Teacher Retirement System of Texas Purchases 9,471 Shares of Insmed Incorporated (NASDAQ:INSM)

Teacher Retirement System of Texas raised its stake in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 24.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,337 shares of the biopharmaceutical company's stock after buying an additional 9,471 shares during the quarter. Teacher Retirement System of Texas' holdings in Insmed were worth $3,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC grew its stake in Insmed by 65.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 163 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of Insmed by 60.3% during the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 248 shares during the last quarter. Spire Wealth Management purchased a new position in shares of Insmed during the fourth quarter valued at about $47,000. Smartleaf Asset Management LLC grew its position in shares of Insmed by 98.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company's stock valued at $57,000 after purchasing an additional 411 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in shares of Insmed in the fourth quarter worth about $86,000.

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Insiders Place Their Bets

In related news, CEO William Lewis sold 2,978 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $63.36, for a total value of $188,686.08. Following the transaction, the chief executive officer now owns 392,589 shares of the company's stock, valued at $24,874,439.04. This represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Martina M.D. Flammer sold 33,055 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total value of $2,674,149.50. Following the transaction, the insider now owns 138,053 shares in the company, valued at $11,168,487.70. The trade was a 19.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 550,957 shares of company stock worth $42,992,528 in the last three months. Corporate insiders own 4.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Cantor Fitzgerald restated an "overweight" rating on shares of Insmed in a report on Wednesday, February 19th. JPMorgan Chase & Co. boosted their price target on shares of Insmed from $83.00 to $92.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Morgan Stanley increased their price objective on shares of Insmed from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Guggenheim reissued a "buy" rating and issued a $101.00 price objective on shares of Insmed in a research note on Tuesday, February 25th. Finally, UBS Group upped their target price on shares of Insmed from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to MarketBeat, Insmed has a consensus rating of "Moderate Buy" and a consensus price target of $94.00.

Insmed Trading Up 0.4 %

INSM traded up $0.30 during trading hours on Friday, reaching $77.99. 950,343 shares of the company's stock traded hands, compared to its average volume of 2,230,931. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The firm has a 50-day moving average price of $78.18 and a 200 day moving average price of $73.99. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $84.91. The firm has a market capitalization of $14.12 billion, a PE ratio of -13.95 and a beta of 1.28.

Insmed (NASDAQ:INSM - Get Free Report) last issued its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.15). The company had revenue of $104.44 million for the quarter, compared to analysts' expectations of $102.31 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. As a group, sell-side analysts predict that Insmed Incorporated will post -4.56 EPS for the current fiscal year.

Insmed Company 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.