Insmed, Inc. $INSM Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its position in shares of Insmed, Inc. (NASDAQ:INSM) by 2.3% in the first quarter, Holdings Channel.com reports. The fund owned 303,182 shares of the biopharmaceutical company’s stock after selling 7,148 shares during the quarter. California State Teachers Retirement System’s holdings in Insmed were worth $49,576,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Insmed by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company’s stock valued at $3,668,127,000 after purchasing an additional 1,140,524 shares in the last quarter. Darwin Global Management Ltd. increased its position in Insmed by 2.3% during the 4th quarter. Darwin Global Management Ltd. now owns 20,933,277 shares of the biopharmaceutical company’s stock worth $3,644,274,000 after purchasing an additional 475,832 shares in the last quarter. State Street Corp increased its position in Insmed by 30.6% during the 4th quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock worth $905,312,000 after purchasing an additional 1,217,390 shares in the last quarter. RTW Investments LP raised its holdings in Insmed by 57.0% in the fourth quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company’s stock valued at $842,855,000 after buying an additional 1,758,321 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Insmed by 14.4% in the fourth quarter. Geode Capital Management LLC now owns 4,299,052 shares of the biopharmaceutical company’s stock valued at $751,936,000 after buying an additional 539,625 shares during the period.

Insider Activity

In other Insmed news, CEO William Lewis sold 21,398 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $103.32, for a total value of $2,210,841.36. Following the completion of the transaction, the chief executive officer directly owned 258,917 shares of the company’s stock, valued at $26,751,304.44. This represents a 7.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 2,370 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $242,379.90. Following the completion of the transaction, the chief operating officer directly owned 98,603 shares of the company’s stock, valued at approximately $10,084,128.81. The trade was a 2.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 54,590 shares of company stock worth $5,793,738. 2.10% of the stock is owned by corporate insiders.

Insmed Trading Down 1.6%

INSM opened at $101.49 on Friday. The firm’s 50 day moving average is $104.83 and its 200-day moving average is $131.25. Insmed, Inc. has a 52-week low of $90.39 and a 52-week high of $212.75. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $22.00 billion, a P/E ratio of -17.65 and a beta of 0.78.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.14. The business had revenue of $305.96 million during the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business’s quarterly revenue was up 229.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.42) earnings per share. Analysts expect that Insmed, Inc. will post -2.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on INSM shares. Guggenheim reiterated a “buy” rating and set a $207.00 price objective on shares of Insmed in a research note on Friday, July 10th. BMO Capital Markets assumed coverage on shares of Insmed in a report on Monday, July 20th. They set an “outperform” rating and a $192.00 target price on the stock. Wells Fargo & Company upped their price target on shares of Insmed from $160.00 to $161.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $235.00 price target on shares of Insmed in a report on Tuesday. Finally, Mizuho set a $192.00 price objective on Insmed in a research note on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $209.35.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.