Peregrine Capital Management LLC Sells 12,486 Shares of Insmed, Inc. (NASDAQ:INSM)

Peregrine Capital Management LLC lessened its holdings in Insmed, Inc. (NASDAQ:INSM - Free Report) by 6.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,993 shares of the biopharmaceutical company's stock after selling 12,486 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.10% of Insmed worth $13,808,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in INSM. Sowell Financial Services LLC acquired a new position in Insmed in the 1st quarter valued at approximately $255,000. Oppenheimer Asset Management Inc. grew its stake in shares of Insmed by 37.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 19,935 shares of the biopharmaceutical company's stock worth $1,521,000 after purchasing an additional 5,453 shares during the last quarter. M&T Bank Corp increased its holdings in Insmed by 5.6% in the fourth quarter. M&T Bank Corp now owns 3,146 shares of the biopharmaceutical company's stock valued at $217,000 after purchasing an additional 166 shares during the period. Smartleaf Asset Management LLC raised its position in Insmed by 98.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company's stock worth $57,000 after purchasing an additional 411 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Insmed during the 4th quarter worth $1,864,000.

Analysts Set New Price Targets

Several brokerages have recently weighed in on INSM. Jefferies Financial Group reissued a "buy" rating on shares of Insmed in a research note on Tuesday, June 10th. Morgan Stanley increased their target price on shares of Insmed from $90.00 to $102.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Mizuho boosted their price target on shares of Insmed from $96.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 11th. Citigroup upgraded shares of Insmed to a "buy" rating in a research report on Tuesday, June 10th. Finally, Leerink Partners lifted their target price on shares of Insmed from $100.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $106.80.

Insmed Stock Down 3.0%

NASDAQ INSM traded down $3.02 during mid-day trading on Tuesday, hitting $97.62. The company's stock had a trading volume of 3,833,645 shares, compared to its average volume of 2,306,432. The firm has a market capitalization of $18.52 billion, a price-to-earnings ratio of -16.41 and a beta of 0.90. The company's 50 day simple moving average is $79.16 and its 200 day simple moving average is $75.93. The company has a current ratio of 5.86, a quick ratio of 5.44 and a debt-to-equity ratio of 11.38. Insmed, Inc. has a twelve month low of $60.40 and a twelve month high of $106.83.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.36) by ($0.06). The business had revenue of $92.82 million for the quarter, compared to analyst estimates of $91.63 million. Insmed had a negative net margin of 265.93% and a negative return on equity of 446.98%. The firm's quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.06) earnings per share. Analysts anticipate that Insmed, Inc. will post -4.56 earnings per share for the current year.

Insider Activity

In other news, CEO William Lewis sold 129,805 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $100.39, for a total value of $13,031,123.95. Following the transaction, the chief executive officer owned 233,924 shares in the company, valued at $23,483,630.36. This trade represents a 35.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total value of $9,264,648.24. Following the sale, the insider owned 89,407 shares of the company's stock, valued at $8,352,401.94. This trade represents a 52.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 488,752 shares of company stock worth $43,199,826. Company insiders own 3.00% of the company's stock.

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.