State of New Jersey Common Pension Fund D Acquires 4,438 Shares of Insmed Incorporated (NASDAQ:INSM)

State of New Jersey Common Pension Fund D grew its holdings in Insmed Incorporated (NASDAQ:INSM) by 7.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 64,061 shares of the biopharmaceutical company’s stock after acquiring an additional 4,438 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Insmed were worth $4,423,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. V Square Quantitative Management LLC increased its stake in Insmed by 60.3% during the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 248 shares during the last quarter. Spire Wealth Management purchased a new position in shares of Insmed in the 4th quarter worth approximately $47,000. Exchange Traded Concepts LLC increased its position in shares of Insmed by 522.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 627 shares during the last quarter. Blue Trust Inc. raised its holdings in Insmed by 2,348.8% during the 3rd quarter. Blue Trust Inc. now owns 1,959 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 1,879 shares during the period. Finally, JCIC Asset Management Inc. bought a new stake in Insmed in the third quarter worth $133,000.

Insmed Stock Up 3.0 %

Shares of Insmed stock opened at $83.83 on Thursday. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $83.89. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The stock has a market cap of $15.00 billion, a price-to-earnings ratio of -15.10 and a beta of 1.11. The firm’s 50-day moving average is $73.87 and its two-hundred day moving average is $73.45.

Insider Activity

In other Insmed news, insider Martina M.D. Flammer sold 3,344 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total transaction of $220,403.04. Following the completion of the sale, the insider now owns 102,766 shares in the company, valued at $6,773,307.06. This represents a 3.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total value of $1,309,500.00. Following the completion of the transaction, the chief executive officer now owns 384,960 shares in the company, valued at $26,885,606.40. This represents a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 495,135 shares of company stock worth $38,409,713. Corporate insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Truist Financial reiterated a “buy” rating and set a $105.00 price objective (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. Morgan Stanley boosted their target price on Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Wells Fargo & Company increased their price target on Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a report on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Insmed in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.86.

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.