Insmed, Inc. $INSM Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC raised its stake in Insmed, Inc. (NASDAQ:INSM) by 34.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 20,865 shares of the biopharmaceutical company’s stock after buying an additional 5,305 shares during the period. Corient Private Wealth LLC’s holdings in Insmed were worth $3,631,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of INSM. CIBC Private Wealth Group LLC increased its position in Insmed by 42.1% during the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 53 shares during the last quarter. CoreCap Advisors LLC acquired a new position in Insmed in the 4th quarter valued at about $27,000. GraniteShares Advisors LLC purchased a new stake in shares of Insmed in the 4th quarter valued at approximately $30,000. Reflection Asset Management purchased a new stake in shares of Insmed in the 4th quarter valued at approximately $30,000. Finally, Raiffeisen Bank International AG acquired a new stake in shares of Insmed during the 4th quarter worth approximately $32,000.

Insmed Stock Down 1.0%

INSM stock opened at $103.38 on Friday. The company’s 50 day moving average price is $112.90 and its 200 day moving average price is $143.82. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. Insmed, Inc. has a fifty-two week low of $90.39 and a fifty-two week high of $212.75. The firm has a market capitalization of $22.41 billion, a price-to-earnings ratio of -17.98 and a beta of 0.79.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. The company had revenue of $305.96 million during the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.Insmed’s revenue for the quarter was up 229.7% on a year-over-year basis. During the same period in the previous year, the business earned ($1.42) EPS. On average, equities research analysts anticipate that Insmed, Inc. will post -2.55 EPS for the current fiscal year.

Insider Buying and Selling at Insmed

In related news, CFO Sara Bonstein sold 2,404 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $245,857.08. Following the transaction, the chief financial officer owned 69,082 shares in the company, valued at $7,065,016.14. The trade was a 3.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 21,398 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $103.32, for a total transaction of $2,210,841.36. Following the completion of the transaction, the chief executive officer directly owned 258,917 shares in the company, valued at $26,751,304.44. This represents a 7.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 172,987 shares of company stock valued at $25,286,564. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on INSM shares. Morgan Stanley raised Insmed from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $166.00 to $212.00 in a research note on Monday, March 30th. HC Wainwright restated a “buy” rating on shares of Insmed in a report on Friday, May 8th. Raymond James Financial initiated coverage on shares of Insmed in a research report on Friday, April 10th. They issued an “outperform” rating and a $200.00 target price on the stock. Stifel Nicolaus increased their target price on shares of Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Finally, Truist Financial dropped their price target on shares of Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Insmed currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.86.

Insmed Profile

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.