Teacher Retirement System of Texas Grows Position in Insmed Incorporated (NASDAQ:INSM)

Teacher Retirement System of Texas lifted its position in shares of Insmed Incorporated (NASDAQ:INSM) by 24.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 48,337 shares of the biopharmaceutical company’s stock after purchasing an additional 9,471 shares during the quarter. Teacher Retirement System of Texas’ holdings in Insmed were worth $3,337,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INSM. Geode Capital Management LLC lifted its position in Insmed by 4.7% during the third quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock valued at $278,432,000 after buying an additional 172,664 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Insmed by 0.5% during the 4th quarter. William Blair Investment Management LLC now owns 2,433,443 shares of the biopharmaceutical company’s stock valued at $168,005,000 after acquiring an additional 12,535 shares in the last quarter. Principal Financial Group Inc. boosted its position in Insmed by 12.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock worth $136,648,000 after purchasing an additional 214,130 shares during the period. Vestal Point Capital LP increased its holdings in Insmed by 113.3% in the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after purchasing an additional 850,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Insmed by 7.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,546,607 shares of the biopharmaceutical company’s stock valued at $106,778,000 after purchasing an additional 102,341 shares during the period.

Insider Activity

In other news, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.03, for a total transaction of $1,519,312.50. Following the completion of the transaction, the chief executive officer now owns 334,186 shares in the company, valued at approximately $27,079,091.58. This represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Martina M.D. Flammer sold 3,344 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total transaction of $220,403.04. Following the completion of the sale, the insider now directly owns 102,766 shares in the company, 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. Over the last ninety days, insiders sold 550,957 shares of company stock valued at $42,992,528. 4.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Guggenheim reaffirmed a “buy” rating and issued a $101.00 price objective on shares of Insmed in a research report on Tuesday, February 25th. Morgan Stanley boosted their target price on shares of Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Truist Financial raised their price target on shares of Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $94.00.

Insmed Stock Performance

Shares of INSM opened at $78.54 on Wednesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $84.91. The business’s fifty day moving average price is $77.84 and its 200 day moving average price is $73.89. The stock has a market capitalization of $14.22 billion, a PE ratio of -14.05 and a beta of 1.28.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing the consensus estimate 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 business had revenue of $104.44 million during the quarter, compared to analyst estimates of $102.31 million. Equities research analysts forecast that Insmed Incorporated will post -4.56 EPS for the current year.

Insmed Profile

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.