iA Global Asset Management Inc. Has $5.72 Million Holdings in Insmed, Inc. $INSM

iA Global Asset Management Inc. boosted its position in shares of Insmed, Inc. (NASDAQ:INSM) by 31.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,977 shares of the biopharmaceutical company’s stock after purchasing an additional 8,295 shares during the period. iA Global Asset Management Inc.’s holdings in Insmed were worth $5,719,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Private Wealth Group LLC boosted its position in shares of Insmed by 42.1% during the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 53 shares during the period. CoreCap Advisors LLC acquired a new stake in Insmed in the 4th quarter valued at approximately $27,000. GraniteShares Advisors LLC bought a new stake in Insmed in the 4th quarter valued at approximately $30,000. Reflection Asset Management acquired a new position in Insmed during the 4th quarter worth approximately $30,000. Finally, Raiffeisen Bank International AG acquired a new position in Insmed during the 4th quarter worth approximately $32,000.

Insider Activity

In other news, insider Michael Alexander Smith sold 1,806 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $95.82, for a total transaction of $173,050.92. Following the completion of the transaction, the insider directly owned 37,648 shares of the company’s stock, valued at $3,607,431.36. This represents a 4.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 2,370 shares of the company’s stock in a transaction that occurred on 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 approximately $10,084,128.81. The trade was 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. Over the last ninety days, insiders sold 65,289 shares of company stock worth $7,824,301. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on INSM. Morgan Stanley upgraded shares of Insmed from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $166.00 to $212.00 in a report on Monday, March 30th. Raymond James Financial assumed coverage on shares of Insmed in a report on Friday, April 10th. They set an “outperform” rating and a $200.00 target price for the company. Roth Mkm reaffirmed a “buy” rating on shares of Insmed in a research report on Monday, June 8th. Bank of America lifted their price target on shares of Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Finally, HC Wainwright reissued a “buy” rating on shares of Insmed in a research report on Friday, May 8th. One research 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.86.

Insmed Stock Performance

NASDAQ:INSM opened at $107.00 on Thursday. Insmed, Inc. has a twelve month low of $90.39 and a twelve month high of $212.75. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The stock’s 50-day simple moving average is $110.66 and its 200 day simple moving average is $141.61. The firm has a market capitalization of $23.19 billion, a PE ratio of -18.61 and a beta of 0.78.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm had revenue of $305.96 million during the quarter, compared to analysts’ expectations of $300.81 million. During the same quarter in the prior year, the business earned ($1.42) earnings per share. The business’s revenue for the quarter was up 229.7% compared to the same quarter last year. On average, analysts anticipate that Insmed, Inc. will post -2.55 EPS for the current fiscal year.

Insmed Profile

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.