Peregrine Capital Management LLC Sells 50,037 Shares of Insmed Incorporated (NASDAQ:INSM)

Peregrine Capital Management LLC lowered its holdings in Insmed Incorporated (NASDAQ:INSM - Free Report) by 14.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 290,088 shares of the biopharmaceutical company's stock after selling 50,037 shares during the period. Peregrine Capital Management LLC owned about 0.20% of Insmed worth $8,990,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of INSM. Norges Bank purchased a new position in Insmed in the fourth quarter worth $26,850,000. Vanguard Group Inc. lifted its position in shares of Insmed by 7.7% during the 3rd quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company's stock valued at $362,224,000 after buying an additional 1,024,956 shares during the last quarter. RTW Investments LP lifted its position in shares of Insmed by 86.5% during the 3rd quarter. RTW Investments LP now owns 1,865,108 shares of the biopharmaceutical company's stock valued at $47,094,000 after buying an additional 865,108 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Insmed by 47.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,383,039 shares of the biopharmaceutical company's stock valued at $60,172,000 after buying an additional 769,443 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Insmed during the 3rd quarter valued at $15,150,000.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on INSM. Guggenheim upped their target price on Insmed from $52.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, February 27th. StockNews.com upgraded Insmed from a "sell" rating to a "hold" rating in a research note on Wednesday, February 28th. Wolfe Research began coverage on Insmed in a research report on Thursday, February 15th. They set an "outperform" rating and a $42.00 price objective on the stock. UBS Group began coverage on Insmed in a research report on Tuesday, February 27th. They set a "buy" rating and a $46.00 price objective on the stock. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $55.00 price objective on shares of Insmed in a research report on Monday, April 1st. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $45.10.

Insider Buying and Selling

In related news, COO Roger Adsett sold 5,251 shares of the firm's stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $28.63, for a total transaction of $150,336.13. Following the transaction, the chief operating officer now directly owns 148,559 shares in the company, valued at approximately $4,253,244.17. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Martina M.D. Flammer sold 4,667 shares of Insmed stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $28.63, for a total value of $133,616.21. Following the sale, the insider now directly owns 106,898 shares in the company, valued at approximately $3,060,489.74. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Roger Adsett sold 5,251 shares of Insmed stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $28.63, for a total value of $150,336.13. Following the completion of the sale, the chief operating officer now owns 148,559 shares in the company, valued at $4,253,244.17. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.

Insmed Stock Performance

INSM traded up $0.38 on Wednesday, hitting $28.39. 1,147,158 shares of the company were exchanged, compared to its average volume of 1,677,975. The firm has a fifty day simple moving average of $27.69 and a two-hundred day simple moving average of $26.99. Insmed Incorporated has a 12 month low of $16.46 and a 12 month high of $32.00. The stock has a market capitalization of $4.22 billion, a PE ratio of -5.32 and a beta of 0.92.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.15). The company had revenue of $83.70 million during the quarter, compared to analyst estimates of $82.15 million. During the same quarter last year, the firm posted ($1.20) EPS. Insmed's revenue was up 41.1% compared to the same quarter last year. On average, equities analysts expect that Insmed Incorporated will post -4.65 earnings per share for the current year.

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.