Insmed Incorporated (NASDAQ:INSM) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its position in shares of Insmed Incorporated (NASDAQ:INSM) by 24.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 48,337 shares of the biopharmaceutical company’s stock after buying an additional 9,471 shares during the period. Teacher Retirement System of Texas’ holdings in Insmed were worth $3,337,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of INSM. Steward Partners Investment Advisory LLC boosted its stake in Insmed by 65.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 163 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in Insmed by 60.3% in the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 248 shares during the last quarter. Spire Wealth Management bought a new position in shares of Insmed during the 4th quarter valued at about $47,000. Smartleaf Asset Management LLC grew its stake in shares of Insmed by 98.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 411 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in shares of Insmed in the 4th quarter worth approximately $86,000.

Insider Activity at Insmed

In other Insmed news, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $69.84, for a total transaction 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. This trade represents a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Martina M.D. Flammer sold 3,344 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total value of $220,403.04. Following the sale, the insider now owns 102,766 shares of the company’s stock, valued at approximately $6,773,307.06. This trade represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 550,957 shares of company stock valued at $42,992,528. 4.60% of the stock is owned by corporate insiders.

Insmed Trading Down 1.1 %

Shares of NASDAQ:INSM opened at $78.54 on Wednesday. The firm has a fifty day moving average of $77.84 and a two-hundred day moving average of $73.89. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $84.91. The firm has a market capitalization of $14.22 billion, a P/E ratio of -14.05 and a beta of 1.28.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) 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 firm had revenue of $104.44 million for the quarter, compared to analyst estimates of $102.31 million. On average, equities analysts expect that Insmed Incorporated will post -4.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INSM. Bank of America raised their target price on shares of Insmed from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, March 20th. Morgan Stanley boosted their target price on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Guggenheim reiterated a “buy” rating and issued a $101.00 price target on shares of Insmed in a research report on Tuesday, February 25th. Stifel Nicolaus cut their price objective on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Finally, HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Insmed in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.