MYDA Advisors LLC Takes Position in Insmed, Inc. $INSM

Key Points

• MYDA Advisors LLC has acquired 8,000 shares of Insmed, Inc. for approximately $610,000, according to its 1st quarter filing with the SEC.
• Several institutional investors, including M&T Bank Corp and Cullen Frost Bankers Inc., have recently modified their holdings of Insmed, indicating heightened interest in the stock.
• Analysts have set a consensus price target of $132.57 for Insmed, with 16 analysts rating it a "Buy," and recent updates showing price target increases from multiple institutions.

MYDA Advisors LLC purchased a new position in Insmed, Inc. (NASDAQ:INSM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,000 shares of the biopharmaceutical company's stock, valued at approximately $610,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Ieq Capital LLC acquired a new stake in Insmed in the 1st quarter worth about $244,000. Affinity Asset Advisors LLC boosted its stake in Insmed by 180.0% in the 1st quarter. Affinity Asset Advisors LLC now owns 140,000 shares of the biopharmaceutical company's stock worth $10,681,000 after buying an additional 90,000 shares during the last quarter. Comerica Bank lifted its stake in shares of Insmed by 70.0% in the 1st quarter. Comerica Bank now owns 290,275 shares of the biopharmaceutical company's stock valued at $22,145,000 after purchasing an additional 119,495 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Insmed in the 1st quarter valued at about $37,214,000. Finally, Compound Planning Inc. lifted its stake in shares of Insmed by 2.6% in the 1st quarter. Compound Planning Inc. now owns 25,426 shares of the biopharmaceutical company's stock valued at $1,940,000 after purchasing an additional 652 shares in the last quarter.

Insider Buying and Selling at Insmed

In other Insmed news, CFO Sara Bonstein sold 58,400 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $102.67, for a total value of $5,995,928.00. Following the transaction, the chief financial officer directly owned 73,505 shares of the company's stock, valued at $7,546,758.35. This represents a 44.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Roger Adsett sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $127.58, for a total value of $3,189,500.00. Following the completion of the transaction, the chief operating officer directly owned 105,637 shares in the company, valued at approximately $13,477,168.46. The trade was a 19.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 515,927 shares of company stock worth $51,447,211. Insiders own 3.00% of the company's stock.

Analysts Set New Price Targets

INSM has been the topic of several research analyst reports. Morgan Stanley lifted their price objective on Insmed from $126.00 to $144.00 and gave the company an "equal weight" rating in a research note on Thursday, August 21st. JPMorgan Chase & Co. lifted their price objective on Insmed from $111.00 to $135.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. Truist Financial lifted their price objective on Insmed from $126.00 to $139.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. Wells Fargo & Company lifted their price objective on Insmed from $130.00 to $140.00 and gave the company an "overweight" rating in a research note on Tuesday, August 12th. Finally, William Blair initiated coverage on Insmed in a research note on Wednesday, August 20th. They issued an "outperform" rating on the stock. Sixteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $132.57.

Insmed Stock Up 5.7%

Shares of NASDAQ:INSM traded up $7.82 during mid-day trading on Tuesday, hitting $143.92. 2,678,798 shares of the company traded hands, compared to its average volume of 2,797,824. The firm has a market cap of $30.42 billion, a P/E ratio of -25.20 and a beta of 0.96. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.33 and a current ratio of 6.68. Insmed, Inc. has a 52-week low of $60.40 and a 52-week high of $146.18. The firm's 50 day simple moving average is $111.35 and its 200 day simple moving average is $88.01.

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

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.