North Dakota State Investment Board Purchases New Position in Insmed, Inc. $INSM

North Dakota State Investment Board purchased a new stake in shares of Insmed, Inc. (NASDAQ:INSM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,558 shares of the biopharmaceutical company’s stock, valued at approximately $1,141,000.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Insmed by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company’s stock valued at $3,668,127,000 after purchasing an additional 1,140,524 shares during the period. Darwin Global Management Ltd. increased its holdings in Insmed by 5.8% during the 3rd quarter. Darwin Global Management Ltd. now owns 20,457,445 shares of the biopharmaceutical company’s stock valued at $2,897,797,000 after purchasing an additional 1,112,824 shares during the period. Capital International Investors increased its holdings in Insmed by 1.0% during the 3rd quarter. Capital International Investors now owns 7,553,853 shares of the biopharmaceutical company’s stock valued at $1,087,830,000 after purchasing an additional 74,994 shares during the period. Artisan Partners Limited Partnership increased its holdings in Insmed by 49.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock valued at $711,076,000 after purchasing an additional 1,623,342 shares during the period. Finally, Duquesne Family Office LLC increased its holdings in Insmed by 3.0% during the 3rd quarter. Duquesne Family Office LLC now owns 2,423,435 shares of the biopharmaceutical company’s stock valued at $348,999,000 after purchasing an additional 70,000 shares during the period.

Insmed Stock Performance

Shares of INSM opened at $107.91 on Thursday. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average price is $139.24 and its 200-day moving average price is $161.82. Insmed, Inc. has a 52 week low of $64.85 and a 52 week high of $212.75. The stock has a market cap of $23.39 billion, a P/E ratio of -18.77 and a beta of 0.89.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The firm had revenue of $305.96 million for the quarter, compared to analysts’ expectations of $300.81 million. During the same period in the previous year, the firm posted ($1.42) EPS. The business’s revenue for the quarter was up 229.7% compared to the same quarter last year. Equities research analysts anticipate that Insmed, Inc. will post -2.52 earnings per share for the current fiscal year.

Insider Transactions at Insmed

In other news, insider Michael Alexander Smith sold 19,638 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $150.98, for a total value of $2,964,945.24. Following the sale, the insider directly owned 51,871 shares of the company’s stock, valued at $7,831,483.58. The trade was a 27.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Roger Adsett sold 88,060 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $164.63, for a total value of $14,497,317.80. Following the completion of the sale, the chief operating officer directly owned 106,810 shares in the company, valued at approximately $17,584,130.30. This represents a 45.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 150,494 shares of company stock valued at $23,846,784 in the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on INSM shares. Roth Mkm restated a “buy” rating and set a $212.00 price target on shares of Insmed in a report on Friday, April 17th. Stifel Nicolaus lifted their price objective on Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Insmed in a research report on Tuesday, April 21st. HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a research report on Friday, May 8th. Finally, Truist Financial cut their price objective on Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $210.95.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.