Atomi Financial Group Inc. Grows Holdings in Insmed Incorporated (NASDAQ:INSM)

Atomi Financial Group Inc. grew its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 6.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,774 shares of the biopharmaceutical company’s stock after purchasing an additional 1,526 shares during the quarter. Atomi Financial Group Inc.’s holdings in Insmed were worth $1,710,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in INSM. CIBC Asset Management Inc lifted its holdings in Insmed by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock valued at $324,000 after buying an additional 149 shares in the last quarter. Commerce Bank increased its position in shares of Insmed by 2.4% during the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock worth $499,000 after acquiring an additional 163 shares during the period. GAMMA Investing LLC raised its stake in shares of Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 224 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Insmed in the third quarter valued at approximately $30,000. Finally, Exchange Traded Concepts LLC grew its stake in Insmed by 522.5% in the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 627 shares in the last quarter.

Insider Transactions at Insmed

In related news, CEO William Lewis sold 31,805 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $70.18, for a total value of $2,232,074.90. Following the completion of the transaction, the chief executive officer now owns 379,534 shares in the company, valued at $26,635,696.12. This trade represents a 7.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Martina M.D. Flammer sold 3,344 shares of Insmed stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total value of $220,403.04. Following the sale, the insider now directly owns 102,766 shares of the company’s stock, valued at approximately $6,773,307.06. This represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,740 shares of company stock worth $7,161,294. Insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

INSM has been the subject of a number of research analyst reports. Truist Financial reaffirmed a “buy” rating and set a $105.00 target price (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Bank of America upped their price objective on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of Insmed in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.67.

Insmed Price Performance

NASDAQ INSM opened at $76.75 on Wednesday. The firm’s fifty day simple moving average is $71.19 and its two-hundred day simple moving average is $72.72. The firm has a market capitalization of $13.73 billion, a P/E ratio of -13.83 and a beta of 1.12. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $80.53.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The company had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $93.36 million. During the same quarter last year, the business posted ($1.10) EPS. Insmed’s revenue was up 18.1% compared to the same quarter last year. Analysts forecast that Insmed Incorporated will post -5.44 EPS for the current fiscal 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.