iA Global Asset Management Inc. Acquires 8,295 Shares of Insmed, Inc. $INSM

iA Global Asset Management Inc. lifted its holdings in shares of Insmed, Inc. (NASDAQ:INSM) by 31.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 34,977 shares of the biopharmaceutical company’s stock after acquiring an additional 8,295 shares during the quarter. iA Global Asset Management Inc.’s holdings in Insmed were worth $5,719,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. CIBC Private Wealth Group LLC grew its stake 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 buying an additional 53 shares in the last quarter. CoreCap Advisors LLC purchased a new stake in shares of Insmed during the fourth quarter worth $27,000. GraniteShares Advisors LLC bought a new position in shares of Insmed in the fourth quarter worth $30,000. Reflection Asset Management bought a new position in shares of Insmed in the fourth quarter worth $30,000. Finally, Raiffeisen Bank International AG purchased a new position in shares of Insmed in the fourth quarter valued at $32,000.

Insider Activity at Insmed

In other news, insider Michael Alexander Smith sold 6,149 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $108.47, for a total value of $666,982.03. Following the transaction, the insider owned 41,613 shares of the company’s stock, valued at $4,513,762.11. This represents a 12.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Lewis sold 21,398 shares of the firm’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 sale, the chief executive officer owned 258,917 shares in the company, valued at approximately $26,751,304.44. This trade represents a 7.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 65,289 shares of company stock worth $7,824,301 in the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Insmed Stock Performance

NASDAQ:INSM opened at $107.00 on Thursday. The stock has a market cap of $23.19 billion, a P/E ratio of -18.61 and a beta of 0.78. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The business’s 50-day moving average price is $110.66 and its two-hundred day moving average price is $141.61. Insmed, Inc. has a twelve month low of $90.39 and a twelve month high of $212.75.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.14. The company had revenue of $305.96 million during the quarter, compared to analyst estimates 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 was up 229.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.42) earnings per share. As a group, equities analysts predict that Insmed, Inc. will post -2.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on INSM. Raymond James Financial initiated coverage on Insmed in a research note on Friday, April 10th. They set an “outperform” rating and a $200.00 price objective on the stock. Truist Financial decreased their price target on Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Roth Mkm reissued a “buy” rating on shares of Insmed in a report on Monday, June 8th. Bank of America raised their price objective on shares of Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Finally, Wells Fargo & Company reduced their price objective on shares of Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and an average price target 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.