Insmed, Inc. $INSM Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its holdings in shares of Insmed, Inc. (NASDAQ:INSM) by 2.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 303,182 shares of the biopharmaceutical company’s stock after selling 7,148 shares during the quarter. California State Teachers Retirement System owned approximately 0.14% of Insmed worth $49,576,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC grew its position in shares of Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 53 shares during the last quarter. CoreCap Advisors LLC purchased a new stake in Insmed in the 4th quarter valued at approximately $27,000. GraniteShares Advisors LLC acquired a new stake in Insmed during the 4th quarter valued at $30,000. Reflection Asset Management acquired a new stake in Insmed during the 4th quarter valued at $30,000. Finally, Raiffeisen Bank International AG purchased a new position in Insmed during the fourth quarter worth $32,000.

Analysts Set New Price Targets

A number of research firms recently commented on INSM. Guggenheim reaffirmed a “buy” rating and set a $207.00 price objective on shares of Insmed in a research note on Friday, July 10th. HC Wainwright reissued a “buy” rating and issued a $220.00 target price on shares of Insmed in a research note on Monday, July 20th. Roth Capital restated a “buy” rating on shares of Insmed in a report on Monday, June 8th. Royal Bank Of Canada decreased their price target on shares of Insmed from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Finally, Mizuho set a $192.00 price objective on shares of Insmed in a research report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $209.35.

Insider Activity at Insmed

In other news, CEO William Lewis sold 21,398 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $103.32, for a total transaction of $2,210,841.36. Following the completion of the transaction, the chief executive officer owned 258,917 shares of the company’s stock, valued at $26,751,304.44. This represents a 7.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 2,370 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $242,379.90. Following the completion of the sale, the chief operating officer directly owned 98,603 shares in the company, valued at $10,084,128.81. This represents a 2.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 54,590 shares of company stock worth $5,793,738. 2.10% of the stock is owned by insiders.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $101.49 on Friday. The company has a market cap of $22.00 billion, a P/E ratio of -17.65 and a beta of 0.78. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. Insmed, Inc. has a 52 week low of $90.39 and a 52 week high of $212.75. The business has a fifty day simple moving average of $104.83 and a 200-day simple moving average of $131.25.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $300.81 million. During the same period in the prior year, the business posted ($1.42) earnings per share. The firm’s revenue for the quarter was up 229.7% compared to the same quarter last year. Equities research analysts forecast that Insmed, Inc. will post -2.43 EPS for the current year.

Insmed Profile

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.