Arizona State Retirement System Purchases 1,106 Shares of Insmed Incorporated (NASDAQ:INSM)

Arizona State Retirement System grew its position in Insmed Incorporated (NASDAQ:INSMGet Rating) by 3.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,998 shares of the biopharmaceutical company’s stock after acquiring an additional 1,106 shares during the period. Arizona State Retirement System’s holdings in Insmed were worth $752,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Advisor Group Holdings Inc. grew its position in shares of Insmed by 56.4% in the 4th quarter. Advisor Group Holdings Inc. now owns 2,140 shares of the biopharmaceutical company’s stock valued at $58,000 after acquiring an additional 772 shares during the period. State Board of Administration of Florida Retirement System grew its position in shares of Insmed by 1.8% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 45,142 shares of the biopharmaceutical company’s stock valued at $1,230,000 after acquiring an additional 784 shares during the period. First Republic Investment Management Inc. grew its position in shares of Insmed by 10.7% in the 4th quarter. First Republic Investment Management Inc. now owns 8,583 shares of the biopharmaceutical company’s stock valued at $234,000 after acquiring an additional 832 shares during the period. Strs Ohio grew its position in shares of Insmed by 58.8% in the 4th quarter. Strs Ohio now owns 2,700 shares of the biopharmaceutical company’s stock valued at $73,000 after acquiring an additional 1,000 shares during the period. Finally, CNA Financial Corp grew its position in shares of Insmed by 5.8% in the 4th quarter. CNA Financial Corp now owns 21,594 shares of the biopharmaceutical company’s stock valued at $588,000 after acquiring an additional 1,180 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts recently commented on INSM shares. Morgan Stanley reduced their target price on shares of Insmed from $46.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, July 15th. The Goldman Sachs Group reduced their target price on shares of Insmed from $56.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, May 24th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $49.67.

Insmed Price Performance

Shares of Insmed stock opened at $20.97 on Wednesday. Insmed Incorporated has a twelve month low of $16.41 and a twelve month high of $34.44. The company has a quick ratio of 5.52, a current ratio of 6.04 and a debt-to-equity ratio of 6.73. The company has a 50-day simple moving average of $20.68 and a two-hundred day simple moving average of $21.94. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of -5.55 and a beta of 1.91.

Insmed (NASDAQ:INSMGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.11. Insmed had a negative net margin of 217.35% and a negative return on equity of 108.20%. The business had revenue of $53.10 million during the quarter, compared to analysts’ expectations of $53.36 million. During the same quarter in the previous year, the company earned ($0.89) EPS. The business’s revenue was up 32.1% on a year-over-year basis. Analysts forecast that Insmed Incorporated will post -3.52 EPS for the current year.

Insiders Place Their Bets

In other Insmed news, Director Melvin Md Sharoky acquired 20,000 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was acquired at an average price of $17.20 per share, for a total transaction of $344,000.00. Following the purchase, the director now directly owns 262,621 shares of the company’s stock, valued at $4,517,081.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Insmed news, Director Melvin Md Sharoky acquired 20,000 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was acquired at an average price of $17.20 per share, for a total transaction of $344,000.00. Following the purchase, the director now directly owns 262,621 shares of the company’s stock, valued at $4,517,081.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William Lewis sold 96,614 shares of the business’s stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $23.00, for a total transaction of $2,222,122.00. Following the completion of the transaction, the chief executive officer now owns 256,716 shares of the company’s stock, valued at $5,904,468. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.

About Insmed

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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.

See Also

Want to see what other hedge funds are holding INSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Insmed Incorporated (NASDAQ:INSMGet Rating).

Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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