JCIC Asset Management Inc. Takes $133,000 Position in Insmed Incorporated (NASDAQ:INSM)

JCIC Asset Management Inc. acquired a new position in shares of Insmed Incorporated (NASDAQ:INSM) during the third quarter, HoldingsChannel reports. The firm acquired 1,820 shares of the biopharmaceutical company’s stock, valued at approximately $133,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Insmed by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock worth $393,636,000 after purchasing an additional 383,714 shares in the last quarter. Darwin Global Management Ltd. acquired a new position in shares of Insmed during the second quarter worth about $237,076,000. Principal Financial Group Inc. grew its holdings in shares of Insmed by 15.2% during the second quarter. Principal Financial Group Inc. now owns 1,657,760 shares of the biopharmaceutical company’s stock worth $111,069,000 after buying an additional 218,480 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Insmed by 76.8% during the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock worth $110,212,000 after buying an additional 714,539 shares in the last quarter. Finally, Capital International Investors acquired a new stake in Insmed in the 1st quarter valued at approximately $43,973,000.

Insiders Place Their Bets

In other news, insider Martina M.D. Flammer sold 13,436 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the transaction, the insider now owns 106,134 shares in the company, valued at approximately $7,951,559.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the transaction, the insider now directly owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the sale, the insider now directly owns 100,100 shares of the company’s stock, valued at $7,157,150. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock worth $5,765,446 over the last three months. Insiders own 4.60% of the company’s stock.

Insmed Trading Down 2.4 %

Shares of Insmed stock opened at $71.94 on Thursday. The company has a debt-to-equity ratio of 25.05, a current ratio of 2.71 and a quick ratio of 2.53. The business has a fifty day simple moving average of $73.98 and a two-hundred day simple moving average of $59.42. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $80.53. The company has a market capitalization of $10.69 billion, a price-to-earnings ratio of -13.76 and a beta of 1.11.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The firm had revenue of $90.34 million for the quarter, compared to the consensus estimate of $87.95 million. The business’s revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.78) EPS. Research analysts forecast that Insmed Incorporated will post -5.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on INSM shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. The Goldman Sachs Group lifted their price target on shares of Insmed from $74.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. StockNews.com cut shares of Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Morgan Stanley raised their price objective on Insmed from $60.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, July 12th. Finally, HC Wainwright reiterated a “buy” rating and set a $90.00 target price on shares of Insmed in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.73.

Insmed Profile

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.