Alberta Investment Management Corp Acquires New Stake in Insmed, Inc. $INSM

Key Points

• Alberta Investment Management Corp opened a new position in Insmed during the fourth quarter, buying 206,532 shares valued at about $35.9 million.
• Insmed reported better-than-expected Q1 earnings, posting EPS of -$0.76 versus the -$0.90 estimate and revenue of $305.96 million, up 229.7% year over year.
• The stock was down 2.8% to $95.70, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $211.86.

Alberta Investment Management Corp bought a new position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 206,532 shares of the biopharmaceutical company's stock, valued at approximately $35,945,000. Alberta Investment Management Corp owned about 0.10% of Insmed as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Artisan Partners Limited Partnership increased its stake in shares of Insmed by 49.0% during the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company's stock valued at $711,076,000 after buying an additional 1,623,342 shares during the period. Atika Capital Management LLC purchased a new stake in Insmed in the third quarter worth $13,681,000. iA Global Asset Management Inc. lifted its stake in Insmed by 15,973.5% in the fourth quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company's stock worth $4,644,000 after acquiring an additional 26,516 shares during the period. Monashee Investment Management LLC bought a new stake in Insmed in the fourth quarter valued at $8,702,000. Finally, Nordea Investment Management AB bought a new stake in Insmed in the fourth quarter valued at $3,492,000.

Insmed Stock Down 2.8%

INSM stock opened at $95.70 on Friday. The business has a 50 day moving average of $119.26 and a 200 day moving average of $147.84. The firm has a market cap of $20.74 billion, a PE ratio of -16.64 and a beta of 0.79. 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.

Insmed (NASDAQ:INSM - Get Free Report) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping the consensus estimate 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 business had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. During the same period in the previous year, the company posted ($1.42) earnings per share. The company's revenue for the quarter was up 229.7% compared to the same quarter last year. On average, research analysts forecast that Insmed, Inc. will post -2.54 EPS for the current fiscal year.

Insider Activity

In other Insmed news, CEO William Lewis sold 7,605 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $777,763.35. Following the completion of the sale, the chief executive officer directly owned 265,432 shares in the company, valued at approximately $27,145,730.64. This trade represents a 2.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sara Bonstein sold 2,404 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $245,857.08. Following the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 149,783 shares of company stock valued at $22,902,672. Company insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

INSM has been the subject of several research analyst reports. Mizuho set a $192.00 target price on shares of Insmed in a research report on Tuesday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Insmed in a research report on Tuesday, April 21st. Morgan Stanley raised shares of Insmed from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $166.00 to $212.00 in a research note on Monday, March 30th. Stifel Nicolaus raised their price objective on shares of Insmed from $205.00 to $208.00 and gave the stock a "buy" rating in a report on Tuesday, March 24th. Finally, JPMorgan Chase & Co. cut their price objective on Insmed from $180.00 to $179.00 and set an "overweight" rating on the stock in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Insmed presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.86.

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.

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