Cibc World Markets Corp Invests $1.11 Million in Insmed Incorporated (NASDAQ:INSM)

Cibc World Markets Corp bought a new stake in Insmed Incorporated (NASDAQ:INSM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,135 shares of the biopharmaceutical company’s stock, valued at approximately $1,114,000.

Other institutional investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its position in shares of Insmed by 65.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 163 shares during the period. V Square Quantitative Management LLC raised its stake in Insmed by 60.3% during the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 248 shares during the last quarter. Spire Wealth Management acquired a new position in Insmed in the fourth quarter valued at $47,000. Smartleaf Asset Management LLC boosted its position in Insmed by 98.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 411 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in Insmed during the 4th quarter worth about $86,000.

Analyst Ratings Changes

A number of research analysts have recently issued reports on INSM shares. Stifel Nicolaus dropped their price objective on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Insmed in a research report on Friday, February 21st. UBS Group lifted their price objective on shares of Insmed from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Guggenheim reissued a “buy” rating and set a $101.00 target price on shares of Insmed in a research note on Tuesday, February 25th. Finally, Truist Financial lifted their price target on shares of Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Insmed presently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

Insmed Stock Up 1.5 %

INSM stock opened at $79.92 on Friday. The stock’s 50 day moving average is $77.43 and its 200-day moving average is $73.80. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $84.91. The firm has a market capitalization of $14.47 billion, a PE ratio of -14.30 and a beta of 1.28. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

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

Insiders Place Their Bets

In other news, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $77.03, for a total transaction of $1,444,312.50. Following the completion of the sale, the chief executive officer now directly owns 334,186 shares of the company’s stock, valued at $25,742,347.58. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sara Bonstein sold 1,066 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was 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 directly owns 118,863 shares in the company, valued at $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. In the last ninety days, insiders sold 550,957 shares of company stock valued at $42,992,528. Corporate insiders own 4.60% of the company’s stock.

Insmed Company 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.