Louisiana State Employees Retirement System Buys Shares of 14,200 Insmed, Inc. $INSM

Louisiana State Employees Retirement System acquired a new stake in Insmed, Inc. (NASDAQ:INSM) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,200 shares of the biopharmaceutical company’s stock, valued at approximately $2,322,000.

Other institutional investors and hedge funds have also modified their holdings of the company. CIBC Private Wealth Group LLC grew its stake in Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 53 shares during the period. Kingsview Wealth Management LLC lifted its stake in shares of Insmed by 2.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 2,321 shares of the biopharmaceutical company’s stock worth $334,000 after purchasing an additional 60 shares during the period. Choreo LLC lifted its stake in shares of Insmed by 2.9% during the 3rd quarter. Choreo LLC now owns 2,319 shares of the biopharmaceutical company’s stock worth $334,000 after purchasing an additional 65 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Insmed by 10.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 747 shares of the biopharmaceutical company’s stock worth $130,000 after purchasing an additional 69 shares during the last quarter. Finally, ORG Partners LLC boosted its holdings in shares of Insmed by 12.7% during the fourth quarter. ORG Partners LLC now owns 657 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 74 shares during the last quarter.

Insider Buying and Selling at Insmed

In other news, CEO William Lewis sold 21,398 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $103.32, for a total value of $2,210,841.36. Following the completion of the sale, the chief executive officer owned 258,917 shares of the company’s stock, valued at $26,751,304.44. This represents a 7.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sara Bonstein sold 2,404 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $245,857.08. Following the completion of the transaction, the chief financial officer directly owned 69,082 shares in the company, valued at approximately $7,065,016.14. This represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 153,349 shares of company stock valued at $22,321,619. 2.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on INSM shares. Jefferies Financial Group assumed coverage on Insmed in a research note on Monday, March 16th. They issued a “buy” rating and a $228.00 target price for the company. Roth Mkm restated a “buy” rating on shares of Insmed in a report on Monday, June 8th. Barclays upped their price objective on shares of Insmed from $231.00 to $237.00 and gave the company an “overweight” rating in a research note on Wednesday, April 1st. Bank of America raised their target price on shares of Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Finally, Leerink Partners boosted their target price on shares of Insmed from $210.00 to $215.00 and gave the company an “outperform” rating in a report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $211.86.

Insmed Stock Performance

Shares of NASDAQ:INSM opened at $104.74 on Tuesday. The business has a 50-day moving average of $112.14 and a two-hundred day moving average of $142.82. The firm has a market capitalization of $22.70 billion, a PE ratio of -18.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. Insmed, Inc. has a 12 month low of $90.39 and a 12 month high of $212.75.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same period in the previous year, the company posted ($1.42) EPS. The company’s revenue was up 229.7% compared to the same quarter last year. As a group, research analysts forecast that Insmed, Inc. will post -2.55 earnings per share for the current year.

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.