Insmed Incorporated (NASDAQ:INSM) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 5.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,623 shares of the biopharmaceutical company’s stock after buying an additional 2,962 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Insmed were worth $4,352,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in INSM. V Square Quantitative Management LLC purchased a new position in Insmed during the 3rd quarter worth $30,000. EntryPoint Capital LLC purchased a new stake in shares of Insmed in the first quarter valued at about $33,000. GAMMA Investing LLC boosted its holdings in shares of Insmed by 71.3% in the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 224 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Insmed by 83.4% in the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 287 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Insmed by 522.5% in the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 627 shares in the last quarter.

Insider Activity

In other news, insider Michael Alexander Smith sold 27,871 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the transaction, the insider now owns 67,856 shares of the company’s stock, valued at $5,045,093.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total value of $2,686,612.50. Following the completion of the transaction, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Alexander Smith sold 27,871 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the completion of the sale, the insider now owns 67,856 shares of the company’s stock, valued at approximately $5,045,093.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 78,882 shares of company stock valued at $5,765,446 over the last 90 days. Insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on INSM shares. Stifel Nicolaus lifted their target price on shares of Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a report on Friday, August 9th. StockNews.com downgraded shares of Insmed from a “hold” rating to a “sell” rating in a report on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Insmed in a report on Friday, November 1st. TD Cowen lifted their target price on shares of Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Truist Financial reissued a “buy” rating and set a $105.00 price objective (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.07.

Insmed Stock Performance

Shares of INSM opened at $70.14 on Wednesday. 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 cap of $12.55 billion, a P/E ratio of -12.64 and a beta of 1.12. The company has a 50-day moving average of $72.42 and a two-hundred day moving average of $63.72. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $80.53.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The business had revenue of $93.40 million for the quarter, compared to the consensus estimate of $93.36 million. The company’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.10) EPS. As a group, research analysts predict that Insmed Incorporated will post -5.42 EPS for the current fiscal year.

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.