Maryland State Retirement & Pension System Invests $873,000 in Insmed, Inc. $INSM

Key Points

• The Maryland State Retirement & Pension System invested approximately $873,000 in Insmed, Inc. by acquiring 8,676 shares of the biopharmaceutical company during the second quarter.
• Insider transactions revealed significant stock sales, with COO Roger Adsett selling 25,000 shares for over $3.1 million, reflecting a 19.14% decrease in his ownership.
• Analysts have recently upgraded their price targets for Insmed, with the average target now at $149.06 and a consensus rating of "Moderate Buy."

Maryland State Retirement & Pension System bought a new position in Insmed, Inc. (NASDAQ:INSM - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,676 shares of the biopharmaceutical company's stock, valued at approximately $873,000.

A number of other hedge funds have also bought and sold shares of INSM. Wealth Enhancement Advisory Services LLC grew its stake in Insmed by 10.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,231 shares of the biopharmaceutical company's stock worth $223,000 after purchasing an additional 307 shares in the last quarter. GAMMA Investing LLC grew its stake in Insmed by 62.0% in the first quarter. GAMMA Investing LLC now owns 1,009 shares of the biopharmaceutical company's stock worth $77,000 after purchasing an additional 386 shares in the last quarter. Sowell Financial Services LLC acquired a new position in Insmed in the first quarter worth about $255,000. Avior Wealth Management LLC grew its stake in Insmed by 82.2% in the first quarter. Avior Wealth Management LLC now owns 4,151 shares of the biopharmaceutical company's stock worth $317,000 after purchasing an additional 1,873 shares in the last quarter. Finally, Whalen Wealth Management Inc. acquired a new position in Insmed in the first quarter worth about $217,000.

Insider Activity at Insmed

In other news, COO Roger Adsett sold 25,000 shares of Insmed stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $127.58, for a total transaction of $3,189,500.00. Following the sale, the chief operating officer owned 105,637 shares of the company's stock, valued at approximately $13,477,168.46. The trade was a 19.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael Alexander Smith sold 24,272 shares of Insmed stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $143.89, for a total value of $3,492,498.08. Following the sale, the insider directly owned 54,902 shares in the company, valued at approximately $7,899,848.78. This trade represents a 30.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 218,820 shares of company stock valued at $28,232,955. Company insiders own 3.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on INSM shares. Truist Financial lifted their price target on Insmed from $126.00 to $139.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Mizuho lifted their price target on Insmed from $130.00 to $165.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 13th. Stifel Nicolaus lifted their price target on Insmed from $121.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Evercore ISI reissued an "outperform" rating and issued a $180.00 target price on shares of Insmed in a report on Wednesday, October 1st. Finally, Cowen reissued a "buy" rating on shares of Insmed in a report on Thursday, October 2nd. Nineteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $149.06.

Insmed Stock Performance

INSM opened at $162.33 on Monday. The business's 50 day moving average is $138.08 and its 200-day moving average is $102.16. The stock has a market cap of $34.31 billion, a PE ratio of -28.43 and a beta of 1.03. The company has a current ratio of 6.68, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45. Insmed, Inc. has a twelve month low of $60.40 and a twelve month high of $164.58.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing analysts' consensus estimates of ($1.30) by ($0.40). The business had revenue of $107.42 million for the quarter, compared to the consensus estimate of $104.06 million. Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The business's quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the firm posted ($1.94) EPS. Insmed has set its FY 2025 guidance at EPS. On average, analysts predict that Insmed, Inc. will post -4.56 earnings per share for the current year.

About Insmed

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.

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