CIBC Asset Management Inc Boosts Stock Holdings in Insmed, Inc. $INSM

CIBC Asset Management Inc boosted its position in shares of Insmed, Inc. (NASDAQ:INSM) by 914.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,463 shares of the biopharmaceutical company’s stock after buying an additional 43,686 shares during the period. CIBC Asset Management Inc’s holdings in Insmed were worth $8,435,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in shares of Insmed by 22.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,390,042 shares of the biopharmaceutical company’s stock valued at $241,923,000 after purchasing an additional 251,141 shares in the last quarter. Bridges Investment Management Inc. grew its position in shares of Insmed by 35.4% in the fourth quarter. Bridges Investment Management Inc. now owns 2,081 shares of the biopharmaceutical company’s stock valued at $362,000 after purchasing an additional 544 shares in the last quarter. Main Management ETF Advisors LLC grew its position in shares of Insmed by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 13,311 shares of the biopharmaceutical company’s stock valued at $2,317,000 after purchasing an additional 136 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Insmed by 2,384.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 83,544 shares of the biopharmaceutical company’s stock valued at $14,540,000 after purchasing an additional 80,181 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Insmed by 111.2% in the fourth quarter. BNP Paribas Financial Markets now owns 915,419 shares of the biopharmaceutical company’s stock valued at $159,320,000 after purchasing an additional 482,079 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Guggenheim dropped their price target on Insmed from $230.00 to $226.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Bank of America upped their price target on Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Morgan Stanley upgraded 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 report on Monday, March 30th. Roth Mkm restated a “buy” rating and issued a $212.00 price target on shares of Insmed in a research report on Friday, April 17th. Finally, Royal Bank Of Canada lowered their price objective on Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Insmed currently has an average rating of “Moderate Buy” and a consensus target price of $210.50.

Insider Transactions 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, COO Roger Adsett sold 2,370 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $242,379.90. Following the completion of the transaction, the chief operating officer owned 98,603 shares in the company, valued at $10,084,128.81. This trade represents a 2.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 160,482 shares of company stock worth $24,438,193 over the last three months. 2.10% of the stock is currently owned by company insiders.

Insmed Stock Down 10.2%

Insmed stock opened at $94.22 on Friday. Insmed, Inc. has a 1-year low of $70.57 and a 1-year high of $212.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The stock has a market cap of $20.42 billion, a PE ratio of -16.39 and a beta of 0.79. The stock’s fifty day moving average is $130.45 and its two-hundred day moving average is $154.95.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The company had revenue of $305.96 million for the quarter, compared to analysts’ expectations of $300.81 million. During the same period last year, the firm earned ($1.42) earnings per share. Insmed’s quarterly revenue was up 229.7% on a year-over-year basis. On average, sell-side analysts expect that Insmed, Inc. will post -2.56 EPS for the current fiscal year.

About Insmed

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.