Teacher Retirement System of Texas purchased a new stake in shares of Insmed Incorporated (NASDAQ:INSM) in the fourth quarter, Holdings Channel reports. The firm purchased 23,598 shares of the biopharmaceutical company’s stock, valued at approximately $736,000.
Other hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Insmed by 137.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,662 shares of the biopharmaceutical company’s stock worth $145,000 after buying an additional 2,698 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Insmed in the 4th quarter worth approximately $188,000. Prudential Financial Inc. purchased a new position in shares of Insmed in the 3rd quarter worth approximately $232,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Insmed in the 3rd quarter worth approximately $256,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of Insmed in the 3rd quarter worth approximately $287,000. Institutional investors and hedge funds own 98.15% of the company’s stock.
Insmed Incorporated (NASDAQ:INSM) opened at $26.23 on Friday. Insmed Incorporated has a 12 month low of $11.49 and a 12 month high of $33.94. The company has a quick ratio of 8.72, a current ratio of 8.72 and a debt-to-equity ratio of 0.15.
A number of equities analysts have recently weighed in on INSM shares. Zacks Investment Research downgraded Insmed from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Credit Suisse Group started coverage on Insmed in a research note on Wednesday, January 17th. They issued a “neutral” rating and a $31.00 target price on the stock. BidaskClub upgraded Insmed from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. ValuEngine upgraded Insmed from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of Insmed in a research note on Thursday, January 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $36.67.
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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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