($0.40). The company had revenue of $107.42 million during the quarter, compared to analyst estimates of $104.06 million. Insmed had a negative return on equity of 195.37% and a negative net margin of 259.82%.Insmed's revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the business posted ($1.94) earnings per share. Insmed has set its FY 2025 guidance at EPS. Equities analysts predict that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on INSM shares. Jefferies Financial Group upped their price objective on shares of Insmed from $129.00 to $148.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Truist Financial lifted their price objective on shares of Insmed from $126.00 to $139.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. boosted their price objective on shares of Insmed from $111.00 to $135.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. UBS Group upped their price target on shares of Insmed from $124.00 to $133.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Guggenheim upped their price target on shares of Insmed from $125.00 to $172.00 and gave the company a "buy" rating in a research note on Monday, September 8th. Sixteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $139.86.

About Insmed

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.