Cibc World Markets Corp Purchases New Stake in Insmed Incorporated (NASDAQ:INSM)

Cibc World Markets Corp acquired a new stake in Insmed Incorporated (NASDAQ:INSM - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 16,135 shares of the biopharmaceutical company's stock, valued at approximately $1,114,000.

Several other large investors have also recently added to or reduced their stakes in INSM. Steward Partners Investment Advisory LLC raised its stake in shares of Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 163 shares during the last quarter. V Square Quantitative Management LLC grew its stake in Insmed by 60.3% during the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 248 shares during the period. Spire Wealth Management acquired a new stake in shares of Insmed in the fourth quarter worth $47,000. Smartleaf Asset Management LLC lifted its stake in shares of Insmed by 98.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company's stock worth $57,000 after purchasing an additional 411 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in Insmed in the fourth quarter valued at approximately $86,000.

Insiders Place Their Bets

In related news, CFO Sara Bonstein sold 18,322 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $80.31, for a total transaction of $1,471,439.82. Following the completion of the sale, the chief financial officer now owns 118,863 shares of the company's stock, valued at $9,545,887.53. This trade represents a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William Lewis sold 2,978 shares of Insmed stock in a transaction on Friday, January 10th. The shares were sold at an average price of $63.36, for a total transaction of $188,686.08. Following the completion of the sale, the chief executive officer now owns 392,589 shares of the company's stock, valued at $24,874,439.04. This represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 550,957 shares of company stock valued at $42,992,528 in the last 90 days. Corporate insiders own 4.60% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms have recently weighed in on INSM. Morgan Stanley raised their price target on shares of Insmed from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Royal Bank of Canada reissued an "outperform" rating and set a $100.00 price target on shares of Insmed in a report on Wednesday, March 19th. JPMorgan Chase & Co. increased their price target on Insmed from $83.00 to $92.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Wells Fargo & Company increased their price target on Insmed from $85.00 to $107.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Insmed in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $94.00.

Insmed Price Performance

INSM traded down $1.97 during trading on Wednesday, hitting $76.57. 1,106,848 shares of the stock traded hands, compared to its average volume of 2,175,761. The business has a 50 day moving average price of $77.84 and a 200 day moving average price of $73.89. The company has a market cap of $13.86 billion, a price-to-earnings ratio of -13.70 and a beta of 1.28. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $84.91. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.15). The company had revenue of $104.44 million during the quarter, compared to the consensus estimate of $102.31 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. Equities research analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Insmed 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.