Teacher Retirement System of Texas Lowers Stock Position in Insmed, Inc. (NASDAQ:INSM)

Teacher Retirement System of Texas decreased its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,683 shares of the biopharmaceutical company's stock after selling 2,654 shares during the quarter. Teacher Retirement System of Texas' holdings in Insmed were worth $3,485,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. US Bancorp DE grew its position in Insmed by 20.2% during the fourth quarter. US Bancorp DE now owns 9,533 shares of the biopharmaceutical company's stock valued at $658,000 after buying an additional 1,601 shares during the period. Smartleaf Asset Management LLC grew its position in Insmed by 98.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company's stock valued at $57,000 after buying an additional 411 shares during the period. Steward Partners Investment Advisory LLC grew its position in Insmed by 65.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 163 shares during the period. Assetmark Inc. grew its position in Insmed by 1.1% during the fourth quarter. Assetmark Inc. now owns 26,344 shares of the biopharmaceutical company's stock valued at $1,819,000 after buying an additional 291 shares during the period. Finally, Atria Investments Inc grew its position in Insmed by 5.0% during the fourth quarter. Atria Investments Inc now owns 5,232 shares of the biopharmaceutical company's stock valued at $361,000 after buying an additional 247 shares during the period.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada increased their price target on shares of Insmed from $99.00 to $106.00 and gave the company an "outperform" rating in a research report on Wednesday, June 11th. Wells Fargo & Company increased their price target on shares of Insmed from $107.00 to $119.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. The Goldman Sachs Group increased their price target on shares of Insmed from $100.00 to $112.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Leerink Partners increased their target price on shares of Insmed from $100.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Finally, Bank of America increased their target price on shares of Insmed from $94.00 to $109.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. One analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $108.07.

Insmed Price Performance

Shares of INSM stock traded up $1.52 during trading hours on Friday, reaching $98.18. The stock had a trading volume of 3,244,487 shares, compared to its average volume of 2,282,446. The stock's fifty day simple moving average is $83.40 and its 200 day simple moving average is $77.39. The company has a current ratio of 5.86, a quick ratio of 5.44 and a debt-to-equity ratio of 11.38. Insmed, Inc. has a 12 month low of $60.40 and a 12 month high of $106.83. The firm has a market capitalization of $18.63 billion, a PE ratio of -16.50 and a beta of 0.90.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) EPS for the quarter, missing analysts' consensus estimates of ($1.36) by ($0.06). Insmed had a negative net margin of 265.93% and a negative return on equity of 446.98%. The firm had revenue of $92.82 million during the quarter, compared to the consensus estimate of $91.63 million. During the same quarter last year, the business posted ($1.06) earnings per share. Insmed's revenue was up 22.9% compared to the same quarter last year. On average, equities research analysts predict that Insmed, Inc. will post -4.56 EPS for the current year.

Insiders Place Their Bets

In related news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $93.42, for a total value of $9,264,648.24. Following the sale, the insider directly owned 89,407 shares of the company's stock, valued at $8,352,401.94. This trade represents a 52.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael Alexander Smith sold 1,879 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $73.50, for a total transaction of $138,106.50. Following the completion of the sale, the insider directly owned 67,718 shares in the company, valued at $4,977,273. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 546,516 shares of company stock valued at $48,737,083 over the last three months. Corporate insiders own 3.00% of the company's stock.

Insmed Company 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.