Strs Ohio Reduces Stock Holdings in Insmed Incorporated (NASDAQ:INSM)

Strs Ohio lowered its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 53.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,000 shares of the biopharmaceutical company’s stock after selling 12,700 shares during the quarter. Strs Ohio’s holdings in Insmed were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of Insmed in the 4th quarter valued at $25,000. China Universal Asset Management Co. Ltd. grew its position in shares of Insmed by 106.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,698 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 1,910 shares during the last quarter. Assetmark Inc. grew its position in shares of Insmed by 10.7% in the 3rd quarter. Assetmark Inc. now owns 4,799 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 463 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Insmed in the 3rd quarter valued at $208,000. Finally, Beacon Financial Advisory LLC acquired a new stake in Insmed during the 3rd quarter worth $254,000.

Insmed Trading Up 0.8 %

INSM stock opened at $25.00 on Tuesday. The company has a market cap of $3.71 billion, a P/E ratio of -4.68 and a beta of 0.92. Insmed Incorporated has a 52 week low of $18.08 and a 52 week high of $32.00. The company’s 50-day moving average price is $26.98 and its 200 day moving average price is $27.06.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.15). The company had revenue of $83.70 million for the quarter, compared to analysts’ expectations of $82.15 million. The company’s quarterly revenue was up 41.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.20) earnings per share. On average, equities research analysts expect that Insmed Incorporated will post -4.65 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on INSM. StockNews.com upgraded shares of Insmed from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Guggenheim increased their price target on shares of Insmed from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Truist Financial initiated coverage on shares of Insmed in a research note on Tuesday, April 23rd. They set a “buy” rating and a $48.00 price target for the company. Wolfe Research initiated coverage on shares of Insmed in a research note on Thursday, February 15th. They issued an “outperform” rating and a $42.00 target price for the company. Finally, UBS Group initiated coverage on shares of Insmed in a research note on Tuesday, February 27th. They issued a “buy” rating and a $46.00 target price for the company. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Insmed presently has an average rating of “Moderate Buy” and a consensus price target of $44.92.

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.