Atria Wealth Solutions Inc. Makes New Investment in Insmed, Inc. (NASDAQ:INSM)

Atria Wealth Solutions Inc. acquired a new position in shares of Insmed, Inc. (NASDAQ:INSM) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 5,543 shares of the biopharmaceutical company’s stock, valued at approximately $423,000.

Other hedge funds also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky acquired a new stake in Insmed during the 1st quarter worth approximately $975,000. OneDigital Investment Advisors LLC lifted its position in Insmed by 47.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 5,226 shares of the biopharmaceutical company’s stock worth $399,000 after acquiring an additional 1,673 shares during the period. Sowell Financial Services LLC acquired a new stake in Insmed during the 1st quarter worth approximately $255,000. GAMMA Investing LLC lifted its position in Insmed by 62.0% during the 1st quarter. GAMMA Investing LLC now owns 1,009 shares of the biopharmaceutical company’s stock worth $77,000 after acquiring an additional 386 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Insmed by 16.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,772 shares of the biopharmaceutical company’s stock worth $288,000 after acquiring an additional 541 shares during the period.

Insider Buying and Selling

In other news, CFO Sara Bonstein sold 58,400 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer owned 73,505 shares of the company’s stock, valued at $7,546,758.35. This represents a 44.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the company’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total value of $9,264,648.24. Following the completion of the sale, the insider directly owned 89,407 shares of the company’s stock, valued at $8,352,401.94. The trade was a 52.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 525,716 shares of company stock worth $49,665,671 over the last three months. 3.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Mizuho increased their price objective on Insmed from $130.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday. Leerink Partners raised their price target on Insmed from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, June 10th. Wells Fargo & Company set a $140.00 price target on Insmed and gave the company an “overweight” rating in a report on Tuesday. Royal Bank Of Canada reissued an “outperform” rating and issued a $120.00 price target (up from $108.00) on shares of Insmed in a report on Friday, August 8th. Finally, Jefferies Financial Group raised their price target on Insmed from $129.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.57.

Insmed Price Performance

INSM stock opened at $127.75 on Friday. The stock has a 50-day moving average price of $102.53 and a two-hundred day moving average price of $83.54. Insmed, Inc. has a 12-month low of $60.40 and a 12-month high of $128.48. The company has a current ratio of 6.68, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45. The company has a market cap of $27.00 billion, a PE ratio of -22.37 and a beta of 0.95.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.30) by ($0.40). Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The firm had revenue of $107.42 million for the quarter, compared to analysts’ expectations of $104.06 million. During the same period last year, the firm posted ($1.94) EPS. Insmed’s revenue was up 18.9% on a year-over-year basis. As a group, research analysts predict that Insmed, Inc. will post -4.56 EPS for the current year.

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.