Atle Fund Management AB Invests $4.85 Million in Insmed, Inc. $INSM

Atle Fund Management AB acquired a new position in shares of Insmed, Inc. (NASDAQ:INSM) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 27,873 shares of the biopharmaceutical company’s stock, valued at approximately $4,851,000. Insmed comprises approximately 1.5% of Atle Fund Management AB’s portfolio, making the stock its 25th biggest holding.

Several other large investors have also modified their holdings of INSM. CIBC Private Wealth Group LLC boosted its position in shares of Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 53 shares during the period. CoreCap Advisors LLC acquired a new stake in shares of Insmed in the fourth quarter worth $27,000. SBI Securities Co. Ltd. boosted its position in shares of Insmed by 404.9% in the third quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 166 shares during the period. GraniteShares Advisors LLC acquired a new stake in shares of Insmed in the fourth quarter worth $30,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Insmed by 169.7% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 151 shares during the period.

Analysts Set New Price Targets

Several brokerages recently issued reports on INSM. Roth Mkm reiterated a “buy” rating and set a $212.00 price objective on shares of Insmed in a report on Friday, April 17th. Mizuho increased their price objective on Insmed from $204.00 to $206.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Jefferies Financial Group started coverage on Insmed in a report on Monday, March 16th. They set a “buy” rating and a $228.00 price objective for the company. Bank of America boosted their price target on Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Finally, Raymond James Financial started coverage on Insmed in a research report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price target for the company. One research analyst has 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. According to data from MarketBeat.com, Insmed has a consensus rating of “Moderate Buy” and an average price target of $210.95.

Insider Activity at Insmed

In related news, COO Roger Adsett sold 88,060 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $164.63, for a total transaction of $14,497,317.80. Following the transaction, the chief operating officer directly owned 106,810 shares in the company, valued at $17,584,130.30. The trade was a 45.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Alexander Smith sold 19,638 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 51,871 shares in the company, valued at $7,831,483.58. This represents a 27.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 161,193 shares of company stock worth $25,462,012 over the last three months. Company insiders own 2.10% of the company’s stock.

Insmed Trading Up 0.2%

Insmed stock opened at $107.41 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. The business’s 50-day simple moving average is $139.95 and its 200-day simple moving average is $162.42. The firm has a market capitalization of $23.28 billion, a PE ratio of -18.68 and a beta of 0.89. Insmed, Inc. has a 52 week low of $64.85 and a 52 week high of $212.75.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. The business had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The firm’s revenue for the quarter was up 229.7% on a year-over-year basis. During the same period in the previous year, the company posted ($1.42) earnings per share. Equities research analysts forecast that Insmed, Inc. will post -2.52 earnings per share for the current year.

Insmed 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.