Insmed, Inc. $INSM Shares Purchased by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management dramatically increased its Insmed stake by 15,973.5% in the fourth quarter, ending with 26,682 shares valued at about $4.64 million.
• Insmed reported better-than-expected Q1 earnings, posting an EPS loss of $0.76 versus estimates for a $0.90 loss and revenue of $305.96 million, up 229.7% year over year.
• Despite strong revenue growth, the stock has seen insider selling and mixed analyst moves, though Wall Street still leans bullish with a consensus rating of Moderate Buy and an average target price of $210.95.

iA Global Asset Management Inc. boosted its stake in Insmed, Inc. (NASDAQ:INSM - Free Report) by 15,973.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,682 shares of the biopharmaceutical company's stock after acquiring an additional 26,516 shares during the period. iA Global Asset Management Inc.'s holdings in Insmed were worth $4,644,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in INSM. CIBC Private Wealth Group LLC raised its holdings in Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock valued at $26,000 after acquiring an additional 53 shares in the last quarter. CoreCap Advisors LLC acquired a new stake in Insmed in the fourth quarter valued at $27,000. SBI Securities Co. Ltd. raised its holdings in Insmed by 404.9% in the third quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company's stock valued at $30,000 after acquiring an additional 166 shares in the last quarter. GraniteShares Advisors LLC acquired a new stake in Insmed in the fourth quarter valued at $30,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Insmed by 169.7% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company's stock valued at $38,000 after acquiring an additional 151 shares in the last quarter.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $109.14 on Monday. The stock has a market capitalization of $23.66 billion, a price-to-earnings ratio of -18.98 and a beta of 0.89. Insmed, Inc. has a 1-year low of $64.85 and a 1-year high of $212.75. The company's fifty day moving average is $141.33 and its two-hundred day moving average is $163.25. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47.

Insmed (NASDAQ:INSM - Get Free Report) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping analysts' consensus estimates of ($0.90) by $0.14. The company had revenue of $305.96 million for the quarter, compared to analysts' expectations of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm's revenue was up 229.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.42) earnings per share. Equities analysts anticipate that Insmed, Inc. will post -2.52 EPS for the current year.

Insiders Place Their Bets

In related news, insider Michael Alexander Smith sold 19,638 shares of the stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $150.98, for a total value of $2,964,945.24. Following the sale, the insider owned 51,871 shares of the company's stock, valued at $7,831,483.58. This trade represents a 27.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Lewis sold 10,699 shares of the stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $143.97, for a total transaction of $1,540,335.03. Following the completion of the sale, the chief executive officer directly owned 301,185 shares in the company, valued at approximately $43,361,604.45. This trade represents a 3.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 161,193 shares of company stock valued at $25,462,012. Company insiders own 2.10% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Wells Fargo & Company cut their price target on shares of Insmed from $177.00 to $160.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Roth Mkm reaffirmed a "buy" rating and issued a $212.00 price target on shares of Insmed in a report on Friday, April 17th. Barclays upped their price target on shares of Insmed from $231.00 to $237.00 and gave the company an "overweight" rating in a report on Wednesday, April 1st. Truist Financial cut their price target on shares of Insmed from $205.00 to $185.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Bank of America increased their target price on shares of Insmed from $211.00 to $213.00 and gave the stock a "buy" rating in a report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $210.95.

Insmed Company 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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