Insmed Incorporated (NASDAQ:INSM) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 317,753 shares of the biopharmaceutical company’s stock after buying an additional 24,974 shares during the period. New York State Common Retirement Fund owned approximately 0.18% of Insmed worth $21,938,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in INSM. Jennison Associates LLC boosted its position in Insmed by 0.6% during the 4th quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock worth $53,424,000 after acquiring an additional 4,560 shares during the period. Capital CS Group LLC bought a new stake in shares of Insmed during the fourth quarter valued at about $586,000. Orion Portfolio Solutions LLC raised its stake in shares of Insmed by 48.5% during the third quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock valued at $2,050,000 after purchasing an additional 9,170 shares in the last quarter. Ally Bridge Group NY LLC lifted its holdings in Insmed by 16.9% in 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. Finally, TimesSquare Capital Management LLC bought a new position in Insmed in the 3rd quarter valued at about $35,322,000.

Insmed Trading Down 3.0 %

Shares of INSM opened at $81.06 on Friday. The business’s 50-day moving average price is $74.29 and its 200 day moving average price is $73.59. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $14.50 billion, a P/E ratio of -14.61 and a beta of 1.11. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $84.91.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.15). The firm had revenue of $104.44 million for the quarter, compared to analyst estimates of $102.31 million. Analysts expect that Insmed Incorporated will post -5.42 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on INSM shares. Truist Financial boosted their price target on shares of Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company boosted their target price on Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday. Stifel Nicolaus lowered their price target on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, Guggenheim raised their target price on Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.00.

Insiders Place Their Bets

In other news, insider Martina M.D. Flammer sold 3,344 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was 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 $6,773,307.06. This trade represents a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total value of $1,309,500.00. Following the transaction, the chief executive officer now directly owns 384,960 shares in the company, valued at $26,885,606.40. The trade was a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 532,207 shares of company stock worth $41,400,465. Corporate insiders own 4.60% of the company’s stock.

Insmed Company 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.