California Public Employees Retirement System Has $17.70 Million Stock Position in Insmed Incorporated (NASDAQ:INSM)

California Public Employees Retirement System decreased its position in Insmed Incorporated (NASDAQ:INSM) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 256,355 shares of the biopharmaceutical company’s stock after selling 2,522 shares during the quarter. California Public Employees Retirement System owned 0.14% of Insmed worth $17,699,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Insmed by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock worth $1,257,838,000 after acquiring an additional 1,075,796 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Insmed by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock worth $278,432,000 after purchasing an additional 172,664 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Insmed by 8.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 3,126,339 shares of the biopharmaceutical company’s stock valued at $215,842,000 after acquiring an additional 242,242 shares during the period. William Blair Investment Management LLC boosted its holdings in Insmed by 0.5% in the 4th quarter. William Blair Investment Management LLC now owns 2,433,443 shares of the biopharmaceutical company’s stock valued at $168,005,000 after purchasing an additional 12,535 shares during the period. Finally, Pictet Asset Management Holding SA raised its position in shares of Insmed by 5.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,959,718 shares of the biopharmaceutical company’s stock valued at $135,299,000 after buying an additional 96,377 shares in the last quarter.

Insmed Stock Down 5.7 %

Shares of NASDAQ INSM opened at $69.18 on Friday. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $84.91. The company’s 50 day moving average price is $77.78 and its 200-day moving average price is $73.96. The company has a market capitalization of $12.52 billion, a P/E ratio of -12.38 and a beta of 1.28. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37.

Insmed (NASDAQ:INSM) last released 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 analyst estimates of $102.31 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. Equities analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current year.

Insider Activity

In other Insmed news, insider Martina M.D. Flammer sold 3,344 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total value of $220,403.04. Following the completion of the sale, the insider now owns 102,766 shares of the company’s stock, valued at approximately $6,773,307.06. This trade represents a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sara Bonstein sold 3,470 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $65.70, for a total value of $227,979.00. Following the transaction, the chief financial officer now directly owns 114,736 shares in the company, valued at $7,538,155.20. The trade was a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 532,207 shares of company stock worth $41,683,028 in the last three months. Company insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. UBS Group raised their price objective on Insmed from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Wells Fargo & Company boosted their price target on Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. HC Wainwright reiterated a “buy” rating and set a $90.00 price objective on shares of Insmed in a research note on Friday, February 21st. Royal Bank of Canada restated an “outperform” rating and issued a $100.00 target price on shares of Insmed in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. increased 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. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

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.