Advice for reaching analysts/PMs at hedge funds to promote newsletter?

I have a newsletter that discusses M&A and competition in the pharma/biotech industry. I have hundreds of buy-side analysts that are subscribed and regularly open my emails. But growth has slowed down a lot lately. Would cold emailing analysts/PMs in funds with biotech/pharma stocks in their portfolio and offering them a free trial be productive? I don't want to annoy anyone but I do think that my analysis can add value to their research - especially given that it's a relatively niche area. Thanks!

Edit: the newsletter is free but I plan to have a paid tier soon

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