Insmed, Inc. (NASDAQ:INSM) Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. cut its stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 7.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,840 shares of the biopharmaceutical company's stock after selling 5,909 shares during the period. Thornburg Investment Management Inc.'s holdings in Insmed were worth $5,252,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. LPL Financial LLC lifted its stake in Insmed by 10.7% during the fourth quarter. LPL Financial LLC now owns 32,757 shares of the biopharmaceutical company's stock worth $2,262,000 after purchasing an additional 3,172 shares during the last quarter. Norges Bank purchased a new position in Insmed in the fourth quarter worth $126,606,000. HighPoint Advisor Group LLC purchased a new stake in Insmed in the 4th quarter worth about $248,000. National Bank of Canada FI grew its holdings in Insmed by 9.7% during the 4th quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company's stock valued at $115,000 after buying an additional 147 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Insmed by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 4,087,143 shares of the biopharmaceutical company's stock worth $282,243,000 after buying an additional 273,759 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have commented on INSM. Citigroup upgraded shares of Insmed to a "buy" rating in a research note on Tuesday, June 10th. Jefferies Financial Group reiterated a "buy" rating on shares of Insmed in a research note on Tuesday, June 10th. Bank of America lifted their price target on shares of Insmed from $94.00 to $109.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. JPMorgan Chase & Co. increased their target price on shares of Insmed from $90.00 to $111.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley increased their price target on shares of Insmed from $102.00 to $108.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Insmed presently has an average rating of "Moderate Buy" and a consensus target price of $109.20.

Insider Buying and Selling at Insmed

In related news, insider Michael Alexander Smith sold 933 shares of Insmed stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $102.51, for a total value of $95,641.83. Following the completion of the transaction, the insider directly owned 66,394 shares in the company, valued at approximately $6,806,048.94. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $93.42, for a total value of $9,264,648.24. Following the completion of the sale, the insider directly owned 89,407 shares of the company's stock, valued at $8,352,401.94. The trade was a 52.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 599,767 shares of company stock valued at $54,625,108 over the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

Insmed Trading Up 2.0%

Shares of INSM traded up $2.10 during trading hours on Thursday, reaching $107.28. 2,225,294 shares of the company traded hands, compared to its average volume of 2,308,534. The company's fifty day moving average price is $92.76 and its two-hundred day moving average price is $80.50. Insmed, Inc. has a 12 month low of $60.40 and a 12 month high of $108.64. The company has a quick ratio of 5.44, a current ratio of 5.86 and a debt-to-equity ratio of 11.38. The company has a market capitalization of $20.35 billion, a price-to-earnings ratio of -18.03 and a beta of 0.90.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings results 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). Insmed had a negative net margin of 265.93% and a negative return on equity of 446.98%. The firm had revenue of $92.82 million during the quarter, compared to analysts' expectations of $91.63 million. During the same quarter in the previous year, the firm posted ($1.06) EPS. The firm's revenue for the quarter was up 22.9% on a year-over-year basis. Equities research analysts predict that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Insmed Company 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.