VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $1.83 Million Investment in Insmed, Inc. $INSM

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Insmed, Inc. (NASDAQ:INSM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 18,165 shares of the biopharmaceutical company’s stock, valued at approximately $1,828,000.

A number of other institutional investors have also modified their holdings of the stock. M&T Bank Corp raised its stake in shares of Insmed by 4.7% during the 1st quarter. M&T Bank Corp now owns 3,293 shares of the biopharmaceutical company’s stock valued at $252,000 after buying an additional 147 shares during the last quarter. ORG Partners LLC raised its stake in shares of Insmed by 220.2% during the 2nd quarter. ORG Partners LLC now owns 285 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 196 shares during the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Insmed by 164.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 221 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Insmed by 6.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,761 shares of the biopharmaceutical company’s stock valued at $287,000 after buying an additional 228 shares during the last quarter. Finally, Hilltop National Bank purchased a new position in shares of Insmed during the 2nd quarter valued at about $28,000.

Insmed Stock Down 3.0%

Insmed stock opened at $160.40 on Thursday. Insmed, Inc. has a twelve month low of $60.40 and a twelve month high of $168.21. The stock’s fifty day simple moving average is $146.10 and its 200-day simple moving average is $106.75. The company has a current ratio of 6.68, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $33.91 billion, a P/E ratio of -28.09 and a beta of 1.03.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.30) by ($0.40). Insmed had a negative return on equity of 195.37% and a negative net margin of 259.82%.The company had revenue of $107.42 million for the quarter, compared to analysts’ expectations of $104.06 million. During the same period in the prior year, the company posted ($1.94) EPS. The firm’s revenue was up 18.9% compared to the same quarter last year. Insmed has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

INSM has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price objective on Insmed from $121.00 to $196.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Cowen reiterated a “buy” rating on shares of Insmed in a research note on Thursday, October 2nd. JPMorgan Chase & Co. lifted their price target on Insmed from $111.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. William Blair started coverage on Insmed in a report on Wednesday, August 20th. They set an “outperform” rating on the stock. Finally, UBS Group upped their price objective on Insmed from $140.00 to $194.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Nineteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.88.

Insider Buying and Selling at Insmed

In other news, Director Melvin Md Sharoky sold 10,000 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $145.39, for a total transaction of $1,453,900.00. Following the sale, the director owned 262,675 shares of the company’s stock, valued at approximately $38,190,318.25. This represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Alexander Smith sold 24,272 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $143.89, for a total transaction of $3,492,498.08. Following the transaction, the insider owned 54,902 shares of the company’s stock, valued at approximately $7,899,848.78. The trade was a 30.66% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 152,657 shares of company stock valued at $21,442,198. Insiders own 3.00% of the company’s stock.

About Insmed

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.