Insmed Incorporated (NASDAQ:INSM) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its position in shares of Insmed Incorporated (NASDAQ:INSM) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 292,779 shares of the biopharmaceutical company’s stock after selling 29,520 shares during the period. New York State Common Retirement Fund owned approximately 0.20% of Insmed worth $21,373,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Darwin Global Management Ltd. purchased a new position in Insmed in the 2nd quarter valued at about $237,076,000. Capital International Investors bought a new position in shares of Insmed during the first quarter worth about $43,973,000. Clearbridge Investments LLC bought a new position in shares of Insmed during the first quarter worth about $25,242,000. Fiera Capital Corp bought a new position in shares of Insmed during the second quarter worth about $40,570,000. Finally, Farallon Capital Management LLC bought a new position in shares of Insmed during the second quarter worth about $38,056,000.

Insmed Trading Down 0.3 %

Insmed stock opened at $68.09 on Tuesday. The company has a 50 day moving average price of $72.89 and a 200 day moving average price of $62.06. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $80.53. The company has a debt-to-equity ratio of 25.05, a quick ratio of 2.53 and a current ratio of 2.71. The firm has a market capitalization of $11.70 billion, a price-to-earnings ratio of -12.27 and a beta of 1.12.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The company had revenue of $93.40 million for the quarter, compared to analysts’ expectations of $93.36 million. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period last year, the company earned ($1.10) earnings per share. Research analysts forecast that Insmed Incorporated will post -5.42 EPS for the current year.

Analyst Upgrades and Downgrades

INSM has been the topic of a number of recent research reports. UBS Group raised their target price on shares of Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. raised their target price on shares of Insmed from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. TD Cowen raised their target price on shares of Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Bank of America raised their target price on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, StockNews.com lowered shares of Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Insmed presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.07.

Insider Buying and Selling at Insmed

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the transaction, the insider now owns 100,100 shares in the company, valued at approximately $7,157,150. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Michael Alexander Smith sold 27,871 shares of Insmed stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the transaction, the insider now owns 67,856 shares in the company, valued at $5,045,093.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the sale, the insider now owns 100,100 shares in the company, valued at $7,157,150. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock valued at $5,765,446 in the last quarter. Company insiders own 4.60% 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.