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

JCIC Asset Management Inc. bought a new stake in shares of Insmed Incorporated (NASDAQ:INSM) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 1,820 shares of the biopharmaceutical company’s stock, valued at approximately $133,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Insmed by 2.7% during the first quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock worth $393,636,000 after acquiring an additional 383,714 shares in the last quarter. Darwin Global Management Ltd. bought a new stake in shares of Insmed in the 2nd quarter worth about $237,076,000. Principal Financial Group Inc. increased its position in shares of Insmed by 15.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,657,760 shares of the biopharmaceutical company’s stock worth $111,069,000 after purchasing an additional 218,480 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Insmed by 76.8% during the 2nd quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after purchasing an additional 714,539 shares during the last quarter. Finally, Capital International Investors acquired a new position in Insmed in the first quarter valued at about $43,973,000.

Insiders Place Their Bets

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction dated 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 directly owns 106,134 shares in the company, valued at approximately $7,951,559.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $2,686,612.50. Following the completion of the transaction, the insider now directly owns 100,100 shares of the company’s stock, valued at approximately $7,157,150. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,882 shares of company stock worth $5,765,446. Insiders own 4.60% of the company’s stock.

Insmed Trading Down 2.4 %

Shares of NASDAQ INSM opened at $71.94 on Thursday. The company’s 50 day simple moving average is $73.98 and its 200 day simple moving average is $59.42. The company has a debt-to-equity ratio of 25.05, a current ratio of 2.71 and a quick ratio of 2.53. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The firm has a market capitalization of $10.69 billion, a P/E ratio of -13.76 and a beta of 1.11.

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

Analyst Ratings Changes

Several research firms have recently weighed in on INSM. StockNews.com lowered shares of Insmed from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a report on Monday, September 9th. Truist Financial boosted their price objective on Insmed from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. raised their target price on Insmed from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Finally, TD Cowen upped their price target on shares of Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Insmed presently has a consensus rating of “Moderate Buy” and a consensus target price 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.