State Street Corp Buys 228,406 Shares of Insmed, Inc. (NASDAQ:INSM)

State Street Corp lifted its position in Insmed, Inc. (NASDAQ:INSM) by 15.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,728,017 shares of the biopharmaceutical company’s stock after buying an additional 228,406 shares during the quarter. State Street Corp owned about 2.77% of Insmed worth $29,651,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of INSM. Legal & General Group Plc raised its stake in Insmed by 2.0% during the 2nd 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 last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Insmed by 11.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 16,035 shares of the biopharmaceutical company’s stock valued at $275,000 after buying an additional 1,618 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of Insmed by 0.9% in the 2nd 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 last quarter. Voya Investment Management LLC grew its holdings in shares of Insmed by 9.3% in the 2nd 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 last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Insmed by 4.4% in the 2nd quarter. Alliancebernstein L.P. now owns 90,700 shares of the biopharmaceutical company’s stock worth $1,556,000 after purchasing an additional 3,800 shares during the last quarter. Institutional investors and hedge funds own 76.66% of the company’s stock.

In other news, Director Donald J. Hayden, Jr. sold 45,000 shares of Insmed stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $29.67, for a total value of $1,335,150.00. Following the sale, the director now directly owns 71,131 shares in the company, valued at approximately $2,110,456.77. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Donald J. Hayden, Jr. sold 15,000 shares of Insmed stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $32.50, for a total value of $487,500.00. Following the sale, the director now owns 71,131 shares in the company, valued at $2,311,757.50. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock valued at $3,191,150 in the last quarter. 5.10% of the stock is owned by corporate insiders.

A number of analysts recently weighed in on the stock. HC Wainwright reiterated a “buy” rating on shares of Insmed in a research report on Wednesday, August 2nd. Cowen and Company reissued a “buy” rating and issued a $54.00 target price on shares of Insmed in a research note on Friday, November 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $43.00 price objective (up from $27.00) on shares of Insmed in a research report on Wednesday, September 6th. ValuEngine raised shares of Insmed from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Finally, Leerink Swann lifted their target price on 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 company. The company currently has an average rating of “Hold” and a consensus price target of $34.50.

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Insmed, Inc. (NASDAQ INSM) opened at $30.39 on Tuesday. 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, Inc. has a 12-month low of $11.49 and a 12-month high of $32.94.

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).

Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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