California State Teachers Retirement System Has $3.46 Billion Stock Position in Insmed, Inc. $INSM

California State Teachers Retirement System increased its position in shares of Insmed, Inc. (NASDAQ:INSM) by 10,618.8% during the second quarter, Holdings Channel reports. The fund owned 32,497,563 shares of the biopharmaceutical company’s stock after acquiring an additional 32,194,381 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Insmed worth $3,464,890,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Reflection Asset Management acquired a new position in Insmed in the 4th quarter worth approximately $30,000. CIBC Private Wealth Group LLC grew its position in Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 53 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in Insmed during the 4th quarter valued at $32,000. Larson Financial Group LLC raised its stake in Insmed by 137.0% during the 4th quarter. Larson Financial Group LLC now owns 256 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 148 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in Insmed during the 4th quarter valued at $49,000.

Insider Buying and Selling at Insmed

In other news, CEO William Lewis sold 21,398 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $103.32, for a total transaction of $2,210,841.36. Following the completion of the sale, the chief executive officer directly owned 258,917 shares of the company’s stock, valued at $26,751,304.44. This trade represents a 7.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Smith sold 1,806 shares of Insmed stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $95.82, for a total value of $173,050.92. Following the sale, the insider owned 37,648 shares of the company’s stock, valued at approximately $3,607,431.36. This represents a 4.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 273,753 shares of company stock worth $35,604,764 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on INSM shares. Truist Financial reaffirmed a “buy” rating and issued a $195.00 target price (up from $185.00) on shares of Insmed in a research report on Monday, August 10th. BMO Capital Markets began coverage on Insmed in a research report on Monday, July 20th. They set an “outperform” rating and a $192.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research report on Friday, July 17th. Guggenheim reduced their price objective on Insmed from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Finally, UBS Group restated a “buy” rating and set a $172.00 price objective on shares of Insmed in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $205.52.

Insmed Trading Down 1.2%

Shares of NASDAQ:INSM opened at $127.28 on Friday. The firm has a fifty day moving average of $117.40 and a two-hundred day moving average of $124.21. The firm has a market capitalization of $27.80 billion, a P/E ratio of -30.97 and a beta of 0.82. Insmed, Inc. has a 12-month low of $90.39 and a 12-month high of $212.75. The company has a quick ratio of 3.40, a current ratio of 3.72 and a debt-to-equity ratio of 0.74.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.61. Insmed had a negative net margin of 76.94% and a negative return on equity of 123.94%. The business had revenue of $425.49 million for the quarter, compared to analysts’ expectations of $395.50 million. During the same period in the previous year, the company posted ($1.70) EPS. Insmed’s revenue was up 296.1% on a year-over-year basis. On average, equities analysts expect that Insmed, Inc. will post -1.83 EPS for the current fiscal year.

Insmed Profile

Insmed Incorporated (NASDAQ: INSM) is a global biopharmaceutical company focused on developing and commercializing therapies for serious and rare diseases. The company’s work centers on areas of significant unmet medical need, including pulmonary and infectious diseases, as well as other specialty conditions.

Insmed’s primary commercial product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled antibacterial therapy approved in the United States for adults with refractory Mycobacterium avium complex lung disease as part of a combination antibacterial regimen.