18,165 Shares in Insmed, Inc. $INSM Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Insmed, Inc. (NASDAQ:INSM) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,165 shares of the biopharmaceutical company’s stock, valued at approximately $1,828,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of INSM. GAMMA Investing LLC boosted its stake in Insmed by 62.0% in the first quarter. GAMMA Investing LLC now owns 1,009 shares of the biopharmaceutical company’s stock valued at $77,000 after acquiring an additional 386 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Insmed by 16.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,772 shares of the biopharmaceutical company’s stock valued at $288,000 after acquiring an additional 541 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Insmed by 37.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 19,935 shares of the biopharmaceutical company’s stock valued at $1,521,000 after acquiring an additional 5,453 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Insmed by 3.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 438,674 shares of the biopharmaceutical company’s stock valued at $31,585,000 after acquiring an additional 15,580 shares in the last quarter. Finally, KBC Group NV boosted its stake in Insmed by 9.9% in the first quarter. KBC Group NV now owns 7,551 shares of the biopharmaceutical company’s stock valued at $576,000 after acquiring an additional 678 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Jefferies Financial Group upped their price objective on shares of Insmed from $129.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Mizuho upped their price objective on shares of Insmed from $130.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, August 13th. Stifel Nicolaus upped their price objective on shares of Insmed from $121.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. upped their price objective on shares of Insmed from $111.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Finally, TD Cowen increased their target price on shares of Insmed from $154.00 to $193.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Nineteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Insmed currently has an average rating of “Moderate Buy” and an average target price of $152.88.

Insider Activity

In related news, insider Orlov S. Nicole Schaeffer sold 76,520 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $145.45, for a total transaction of $11,129,834.00. Following the completion of the transaction, the insider directly owned 36,461 shares of the company’s stock, valued at $5,303,252.45. This represents a 67.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William Lewis sold 6,865 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $128.40, for a total transaction of $881,466.00. Following the transaction, the chief executive officer directly owned 233,924 shares of the company’s stock, valued at $30,035,841.60. This represents a 2.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 152,657 shares of company stock valued at $21,442,198 over the last ninety days. 3.00% of the stock is currently owned by company insiders.

Insmed Price Performance

Shares of INSM opened at $160.40 on Thursday. Insmed, Inc. has a fifty-two week low of $60.40 and a fifty-two week high of $168.21. The company has a market capitalization of $33.91 billion, a price-to-earnings ratio of -28.09 and a beta of 1.03. The firm has a 50-day simple moving average of $146.10 and a 200-day simple moving average of $106.75. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.33 and a current ratio of 6.68.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.30) by ($0.40). Insmed had a negative return on equity of 195.37% and a negative net margin of 259.82%.The business had revenue of $107.42 million for the quarter, compared to analyst estimates of $104.06 million. During the same quarter last year, the company posted ($1.94) EPS. Insmed’s quarterly revenue was up 18.9% on a year-over-year basis. Insmed has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Insmed, Inc. will post -4.56 earnings per share for the current year.

Insmed 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.