New York State Common Retirement Fund Sells 29,520 Shares of Insmed Incorporated (NASDAQ:INSM)

New York State Common Retirement Fund lowered its position in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 9.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 0.20% of Insmed worth $21,373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in INSM. US Bancorp DE boosted its holdings in shares of Insmed by 55.3% during the 3rd quarter. US Bancorp DE now owns 7,932 shares of the biopharmaceutical company's stock valued at $579,000 after acquiring an additional 2,824 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Insmed by 74.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 33,052 shares of the biopharmaceutical company's stock worth $2,413,000 after buying an additional 14,110 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Insmed by 88.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,350 shares of the biopharmaceutical company's stock worth $245,000 after buying an additional 1,572 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Insmed by 29.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,215 shares of the biopharmaceutical company's stock worth $450,000 after buying an additional 1,402 shares during the period. Finally, Mount Yale Investment Advisors LLC acquired a new position in Insmed during the 3rd quarter worth about $259,000.

Insider Buying and Selling

In related news, insider Martina M.D. Flammer sold 13,436 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the sale, the insider now owns 106,134 shares of the company's stock, valued at $7,951,559.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 transaction 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 hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the transaction, the insider now owns 106,134 shares in the company, valued at approximately $7,951,559.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,882 shares of company stock valued at $5,765,446 over the last three months. Corporate insiders own 4.60% of the company's stock.

Insmed Stock Up 1.8 %

INSM traded up $1.21 during trading on Tuesday, reaching $69.30. The stock had a trading volume of 1,399,969 shares, compared to its average volume of 2,270,288. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a one year low of $21.92 and a one year high of $80.53. The business has a 50-day moving average of $72.89 and a 200-day moving average of $62.06.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The business had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. The firm's revenue for the quarter was up 18.1% on a year-over-year basis. During the same period last year, the firm posted ($1.10) EPS. As a group, analysts forecast that Insmed Incorporated will post -5.36 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. TD Cowen lifted their price objective on Insmed from $75.00 to $98.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. StockNews.com lowered Insmed from a "hold" rating to a "sell" rating in a research report on Friday, August 9th. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 target price on shares of Insmed in a research report on Friday. UBS Group boosted their target price on Insmed from $78.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Finally, Morgan Stanley boosted their target price on Insmed from $60.00 to $85.00 and gave the company an "overweight" rating in a research report on Friday, July 12th. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $83.07.

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.