Insmed Incorporated (NASDAQ:INSM) Shares Purchased by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co boosted its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,379 shares of the biopharmaceutical company’s stock after buying an additional 1,568 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Insmed were worth $2,717,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. National Bank of Canada FI boosted its position in shares of Insmed by 9.7% during the 4th quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company’s stock valued at $115,000 after acquiring an additional 147 shares during the last quarter. Abel Hall LLC raised its stake in Insmed by 4.7% during the fourth quarter. Abel Hall LLC now owns 3,333 shares of the biopharmaceutical company’s stock worth $230,000 after purchasing an additional 151 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Insmed by 65.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 163 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Insmed by 5.6% during the 4th quarter. M&T Bank Corp now owns 3,146 shares of the biopharmaceutical company’s stock worth $217,000 after buying an additional 166 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Insmed by 5.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,533 shares of the biopharmaceutical company’s stock valued at $244,000 after buying an additional 183 shares during the period.

Insider Buying and Selling at Insmed

In other news, CEO William Lewis sold 6,830 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $70.16, for a total value of $479,192.80. Following the completion of the sale, the chief executive officer now directly owns 233,924 shares of the company’s stock, valued at approximately $16,412,107.84. This represents a 2.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 91,140 shares of Insmed stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $80.00, for a total transaction of $7,291,200.00. Following the completion of the transaction, the insider now directly owns 97,083 shares in the company, valued at $7,766,640. The trade was a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 471,797 shares of company stock worth $37,621,239 over the last three months. Insiders own 3.00% of the company’s stock.

Insmed Trading Up 1.1 %

Shares of NASDAQ:INSM opened at $69.69 on Friday. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $84.91. The company’s 50 day moving average is $74.38 and its two-hundred day moving average is $73.56. The company has a market cap of $12.67 billion, a PE ratio of -12.47 and a beta of 1.07. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The business had revenue of $104.44 million during the quarter, compared to analyst estimates of $102.31 million. Equities analysts predict that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on INSM shares. Truist Financial lifted their target price on Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Wells Fargo & Company upped their target price on shares of Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price target on shares of Insmed in a research report on Wednesday, March 19th. Morgan Stanley upped their price objective on shares of Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Insmed in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Insmed currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

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.