California State Teachers Retirement System Raises Position in Insmed Incorporated (INSM)

California State Teachers Retirement System increased its position in Insmed Incorporated (NASDAQ:INSM) by 8.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 118,925 shares of the biopharmaceutical company’s stock after purchasing an additional 9,005 shares during the quarter. California State Teachers Retirement System’s holdings in Insmed were worth $3,712,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in Insmed by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 49,163 shares of the biopharmaceutical company’s stock worth $844,000 after purchasing an additional 197 shares during the period. Legal & General Group Plc lifted its position in Insmed by 2.0% in the second quarter. Legal & General Group Plc now owns 20,173 shares of the biopharmaceutical company’s stock worth $347,000 after purchasing an additional 390 shares during the period. Parametric Portfolio Associates LLC lifted its position in Insmed by 11.2% in the second quarter. Parametric Portfolio Associates LLC now owns 16,035 shares of the biopharmaceutical company’s stock worth $275,000 after purchasing an additional 1,618 shares during the period. TIAA CREF Investment Management LLC lifted its position in Insmed by 0.9% in the second quarter. TIAA CREF Investment Management LLC now owns 213,525 shares of the biopharmaceutical company’s stock worth $3,664,000 after purchasing an additional 1,857 shares during the period. Finally, Voya Investment Management LLC lifted its position in Insmed by 9.3% in the second quarter. Voya Investment Management LLC now owns 27,960 shares of the biopharmaceutical company’s stock worth $480,000 after purchasing an additional 2,389 shares during the period. 95.28% of the stock is owned by hedge funds and other institutional investors.

Insmed Incorporated (NASDAQ:INSM) opened at $29.51 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 15.21 and a current ratio of 15.21. Insmed Incorporated has a 12 month low of $11.49 and a 12 month high of $33.94. The stock has a market capitalization of $2,260.20, a price-to-earnings ratio of -9.49 and a beta of 1.18.

In other Insmed news, Director Donald J. Hayden, Jr. sold 15,000 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $32.50, for a total transaction of $487,500.00. Following the completion of the transaction, the director now directly owns 71,131 shares in the company, valued at $2,311,757.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.10% of the company’s stock.

Several brokerages recently commented on INSM. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 target price on shares of Insmed in a research report on Thursday. Robert W. Baird reaffirmed a “positive” rating and issued a $42.00 target price (up from $32.00) on shares of Insmed in a research report on Thursday. Zacks Investment Research cut Insmed from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. BidaskClub raised Insmed from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Finally, Cowen reaffirmed a “buy” rating and issued a $54.00 target price on shares of Insmed in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $35.75.

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About Insmed

Insmed Incorporated is a biopharmaceutical company. The Company operates through development and commercialization of therapies for patients with rare diseases segment. Its lead product candidate is ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for adult patients with treatment refractory nontuberculous mycobacteria (NTM) lung disease caused by Mycobacterium avium complex (MAC).

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Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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