State of New Jersey Common Pension Fund D Buys 4,438 Shares of Insmed Incorporated (NASDAQ:INSM)

State of New Jersey Common Pension Fund D boosted its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,061 shares of the biopharmaceutical company’s stock after buying an additional 4,438 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Insmed were worth $4,423,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. V Square Quantitative Management LLC increased its holdings in shares of Insmed by 60.3% during the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 248 shares in the last quarter. Spire Wealth Management bought a new stake in Insmed during the 4th quarter valued at about $47,000. Exchange Traded Concepts LLC raised its holdings in Insmed by 522.5% in the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 627 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Insmed by 2,348.8% in the third quarter. Blue Trust Inc. now owns 1,959 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 1,879 shares in the last quarter. Finally, JCIC Asset Management Inc. purchased a new stake in shares of Insmed during the third quarter valued at approximately $133,000.

Insiders Place Their Bets

In other Insmed news, CFO Sara Bonstein sold 13,302 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $80.00, for a total transaction of $1,064,160.00. Following the completion of the sale, the chief financial officer now directly owns 142,204 shares of the company’s stock, valued at $11,376,320. This trade represents a 8.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Martina M.D. Flammer sold 3,344 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 102,766 shares in the company, valued at $6,773,307.06. This trade represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 495,135 shares of company stock worth $38,409,713. Corporate insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

INSM has been the topic of several analyst reports. Stifel Nicolaus upped their price objective on Insmed from $88.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. lifted their price objective on Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Truist Financial reissued a “buy” rating and issued a $105.00 target price (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. Guggenheim lifted their price target on shares of Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company increased their price objective on shares of Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.86.

Insmed Stock Performance

INSM opened at $83.83 on Thursday. The firm has a market cap of $15.00 billion, a P/E ratio of -15.10 and a beta of 1.11. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $83.89. The company has a 50 day simple moving average of $73.87 and a two-hundred day simple moving average of $73.45. 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 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.