Corient Private Wealth LLC Has $1.02 Million Stake in Insmed Incorporated (NASDAQ:INSM)

Corient Private Wealth LLC raised its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 34.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,730 shares of the biopharmaceutical company’s stock after buying an additional 3,747 shares during the quarter. Corient Private Wealth LLC’s holdings in Insmed were worth $1,017,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of INSM. Commerce Bank grew its holdings in Insmed by 2.4% during the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock valued at $499,000 after purchasing an additional 163 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Insmed by 10.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,444,266 shares of the biopharmaceutical company’s stock valued at $105,431,000 after buying an additional 137,670 shares during the period. Cerity Partners LLC increased its position in shares of Insmed by 513.6% in the 3rd quarter. Cerity Partners LLC now owns 21,348 shares of the biopharmaceutical company’s stock valued at $1,558,000 after buying an additional 17,869 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Insmed by 1.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 288,073 shares of the biopharmaceutical company’s stock worth $21,029,000 after buying an additional 5,062 shares during the period. Finally, Quantbot Technologies LP bought a new position in Insmed during the third quarter worth about $133,000.

Insmed Trading Down 2.5 %

NASDAQ INSM opened at $76.57 on Thursday. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $84.91. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The stock has a 50 day moving average of $77.97 and a 200-day moving average of $73.91. The company has a market cap of $13.86 billion, a PE ratio of -13.70 and a beta of 1.28.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The firm had revenue of $104.44 million during the quarter, compared to analyst estimates of $102.31 million. On average, equities research analysts anticipate that Insmed Incorporated will post -4.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. HC Wainwright restated a “buy” rating and issued a $90.00 price target on shares of Insmed in a report on Friday, February 21st. Bank of America lifted their price target on shares of Insmed from $92.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, March 20th. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price objective on shares of Insmed in a research report on Wednesday, March 19th. Guggenheim reaffirmed a “buy” rating and issued a $101.00 price objective on shares of Insmed in a research report on Tuesday, February 25th. Finally, Truist Financial increased their target price on Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

Insider Activity at Insmed

In related news, insider Martina M.D. Flammer sold 3,344 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total value of $220,403.04. Following the sale, the insider now owns 102,766 shares in the company, valued at approximately $6,773,307.06. This represents a 3.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total value of $1,309,500.00. Following the sale, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at $26,885,606.40. This represents a 4.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 550,957 shares of company stock worth $42,992,528. 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.