JCIC Asset Management Inc. Purchases 740 Shares of Insmed Incorporated (NASDAQ:INSM)

JCIC Asset Management Inc. raised its position in Insmed Incorporated (NASDAQ:INSM) by 40.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,560 shares of the biopharmaceutical company’s stock after acquiring an additional 740 shares during the quarter. JCIC Asset Management Inc.’s holdings in Insmed were worth $177,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Orion Portfolio Solutions LLC boosted its holdings in shares of Insmed by 48.5% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock worth $2,050,000 after buying an additional 9,170 shares during the period. Ally Bridge Group NY LLC increased its stake in shares of Insmed by 16.9% during the third quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock worth $11,011,000 after purchasing an additional 21,833 shares during the period. Vestal Point Capital LP lifted its holdings in Insmed by 113.3% during the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after purchasing an additional 850,000 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in Insmed in the 3rd quarter valued at $35,322,000. Finally, Jennison Associates LLC lifted its holdings in shares of Insmed by 3.4% during the third quarter. Jennison Associates LLC now owns 769,253 shares of the biopharmaceutical company’s stock worth $56,155,000 after buying an additional 24,973 shares in the last quarter.

Insider Buying and Selling at Insmed

In other news, CEO William Lewis sold 18,750 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the transaction, the chief executive officer now owns 384,960 shares of the company’s stock, valued at $26,912,553.60. This represents a 4.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Martina M.D. Flammer sold 3,344 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total value of $220,403.04. Following the completion of the sale, the insider now owns 102,766 shares of the company’s stock, valued at approximately $6,773,307.06. This represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,094 shares of company stock valued at $4,733,986. 4.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. JPMorgan Chase & Co. increased their price target on Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Truist Financial reaffirmed a “buy” rating and issued a $105.00 price objective (up from $100.00) on shares of Insmed in a report on Friday, November 1st. Finally, Bank of America boosted their price target on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and a consensus target price of $83.67.

Insmed Trading Up 5.7 %

Shares of INSM traded up $3.71 during trading hours on Monday, hitting $68.96. 1,409,163 shares of the stock were exchanged, compared to its average volume of 1,812,999. The firm has a market capitalization of $12.34 billion, a P/E ratio of -12.43 and a beta of 1.12. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The business has a 50-day moving average of $71.23 and a 200-day moving average of $72.46.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. During the same quarter last year, the company earned ($1.10) earnings per share. Insmed’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, research analysts expect that Insmed Incorporated will post -5.44 EPS for the current year.

About Insmed

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.