California State Teachers Retirement System Reduces Stake in Insmed, Inc. (INSM)

California State Teachers Retirement System lowered its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 109,920 shares of the biopharmaceutical company’s stock after selling 12,028 shares during the period. California State Teachers Retirement System owned approximately 0.18% of Insmed worth $1,886,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Insmed by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 49,163 shares of the biopharmaceutical company’s stock valued at $844,000 after purchasing an additional 197 shares during the period. Legal & General Group Plc raised its holdings in shares of Insmed by 2.0% during the second quarter. Legal & General Group Plc now owns 20,173 shares of the biopharmaceutical company’s stock valued at $347,000 after purchasing an additional 390 shares during the period. Parametric Portfolio Associates LLC raised its holdings in shares of Insmed by 11.2% during the second quarter. Parametric Portfolio Associates LLC now owns 16,035 shares of the biopharmaceutical company’s stock valued at $275,000 after purchasing an additional 1,618 shares during the period. TIAA CREF Investment Management LLC raised its holdings in shares of Insmed by 0.9% during the second quarter. TIAA CREF Investment Management LLC now owns 213,525 shares of the biopharmaceutical company’s stock valued at $3,664,000 after purchasing an additional 1,857 shares during the period. Finally, Voya Investment Management LLC raised its holdings in shares of Insmed by 9.3% during the second quarter. Voya Investment Management LLC now owns 27,960 shares of the biopharmaceutical company’s stock valued at $480,000 after purchasing an additional 2,389 shares during the period. Hedge funds and other institutional investors own 74.26% of the company’s stock.

In other Insmed news, Director Melvin Md Sharoky sold 50,000 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $27.37, for a total value of $1,368,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donald J. Hayden, Jr. sold 45,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $29.67, for a total transaction of $1,335,150.00. Following the completion of the sale, the director now owns 71,131 shares of the company’s stock, valued at approximately $2,110,456.77. The disclosure for this sale can be found here. Company insiders own 4.03% of the company’s stock.

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A number of equities research analysts recently weighed in on INSM shares. HC Wainwright restated a “buy” rating on shares of Insmed in a report on Wednesday, August 2nd. ValuEngine lowered shares of Insmed from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. BidaskClub lowered shares of Insmed from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Evercore ISI started coverage on shares of Insmed in a report on Wednesday, August 16th. They issued an “outperform” rating and a $28.00 target price on the stock. Finally, Leerink Swann upped their target price on shares of Insmed from $27.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $34.50.

Shares of Insmed, Inc. (INSM) opened at $31.34 on Thursday. The company has a current ratio of 15.21, a quick ratio of 15.21 and a debt-to-equity ratio of 0.13. Insmed, Inc. has a fifty-two week low of $11.49 and a fifty-two week high of $32.94.

Insmed Company Profile

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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