Public Employees Retirement System of Ohio Takes $6.52 Million Position in Insmed, Inc. $INSM

Public Employees Retirement System of Ohio bought a new position in Insmed, Inc. (NASDAQ:INSM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 61,152 shares of the biopharmaceutical company’s stock, valued at approximately $6,520,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Darwin Global Management Ltd. grew its position in Insmed by 2.3% in the fourth quarter. Darwin Global Management Ltd. now owns 20,933,277 shares of the biopharmaceutical company’s stock worth $3,644,274,000 after buying an additional 475,832 shares during the last quarter. State Street Corp lifted its position in shares of Insmed by 30.6% during the 4th quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock valued at $905,312,000 after acquiring an additional 1,217,390 shares during the last quarter. RTW Investments LP boosted its stake in shares of Insmed by 57.0% during the 4th quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company’s stock worth $842,855,000 after acquiring an additional 1,758,321 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Insmed by 14.4% during the 4th quarter. Geode Capital Management LLC now owns 4,299,052 shares of the biopharmaceutical company’s stock worth $751,936,000 after acquiring an additional 539,625 shares in the last quarter. Finally, Orbis Allan Gray Ltd grew its holdings in shares of Insmed by 28.6% in the 4th quarter. Orbis Allan Gray Ltd now owns 4,179,957 shares of the biopharmaceutical company’s stock worth $727,480,000 after acquiring an additional 929,089 shares during the last quarter.

Insider Transactions at Insmed

In related news, insider Michael Alexander Smith sold 1,806 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $95.82, for a total transaction of $173,050.92. Following the completion of the sale, the insider directly owned 37,648 shares in the company, valued at approximately $3,607,431.36. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Lewis sold 10,699 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $117.40, for a total transaction of $1,256,062.60. Following the transaction, the chief executive officer directly owned 259,058 shares in the company, valued at $30,413,409.20. The trade was a 3.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 273,753 shares of company stock valued at $35,604,764 over the last three months. 2.10% of the stock is owned by corporate insiders.

Insmed Stock Performance

Shares of Insmed stock opened at $121.51 on Wednesday. Insmed, Inc. has a 12 month low of $90.39 and a 12 month high of $212.75. The company has a quick ratio of 3.40, a current ratio of 3.72 and a debt-to-equity ratio of 0.74. The stock has a market cap of $26.54 billion, a PE ratio of -29.56 and a beta of 0.82. The business has a fifty day simple moving average of $114.49 and a 200-day simple moving average of $125.51.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.61. Insmed had a negative return on equity of 123.94% and a negative net margin of 76.94%.The firm had revenue of $425.49 million for the quarter, compared to analyst estimates of $395.50 million. During the same period in the previous year, the firm earned ($1.70) earnings per share. Insmed’s quarterly revenue was up 296.1% on a year-over-year basis. On average, sell-side analysts anticipate that Insmed, Inc. will post -1.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on INSM shares. Truist Financial reaffirmed a “buy” rating and set a $195.00 target price (up from $185.00) on shares of Insmed in a research report on Monday, August 10th. BMO Capital Markets began coverage on Insmed in a research note on Monday, July 20th. They issued an “outperform” rating and a $192.00 price target on the stock. Evercore reissued an “outperform” rating and issued a $170.00 price target on shares of Insmed in a research note on Friday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $235.00 price objective on shares of Insmed in a report on Tuesday, July 28th. Finally, Royal Bank Of Canada decreased their target price on shares of Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $205.52.

About Insmed

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.