Public Employees Retirement System of Ohio Invests $6.52 Million in Insmed, Inc. $INSM

Public Employees Retirement System of Ohio purchased a new stake in shares of Insmed, Inc. (NASDAQ:INSM) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 61,152 shares of the biopharmaceutical company’s stock, valued at approximately $6,520,000.

Other large investors have also made changes to their positions in the company. CIBC Private Wealth Group LLC increased its holdings in Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 53 shares during the last quarter. Reflection Asset Management acquired a new stake in Insmed in the fourth quarter valued at approximately $30,000. Raiffeisen Bank International AG acquired a new stake in Insmed in the fourth quarter valued at approximately $32,000. Larson Financial Group LLC grew its position in Insmed by 137.0% in the fourth quarter. Larson Financial Group LLC now owns 256 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 148 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Insmed in the fourth quarter worth approximately $49,000.

Insiders Place Their Bets

In other news, COO Roger Adsett sold 239,850 shares of Insmed stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $133.27, for a total value of $31,964,809.50. Following the transaction, the chief operating officer directly owned 98,744 shares in the company, valued at approximately $13,159,612.88. The trade was a 70.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William Lewis sold 21,398 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $103.32, for a total value of $2,210,841.36. Following the transaction, the chief executive officer directly owned 258,917 shares of the company’s stock, valued at $26,751,304.44. This represents a 7.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 273,753 shares of company stock valued at $35,604,764 in the last quarter. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Roth Capital restated a “buy” rating on shares of Insmed in a report on Monday, June 8th. Mizuho set a $192.00 price objective on shares of Insmed in a report on Tuesday, June 16th. Wells Fargo & Company increased their target price on shares of Insmed from $161.00 to $169.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Truist Financial restated a “buy” rating and set a $195.00 target price (up from $185.00) on shares of Insmed in a report on Monday, August 10th. Finally, UBS Group reaffirmed a “buy” rating and issued a $172.00 price target on shares of Insmed in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $205.52.

Insmed Price Performance

Shares of Insmed stock opened at $121.51 on Wednesday. The firm has a fifty day simple moving average of $114.49 and a 200-day simple moving average of $125.51. The company has a current ratio of 3.72, a quick ratio of 3.40 and a debt-to-equity ratio of 0.74. Insmed, Inc. has a 1-year low of $90.39 and a 1-year high of $212.75. The stock has a market capitalization of $26.54 billion, a price-to-earnings ratio of -29.56 and a beta of 0.82.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.67) by $0.61. Insmed had a negative net margin of 76.94% and a negative return on equity of 123.94%. The business had revenue of $425.49 million during the quarter, compared to the consensus estimate of $395.50 million. During the same period in the prior year, the firm earned ($1.70) EPS. Insmed’s quarterly revenue was up 296.1% compared to the same quarter last year. On average, sell-side analysts expect that Insmed, Inc. will post -1.83 earnings per share for the current year.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.