New York State Common Retirement Fund grew its holdings in Insmed Incorporated (NASDAQ:INSM) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,100 shares of the biopharmaceutical company’s stock after purchasing an additional 3,300 shares during the quarter. New York State Common Retirement Fund owned approximately 0.11% of Insmed worth $1,849,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in INSM. Alps Advisors Inc. boosted its position in Insmed by 21.1% during the first quarter. Alps Advisors Inc. now owns 102,752 shares of the biopharmaceutical company’s stock worth $2,314,000 after acquiring an additional 17,881 shares during the last quarter. Sectoral Asset Management Inc boosted its position in Insmed by 44.6% during the fourth quarter. Sectoral Asset Management Inc now owns 90,199 shares of the biopharmaceutical company’s stock worth $2,812,000 after acquiring an additional 27,800 shares during the last quarter. State of Wisconsin Investment Board boosted its position in Insmed by 61.3% during the fourth quarter. State of Wisconsin Investment Board now owns 74,200 shares of the biopharmaceutical company’s stock worth $2,314,000 after acquiring an additional 28,200 shares during the last quarter. Bellevue Group AG acquired a new stake in Insmed during the first quarter worth approximately $7,533,000. Finally, MetLife Investment Advisors LLC acquired a new stake in Insmed during the fourth quarter worth approximately $1,044,000.
In other Insmed news, insider Orlov S. Nicole Schaeffer sold 25,991 shares of the stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $28.24, for a total transaction of $733,985.84. Following the transaction, the insider now owns 22,253 shares of the company’s stock, valued at $628,424.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.88% of the company’s stock.
Insmed opened at $25.24 on Wednesday, MarketBeat.com reports. The company has a current ratio of 20.01, a quick ratio of 20.01 and a debt-to-equity ratio of 0.70. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -8.73 and a beta of 0.99. Insmed Incorporated has a fifty-two week low of $11.49 and a fifty-two week high of $33.94.
Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Wednesday, May 2nd. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.96) by $0.07. equities analysts predict that Insmed Incorporated will post -4.15 earnings per share for the current fiscal year.
A number of analysts recently issued reports on INSM shares. Zacks Investment Research lowered shares of Insmed from a “hold” rating to a “sell” rating in a research report on Wednesday, February 28th. BidaskClub upgraded shares of Insmed from a “sell” rating to a “hold” rating in a research report on Saturday, March 10th. Morgan Stanley started coverage on shares of Insmed in a research report on Wednesday, March 21st. They set an “overweight” rating and a $39.00 target price on the stock. ValuEngine upgraded shares of Insmed from a “hold” rating to a “buy” rating in a research report on Monday, April 9th. Finally, Credit Suisse Group upgraded shares of Insmed from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $27.00 to $31.00 in a research report on Monday, April 23rd. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $39.11.
Insmed Incorporated, a biopharmaceutical company, focuses on the development and commercialization of therapies for patients with rare diseases. The company's lead product candidate is amikacin liposome inhalation suspension, which is in late-state development for adult patients with treatment refractory nontuberculous mycobacteria lung disease caused by mycobacterium avium complex.
Want to see what other hedge funds are holding INSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Insmed Incorporated (NASDAQ:INSM).
Receive News & Ratings for Insmed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insmed and related companies with MarketBeat.com's FREE daily email newsletter.