Strs Ohio Purchases Shares of 25,700 Insmed, Inc. $INSM

Key Points

• Strs Ohio acquired 25,700 shares of Insmed, Inc. (NASDAQ: INSM), valued at approximately $1.96 million, during the first quarter of the year.
• Insmed reported a net loss of ($1.70) earnings per share for the last quarter, missing estimates by ($0.40), despite revenue increasing by 18.9% compared to the prior year.
• Insider sales included COO Roger Adsett selling 25,000 shares for roughly $3.19 million, reflecting a 19.14% decrease in their stake, highlighting significant insider activity.

Strs Ohio bought a new stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 25,700 shares of the biopharmaceutical company's stock, valued at approximately $1,961,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky acquired a new position in Insmed in the 1st quarter valued at approximately $975,000. OneDigital Investment Advisors LLC boosted its position in shares of Insmed by 47.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 5,226 shares of the biopharmaceutical company's stock valued at $399,000 after acquiring an additional 1,673 shares in the last quarter. Sowell Financial Services LLC bought a new stake in Insmed in the first quarter valued at about $255,000. Caxton Associates LLP bought a new stake in Insmed in the first quarter valued at about $441,000. Finally, GAMMA Investing LLC raised its position 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.

Wall Street Analyst Weigh In

INSM has been the subject of a number of recent research reports. Guggenheim increased their target price on Insmed from $125.00 to $172.00 and gave the stock a "buy" rating in a report on Monday, September 8th. The Goldman Sachs Group raised their price target on Insmed from $114.00 to $142.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Bank of America lifted their target price on Insmed from $94.00 to $109.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Truist Financial lifted their price target on Insmed from $126.00 to $139.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. lifted their target price on Insmed from $111.00 to $135.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Sixteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $139.86.

Insmed Stock Performance

Shares of NASDAQ:INSM traded down $1.10 during trading on Friday, reaching $144.76. 5,624,066 shares of the stock were exchanged, compared to its average volume of 1,971,056. Insmed, Inc. has a 12 month low of $60.40 and a 12 month high of $149.08. The firm has a market cap of $30.60 billion, a PE ratio of -25.35 and a beta of 0.97. The stock has a 50-day moving average price of $124.17 and a 200-day moving average price of $94.19. 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 (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.30) by ($0.40). The company had revenue of $107.42 million during 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 company's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the firm posted ($1.94) earnings per share. Insmed has set its FY 2025 guidance at EPS. Research analysts expect that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Melvin Md Sharoky sold 10,000 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $145.39, for a total value of $1,453,900.00. Following the completion of the sale, the director directly owned 262,675 shares in the company, valued at approximately $38,190,318.25. The trade was a 3.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Roger Adsett sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $127.58, for a total transaction of $3,189,500.00. Following the transaction, the chief operating officer owned 105,637 shares of the company's stock, valued at approximately $13,477,168.46. This represents a 19.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 335,097 shares of company stock valued at $39,721,648 in the last quarter. Company insiders own 3.00% of the company's stock.

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.