State Board of Administration of Florida Retirement System Has $1.32 Million Stake in Insmed Incorporated (NASDAQ:INSM)

State Board of Administration of Florida Retirement System decreased its position in Insmed Incorporated (NASDAQ:INSM) by 6.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,872 shares of the biopharmaceutical company’s stock after selling 2,650 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Insmed were worth $1,324,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its holdings in Insmed by 9.8% in the first quarter. Principal Financial Group Inc. now owns 556,579 shares of the biopharmaceutical company’s stock valued at $18,958,000 after buying an additional 49,615 shares during the period. Rafferty Asset Management LLC lifted its holdings in Insmed by 264.5% in the first quarter. Rafferty Asset Management LLC now owns 85,180 shares of the biopharmaceutical company’s stock valued at $2,901,000 after buying an additional 61,809 shares during the period. GSA Capital Partners LLP lifted its holdings in Insmed by 52.6% in the first quarter. GSA Capital Partners LLP now owns 20,182 shares of the biopharmaceutical company’s stock valued at $687,000 after buying an additional 6,958 shares during the period. Integral Health Asset Management LLC raised its holdings in shares of Insmed by 40.0% during the first quarter. Integral Health Asset Management LLC now owns 70,000 shares of the biopharmaceutical company’s stock valued at $2,384,000 after purchasing an additional 20,000 shares during the period. Finally, Alps Advisors Inc. raised its holdings in shares of Insmed by 1.6% during the first quarter. Alps Advisors Inc. now owns 186,428 shares of the biopharmaceutical company’s stock valued at $6,350,000 after purchasing an additional 3,000 shares during the period.

In other Insmed news, CEO William Lewis sold 50,000 shares of the firm’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $36.19, for a total value of $1,809,500.00. Following the sale, the chief executive officer now owns 229,608 shares of the company’s stock, valued at approximately $8,309,513.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.63% of the stock is owned by company insiders.

Several research firms have recently commented on INSM. Zacks Investment Research downgraded shares of Insmed from a “buy” rating to a “hold” rating in a research report on Tuesday, May 11th. Morgan Stanley reduced their price objective on shares of Insmed from $58.00 to $56.00 and set an “overweight” rating for the company in a research report on Monday, May 10th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $51.38.

NASDAQ INSM opened at $29.07 on Friday. Insmed Incorporated has a 1 year low of $23.95 and a 1 year high of $45.44. The company has a quick ratio of 5.52, a current ratio of 6.16 and a debt-to-equity ratio of 1.86. The stock has a market cap of $3.01 billion, a PE ratio of -9.20 and a beta of 2.27. The business has a 50 day moving average price of $29.78.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, May 6th. The biopharmaceutical company reported ($0.89) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.91) by $0.02. Insmed had a negative net margin of 190.36% and a negative return on equity of 103.03%. The firm had revenue of $40.21 million for the quarter, compared to analyst estimates of $41.64 million. During the same quarter in the prior year, the firm earned ($0.74) EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, analysts forecast that Insmed Incorporated will post -3.29 EPS for the current fiscal year.

Insmed Company 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.

Read More: Hold Rating

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Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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