Cibc World Markets Corp Purchases New Stake in Insmed Incorporated (NASDAQ:INSM)

Cibc World Markets Corp acquired a new position in shares of Insmed Incorporated (NASDAQ:INSM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,135 shares of the biopharmaceutical company’s stock, valued at approximately $1,114,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in Insmed by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock valued at $278,432,000 after buying an additional 172,664 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Insmed by 12.9% in the third quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock valued at $136,648,000 after purchasing an additional 214,130 shares during the last quarter. Vestal Point Capital LP increased its stake in shares of Insmed by 113.3% during the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after purchasing an additional 850,000 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Insmed by 7.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,546,607 shares of the biopharmaceutical company’s stock worth $106,778,000 after purchasing an additional 102,341 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Insmed by 2.6% in the 3rd quarter. Wellington Management Group LLP now owns 962,459 shares of the biopharmaceutical company’s stock valued at $70,260,000 after purchasing an additional 24,025 shares during the period.

Insmed Stock Up 1.5 %

Shares of NASDAQ INSM opened at $79.92 on Friday. The company has a market cap of $14.47 billion, a price-to-earnings ratio of -14.30 and a beta of 1.28. 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 $84.91. The stock has a 50-day moving average price of $77.43 and a two-hundred day moving average price of $73.80.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.15). The company had revenue of $104.44 million during the quarter, compared to the consensus estimate of $102.31 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. As a group, analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Martina M.D. Flammer sold 3,344 shares of Insmed stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total transaction of $220,403.04. Following the sale, the insider now directly owns 102,766 shares in the company, valued at $6,773,307.06. This trade represents a 3.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sara Bonstein sold 1,066 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.72, for a total transaction of $67,925.52. Following the completion of the transaction, the chief financial officer now owns 118,863 shares of the company’s stock, valued at approximately $7,573,950.36. This trade represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 550,957 shares of company stock worth $42,992,528 in the last 90 days. Insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on INSM. Bank of America increased their price objective on Insmed from $92.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday. Truist Financial lifted their price objective on shares of Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. increased their target price on shares of Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. HC Wainwright reiterated a “buy” rating and issued a $90.00 price target on shares of Insmed in a research report on Friday, February 21st. Finally, UBS Group increased their price target on Insmed from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

Insmed Profile

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.