Teacher Retirement System of Texas Decreases Position in Insmed, Inc. $INSM

Key Points

• Teacher Retirement System of Texas cut its stake in Insmed by 28.8% in Q4, selling 13,418 shares and retaining 33,219 shares worth about $5.78 million.
• Company insiders have been heavy sellers recently — the COO sold 88,060 shares and the CEO sold 13,396 shares, with insiders offloading 179,777 shares (≈$28.25M) over the past 90 days, leaving insiders owning 2.10%.
• Despite a quarterly EPS miss and negative margins, analysts remain largely bullish with an average rating of Buy and a consensus price target of $213.23.

Teacher Retirement System of Texas lessened its stake in Insmed, Inc. (NASDAQ:INSM - Free Report) by 28.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,219 shares of the biopharmaceutical company's stock after selling 13,418 shares during the quarter. Teacher Retirement System of Texas' holdings in Insmed were worth $5,781,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of INSM. CIBC Private Wealth Group LLC grew its holdings in Insmed by 42.1% during the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 53 shares during the period. Kingsview Wealth Management LLC raised its stake in shares of Insmed by 2.7% in the third quarter. Kingsview Wealth Management LLC now owns 2,321 shares of the biopharmaceutical company's stock valued at $334,000 after buying an additional 60 shares during the period. Choreo LLC lifted its position in shares of Insmed by 2.9% during the 3rd quarter. Choreo LLC now owns 2,319 shares of the biopharmaceutical company's stock valued at $334,000 after buying an additional 65 shares during the last quarter. ORG Partners LLC lifted its position in shares of Insmed by 12.7% during the 4th quarter. ORG Partners LLC now owns 657 shares of the biopharmaceutical company's stock valued at $114,000 after buying an additional 74 shares during the last quarter. Finally, Spire Wealth Management grew its stake in shares of Insmed by 11.5% during the 3rd quarter. Spire Wealth Management now owns 777 shares of the biopharmaceutical company's stock worth $112,000 after acquiring an additional 80 shares during the period.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INSM. Truist Financial set a $205.00 price objective on Insmed in a report on Monday, January 12th. Mizuho upped their price objective on shares of Insmed from $204.00 to $206.00 and gave the company an "outperform" rating in a report on Wednesday, March 25th. Barclays increased their target price on shares of Insmed from $231.00 to $237.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 1st. Raymond James Financial assumed coverage on shares of Insmed in a research report on Friday, April 10th. They issued an "outperform" rating and a $200.00 price target on the stock. Finally, Roth Mkm restated a "buy" rating and set a $212.00 price target on shares of Insmed in a research note on Friday, April 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $213.23.

Insider Activity at Insmed

In other Insmed news, COO Roger Adsett sold 88,060 shares of the firm's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total value of $14,497,317.80. Following the completion of the transaction, the chief operating officer directly owned 106,810 shares of the company's stock, valued at $17,584,130.30. This trade represents a 45.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Lewis sold 13,396 shares of the business's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $147.79, for a total transaction of $1,979,794.84. Following the transaction, the chief executive officer owned 301,185 shares of the company's stock, valued at $44,512,131.15. This trade represents a 4.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 179,777 shares of company stock valued at $28,252,720. Corporate insiders own 2.10% of the company's stock.

Insmed Price Performance

Shares of NASDAQ INSM opened at $135.17 on Monday. Insmed, Inc. has a 52 week low of $63.81 and a 52 week high of $212.75. The business has a 50-day simple moving average of $149.27 and a two-hundred day simple moving average of $167.01. The company has a quick ratio of 3.54, a current ratio of 3.83 and a debt-to-equity ratio of 0.76. The company has a market cap of $29.18 billion, a P/E ratio of -21.09 and a beta of 1.10.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.47). Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The company had revenue of $263.84 million for the quarter, compared to the consensus estimate of $263.97 million. During the same quarter in the prior year, the company earned ($1.32) earnings per share. The company's quarterly revenue was up 152.6% on a year-over-year basis. Research analysts anticipate that Insmed, Inc. will post -2.51 earnings per share for the current fiscal year.

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.

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