New York State Common Retirement Fund Has $21.94 Million Stock Holdings in Insmed Incorporated (NASDAQ:INSM)

New York State Common Retirement Fund increased its position in shares of Insmed Incorporated (NASDAQ:INSM) by 8.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 317,753 shares of the biopharmaceutical company’s stock after acquiring an additional 24,974 shares during the period. New York State Common Retirement Fund’s holdings in Insmed were worth $21,938,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vestal Point Capital LP lifted its holdings in shares of Insmed by 113.3% during 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 buying an additional 850,000 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in Insmed in the third quarter worth approximately $35,322,000. Assenagon Asset Management S.A. increased its holdings in Insmed by 119.2% in the third quarter. Assenagon Asset Management S.A. now owns 857,360 shares of the biopharmaceutical company’s stock worth $62,587,000 after buying an additional 466,306 shares during the last quarter. Victory Capital Management Inc. raised its position in Insmed by 209.9% during the third quarter. Victory Capital Management Inc. now owns 455,959 shares of the biopharmaceutical company’s stock valued at $33,285,000 after acquiring an additional 308,819 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in Insmed in the third quarter valued at approximately $18,377,000.

Insider Activity at Insmed

In other Insmed news, CFO Sara Bonstein sold 18,322 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $80.31, for a total value of $1,471,439.82. Following the completion of the transaction, the chief financial officer now owns 118,863 shares of the company’s stock, valued at $9,545,887.53. This represents a 13.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Martina M.D. Flammer sold 1,384 shares of Insmed stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $68.72, for a total value of $95,108.48. Following the sale, the insider now directly owns 100,165 shares in the company, valued at $6,883,338.80. The trade was a 1.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 532,207 shares of company stock worth $41,400,465. Company insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research report on Wednesday. Morgan Stanley increased their price objective on Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Truist Financial boosted their target price on Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.00.

Insmed Stock Down 3.0 %

INSM opened at $81.06 on Friday. The business has a 50 day moving average of $74.29 and a 200-day moving average of $73.59. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of -14.61 and a beta of 1.11. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $84.91.

Insmed (NASDAQ:INSM) last released its 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). The company had revenue of $104.44 million for the quarter, compared to analysts’ expectations of $102.31 million. As a group, sell-side analysts anticipate that Insmed Incorporated will post -5.42 earnings per share 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.