206,532 Shares in Insmed, Inc. $INSM Bought by Alberta Investment Management Corp

Alberta Investment Management Corp acquired a new stake in shares of Insmed, Inc. (NASDAQ:INSM) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 206,532 shares of the biopharmaceutical company’s stock, valued at approximately $35,945,000.

A number of other institutional investors also recently bought and sold shares of INSM. CIBC Private Wealth Group LLC boosted its position in Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 53 shares during the last quarter. CoreCap Advisors LLC purchased a new stake in shares of Insmed during the 4th quarter valued at about $27,000. GraniteShares Advisors LLC purchased a new stake in shares of Insmed during the 4th quarter valued at about $30,000. Raiffeisen Bank International AG bought a new position in shares of Insmed in the 4th quarter worth approximately $32,000. Finally, RiverPark Advisors LLC bought a new position in shares of Insmed in the 3rd quarter worth approximately $38,000.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Bank of America boosted their target price 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. Jefferies Financial Group started coverage on shares of Insmed in a research report on Monday, March 16th. They issued a “buy” rating and a $228.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research report on Tuesday, April 21st. Finally, Guggenheim cut their price objective on shares of Insmed from $230.00 to $226.00 and set a “buy” rating for the company in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $211.86.

Insmed Price Performance

NASDAQ INSM opened at $95.70 on Friday. Insmed, Inc. has a 12 month low of $90.39 and a 12 month high of $212.75. The stock has a market cap of $20.74 billion, a price-to-earnings ratio of -16.64 and a beta of 0.79. The company’s 50 day moving average is $119.26 and its two-hundred day moving average is $147.84. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.14. The business had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The company’s revenue for the quarter 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, research analysts anticipate that Insmed, Inc. will post -2.54 earnings per share for the current year.

Insider Activity

In related news, CFO Sara Bonstein sold 2,404 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $245,857.08. Following the completion of the transaction, the chief financial officer owned 69,082 shares of the company’s stock, valued at approximately $7,065,016.14. This represents a 3.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 7,605 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $777,763.35. Following the completion of the sale, the chief executive officer owned 265,432 shares of the company’s stock, valued at $27,145,730.64. The trade was a 2.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 149,783 shares of company stock valued at $22,902,672 over the last 90 days. Company insiders own 2.10% of the company’s stock.

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.