State of New Jersey Common Pension Fund D Sells 8,005 Shares of Insmed Incorporated (NASDAQ:INSM)

State of New Jersey Common Pension Fund D lowered its stake in Insmed Incorporated (NASDAQ:INSM) by 7.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,147 shares of the biopharmaceutical company’s stock after selling 8,005 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.07% of Insmed worth $3,259,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Walleye Capital LLC bought a new position in shares of Insmed in the third quarter worth about $1,820,000. Graham Capital Management L.P. raised its stake in shares of Insmed by 352.5% in the third quarter. Graham Capital Management L.P. now owns 43,605 shares of the biopharmaceutical company’s stock worth $1,101,000 after buying an additional 33,969 shares during the period. 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 worth $362,224,000 after buying an additional 1,024,956 shares during the period. 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 worth $7,449,000 after buying an additional 265,457 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Insmed by 8.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,099,807 shares of the biopharmaceutical company’s stock worth $27,770,000 after buying an additional 88,589 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on INSM shares. UBS Group started coverage on Insmed in a research report on Tuesday, February 27th. They set a “buy” rating and a $46.00 target price for the company. StockNews.com upgraded Insmed from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Barclays increased their target price on Insmed from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Truist Financial started coverage on Insmed in a research report on Tuesday. They set a “buy” rating and a $48.00 target price for the company. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $55.00 target price on shares of Insmed in a research report on Monday, April 1st. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Insmed presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.92.

Insmed Stock Performance

NASDAQ INSM opened at $24.80 on Friday. The business has a 50 day simple moving average of $27.07 and a two-hundred day simple moving average of $27.03. Insmed Incorporated has a 1-year low of $18.08 and a 1-year high of $32.00.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share 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 analyst estimates of $82.15 million. Insmed’s quarterly revenue was up 41.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.20) EPS. As a group, equities analysts anticipate that Insmed Incorporated will post -4.65 EPS for the current year.

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.