Atika Capital Management LLC Makes New Investment in Insmed, Inc. $INSM

Atika Capital Management LLC acquired a new position in shares of Insmed, Inc. (NASDAQ:INSM) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 95,000 shares of the biopharmaceutical company’s stock, valued at approximately $13,681,000.

Several other institutional investors and hedge funds also recently made changes to their positions in INSM. EULAV Asset Management bought a new stake in Insmed in the 3rd quarter valued at about $12,961,000. Resolute Capital Asset Partners LLC bought a new position in shares of Insmed during the second quarter worth approximately $2,748,000. Nisa Investment Advisors LLC raised its position in shares of Insmed by 374.6% in the third quarter. Nisa Investment Advisors LLC now owns 10,466 shares of the biopharmaceutical company’s stock valued at $1,507,000 after buying an additional 8,261 shares in the last quarter. Keybank National Association OH raised its position in shares of Insmed by 76.7% in the third quarter. Keybank National Association OH now owns 16,716 shares of the biopharmaceutical company’s stock valued at $2,407,000 after buying an additional 7,257 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in shares of Insmed by 49.0% in the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock valued at $711,076,000 after buying an additional 1,623,342 shares during the period.

Insider Activity at Insmed

In related news, CFO Sara Bonstein sold 748 shares of Insmed stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $156.34, for a total transaction of $116,942.32. Following the sale, the chief financial officer directly owned 79,758 shares of the company’s stock, valued at approximately $12,469,365.72. The trade was a 0.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William Lewis sold 10,699 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $146.03, for a total transaction of $1,562,374.97. Following the sale, the chief executive officer directly owned 301,185 shares in the company, valued at approximately $43,982,045.55. The trade was a 3.43% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 189,651 shares of company stock valued at $31,784,545. 3.00% of the stock is currently owned by company insiders.

Insmed Price Performance

Shares of INSM stock opened at $139.40 on Thursday. The business has a fifty day simple moving average of $156.62 and a 200 day simple moving average of $165.81. The company has a market cap of $30.05 billion, a P/E ratio of -21.75 and a beta of 1.13. The company has a quick ratio of 3.54, a current ratio of 3.83 and a debt-to-equity ratio of 0.76. Insmed, Inc. has a twelve month low of $60.40 and a twelve month high of $212.75.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.47). The business had revenue of $263.84 million during the quarter, compared to the consensus estimate of $263.97 million. Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The business’s revenue was up 152.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.32) EPS. On average, sell-side analysts forecast that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on INSM shares. Citigroup reissued an “outperform” rating on shares of Insmed in a research report on Thursday, December 18th. Truist Financial set a $205.00 target price on Insmed in a research report on Monday, January 12th. Morgan Stanley set a $166.00 target price on Insmed in a report on Friday, February 20th. Wolfe Research set a $167.00 price target on Insmed and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Finally, Guggenheim dropped their price target on Insmed from $230.00 to $221.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $207.52.

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.