Insmed, Inc. $INSM Stake Lessened by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Insmed, Inc. by 7.8%, now holding 59,070 shares worth approximately $4.5 million after selling 4,991 shares in the most recent quarter.
• Insider Orlov S. Nicole Schaeffer sold 99,172 shares for over $9.26 million, resulting in a 52.59% decrease in her ownership, while CFO Sara Bonstein also sold 58,400 shares valued at around $6 million.
• Analyst ratings for Insmed have improved, with 15 buy ratings and a target price consensus of $129.57, significantly higher than its current trading price.

State of New Jersey Common Pension Fund D lowered its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 7.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,070 shares of the biopharmaceutical company's stock after selling 4,991 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Insmed were worth $4,506,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. raised its stake in shares of Insmed by 164.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 221 shares in the last quarter. Elequin Capital LP acquired a new stake in shares of Insmed in the 4th quarter valued at about $28,000. NBC Securities Inc. acquired a new stake in shares of Insmed in the 1st quarter valued at about $49,000. Versant Capital Management Inc raised its stake in shares of Insmed by 546.3% in the 1st quarter. Versant Capital Management Inc now owns 698 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 590 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Insmed by 60.0% in the 1st quarter. Signaturefd LLC now owns 867 shares of the biopharmaceutical company's stock valued at $66,000 after purchasing an additional 325 shares in the last quarter.

Insmed Stock Performance

NASDAQ INSM traded down $0.72 on Friday, hitting $131.88. The stock had a trading volume of 2,098,255 shares, compared to its average volume of 3,215,877. Insmed, Inc. has a one year low of $60.40 and a one year high of $133.56. The company has a quick ratio of 6.33, a current ratio of 6.68 and a debt-to-equity ratio of 0.45. The stock has a market cap of $27.88 billion, a price-to-earnings ratio of -23.10 and a beta of 0.95. The company's 50-day moving average is $107.48 and its two-hundred day moving average is $85.66.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on INSM. Leerink Partners upped their target price on shares of Insmed from $100.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, June 10th. The Goldman Sachs Group upped their target price on shares of Insmed from $114.00 to $142.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Citigroup upgraded shares of Insmed to a "buy" rating in a research note on Tuesday, June 10th. UBS Group increased their price objective on shares of Insmed from $124.00 to $133.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Finally, Royal Bank Of Canada increased their price objective on shares of Insmed from $108.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Sixteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Insmed has a consensus rating of "Moderate Buy" and a consensus price target of $132.57.

Insiders Place Their Bets

In other news, CFO Sara Bonstein sold 58,400 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $102.67, for a total value of $5,995,928.00. Following the completion of the transaction, the chief financial officer directly owned 73,505 shares in the company, valued at $7,546,758.35. This trade represents a 44.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Melvin Md Sharoky sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $129.50, for a total transaction of $1,295,000.00. Following the completion of the transaction, the director owned 274,516 shares of the company's stock, valued at $35,549,822. This trade represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 539,694 shares of company stock valued at $53,144,604. 3.00% of the stock is currently owned by insiders.

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.