CIBC Asset Management Inc Increases Stock Position in Insmed Incorporated (NASDAQ:INSM)

CIBC Asset Management Inc boosted its stake in Insmed Incorporated (NASDAQ:INSM) by 3.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,438 shares of the biopharmaceutical company’s stock after purchasing an additional 149 shares during the quarter. CIBC Asset Management Inc’s holdings in Insmed were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in Insmed in the third quarter valued at approximately $30,000. GAMMA Investing LLC raised its stake in shares of Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 224 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Insmed by 83.4% during the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 287 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Insmed by 522.5% during the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 627 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of Insmed during the first quarter worth approximately $33,000.

Wall Street Analysts Forecast Growth

Several research analysts have commented on INSM shares. Stifel Nicolaus lifted their price target on shares of Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on shares of Insmed from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. UBS Group lifted their price target on shares of Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Bank of America lifted their price target on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, TD Cowen raised their target price on shares of Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.07.

Insider Transactions at Insmed

In related news, insider Martina M.D. Flammer sold 13,436 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the transaction, the insider now owns 106,134 shares in the company, valued at $7,951,559.28. The trade was a 11.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the transaction, the insider now owns 100,100 shares in the company, valued at approximately $7,157,150. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,882 shares of company stock valued at $5,765,446 in the last three months. 4.60% of the stock is currently owned by company insiders.

Insmed Stock Up 1.6 %

Shares of Insmed stock opened at $73.81 on Friday. 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 company’s fifty day simple moving average is $72.07 and its two-hundred day simple moving average is $65.65. The company has a market cap of $13.20 billion, a P/E ratio of -13.30 and a beta of 1.12. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $80.53.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million for the quarter, compared to analysts’ expectations of $93.36 million. Insmed’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.10) earnings per share. Research analysts anticipate that Insmed Incorporated will post -5.42 EPS for the current year.

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.