Insmed Incorporated (NASDAQ:INSM) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its stake in Insmed Incorporated (NASDAQ:INSM) by 7.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,147 shares of the biopharmaceutical company’s stock after selling 8,005 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Insmed were worth $3,259,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of INSM. Vanguard Group Inc. raised its stake in shares of Insmed by 7.7% in the third quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company’s stock valued at $362,224,000 after acquiring an additional 1,024,956 shares in the last quarter. RTW Investments LP raised its stake in shares of Insmed by 86.5% in the third quarter. RTW Investments LP now owns 1,865,108 shares of the biopharmaceutical company’s stock valued at $47,094,000 after acquiring an additional 865,108 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Insmed by 47.7% in the third quarter. Loomis Sayles & Co. L P now owns 2,383,039 shares of the biopharmaceutical company’s stock valued at $60,172,000 after acquiring an additional 769,443 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Insmed in the third quarter valued at $15,150,000. Finally, Trexquant Investment LP raised its stake in shares of Insmed by 898.8% in the third quarter. Trexquant Investment LP now owns 294,993 shares of the biopharmaceutical company’s stock valued at $7,449,000 after acquiring an additional 265,457 shares in the last quarter.

Insmed Stock Down 0.5 %

Shares of INSM stock opened at $24.80 on Friday. The stock’s 50-day moving average is $27.07 and its two-hundred day moving average is $27.03. Insmed Incorporated has a 1 year low of $18.08 and a 1 year high of $32.00.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.15). The business had revenue of $83.70 million during the quarter, compared to the consensus estimate of $82.15 million. During the same quarter last year, the firm posted ($1.20) earnings per share. The business’s revenue was up 41.1% on a year-over-year basis. Research analysts forecast that Insmed Incorporated will post -4.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INSM has been the topic of several analyst reports. Truist Financial initiated coverage on Insmed in a research note on Tuesday. They issued a “buy” rating and a $48.00 price objective on the stock. Guggenheim raised their price target on Insmed from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. StockNews.com upgraded Insmed from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Wells Fargo & Company restated an “overweight” rating and issued a $55.00 price target on shares of Insmed in a research note on Monday, April 1st. Finally, Wolfe Research started coverage on Insmed in a research note on Thursday, February 15th. They issued an “outperform” rating and a $42.00 price target on the stock. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.92.

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.