CIBC Asset Management Inc Increases Stock Position in Insmed, Inc. $INSM

CIBC Asset Management Inc raised its holdings in Insmed, Inc. (NASDAQ:INSM) by 914.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 48,463 shares of the biopharmaceutical company’s stock after purchasing an additional 43,686 shares during the quarter. CIBC Asset Management Inc’s holdings in Insmed were worth $8,435,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC boosted its holdings in Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 53 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in Insmed by 2.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 2,321 shares of the biopharmaceutical company’s stock valued at $334,000 after purchasing an additional 60 shares in the last quarter. Choreo LLC boosted its holdings in Insmed by 2.9% in the 3rd quarter. Choreo LLC now owns 2,319 shares of the biopharmaceutical company’s stock valued at $334,000 after purchasing an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Insmed by 10.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 747 shares of the biopharmaceutical company’s stock worth $130,000 after acquiring an additional 69 shares in the last quarter. Finally, ORG Partners LLC boosted its stake in shares of Insmed by 12.7% during the 4th quarter. ORG Partners LLC now owns 657 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 74 shares in the last quarter.

Insmed Stock Performance

NASDAQ:INSM opened at $94.22 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The firm has a 50-day moving average of $130.45 and a two-hundred day moving average of $154.95. The stock has a market cap of $20.42 billion, a P/E ratio of -16.39 and a beta of 0.79. Insmed, Inc. has a 1-year low of $70.57 and a 1-year high of $212.75.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. The company had revenue of $305.96 million during the quarter, compared to analysts’ expectations of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm’s revenue for the quarter was up 229.7% on a year-over-year basis. During the same period in the prior year, the company posted ($1.42) EPS. On average, research analysts expect that Insmed, Inc. will post -2.56 earnings per share for the current fiscal year.

Insider Activity

In other Insmed news, CEO William Lewis sold 10,699 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $143.97, for a total value of $1,540,335.03. Following the completion of the transaction, the chief executive officer directly owned 301,185 shares of the company’s stock, valued at $43,361,604.45. This represents a 3.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Alexander Smith sold 19,638 shares of the company’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $150.98, for a total transaction of $2,964,945.24. Following the completion of the transaction, the insider directly owned 51,871 shares of the company’s stock, valued at approximately $7,831,483.58. The trade was a 27.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 160,482 shares of company stock valued at $24,438,193. Corporate insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Roth Mkm reaffirmed a “buy” rating and issued a $212.00 price objective on shares of Insmed in a research note on Friday, April 17th. Jefferies Financial Group began coverage on Insmed in a report on Monday, March 16th. They issued a “buy” rating and a $228.00 target price on the stock. Truist Financial lowered their target price on Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Stifel Nicolaus upped their target price on Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Finally, Bank of America upped their target price on Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.50.

About Insmed

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.