12,775 Shares in Insmed, Inc. (NASDAQ:INSM) Bought by Teachers Retirement System of The State of Kentucky

Key Points

• The Teachers Retirement System of The State of Kentucky has acquired a new stake in Insmed, Inc., purchasing 12,775 shares valued at approximately $975,000.
• Insider trades at Insmed have seen significant activity, with CFO Sara Bonstein selling 58,400 shares for nearly $6 million and CEO William Lewis selling 6,830 shares worth about $700,000.
• Several research analysts have recently upgraded their ratings on Insmed, with price targets adjusted upwards, indicating a general consensus of a Moderate Buy with an average target price of $109.20.

Teachers Retirement System of The State of Kentucky bought a new position in Insmed, Inc. (NASDAQ:INSM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 12,775 shares of the biopharmaceutical company's stock, valued at approximately $975,000.

Several other large investors have also added to or reduced their stakes in INSM. KLP Kapitalforvaltning AS bought a new position in Insmed in the 4th quarter worth about $2,278,000. LPL Financial LLC increased its holdings in shares of Insmed by 10.7% in the fourth quarter. LPL Financial LLC now owns 32,757 shares of the biopharmaceutical company's stock worth $2,262,000 after purchasing an additional 3,172 shares during the period. Vanguard Group Inc. increased its holdings in shares of Insmed by 6.3% in the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company's stock worth $1,257,838,000 after purchasing an additional 1,075,796 shares during the period. Corebridge Financial Inc. increased its holdings in shares of Insmed by 2.0% in the fourth quarter. Corebridge Financial Inc. now owns 85,719 shares of the biopharmaceutical company's stock worth $5,918,000 after purchasing an additional 1,685 shares during the period. Finally, Prudential Financial Inc. increased its holdings in shares of Insmed by 9.0% in the fourth quarter. Prudential Financial Inc. now owns 146,722 shares of the biopharmaceutical company's stock worth $10,130,000 after purchasing an additional 12,132 shares during the period.

Insmed Price Performance

Shares of NASDAQ INSM traded up $1.66 during trading hours on Tuesday, reaching $103.41. 325,061 shares of the stock traded hands, compared to its average volume of 2,743,064. The company has a quick ratio of 5.44, a current ratio of 5.86 and a debt-to-equity ratio of 11.38. The company's 50-day simple moving average is $91.25 and its two-hundred day simple moving average is $80.16. The company has a market capitalization of $19.62 billion, a P/E ratio of -17.41 and a beta of 0.90. Insmed, Inc. has a 52-week low of $60.40 and a 52-week high of $106.83.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on INSM. Wells Fargo & Company lifted their price target on Insmed from $119.00 to $130.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Citigroup upgraded Insmed to a "buy" rating in a research report on Tuesday, June 10th. Bank of America lifted their price target on Insmed from $94.00 to $109.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. UBS Group dropped their price target on Insmed from $110.00 to $109.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Morgan Stanley lifted their price target on Insmed from $102.00 to $108.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, Insmed has an average rating of "Moderate Buy" and an average target price of $109.20.

Insider Buying and Selling

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of Insmed stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total value of $9,264,648.24. Following the transaction, the insider directly owned 89,407 shares of the company's stock, valued at $8,352,401.94. The trade was a 52.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sara Bonstein sold 58,400 shares of Insmed stock in a transaction that occurred on Monday, July 21st. The stock was 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 disclosure for this sale can be found here. Insiders sold 606,597 shares of company stock valued at $55,120,762 over 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.