Peregrine Capital Management LLC Boosts Stake in Insmed Incorporated (NASDAQ:INSM)

Peregrine Capital Management LLC increased its stake in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 11.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 193,479 shares of the biopharmaceutical company's stock after buying an additional 20,642 shares during the quarter. Peregrine Capital Management LLC owned about 0.11% of Insmed worth $13,358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Venturi Wealth Management LLC purchased a new position in shares of Insmed during the fourth quarter worth about $86,000. Truist Financial Corp grew its holdings in shares of Insmed by 3.4% during the fourth quarter. Truist Financial Corp now owns 30,038 shares of the biopharmaceutical company's stock worth $2,074,000 after buying an additional 1,000 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Insmed by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 4,685 shares of the biopharmaceutical company's stock worth $323,000 after buying an additional 247 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Insmed by 13.7% during the fourth quarter. Sanctuary Advisors LLC now owns 3,861 shares of the biopharmaceutical company's stock worth $295,000 after buying an additional 464 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of Insmed by 7.4% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 64,061 shares of the biopharmaceutical company's stock worth $4,423,000 after buying an additional 4,438 shares during the last quarter.

Insider Transactions at Insmed

In other news, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the business's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $80.00, for a total value of $7,291,200.00. Following the completion of the transaction, the insider now directly owns 97,083 shares of the company's stock, valued at $7,766,640. The trade was a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William Lewis sold 18,750 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $81.03, for a total value of $1,519,312.50. Following the completion of the transaction, the chief executive officer now directly owns 334,186 shares of the company's stock, valued at approximately $27,079,091.58. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 532,207 shares of company stock valued at $41,400,465 over the last three months. 4.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Stifel Nicolaus lowered their price target on Insmed from $97.00 to $96.00 and set a "buy" rating on the stock in a report on Friday. Wells Fargo & Company lifted their price objective on Insmed from $85.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Insmed in a report on Friday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Insmed in a report on Wednesday. Finally, Guggenheim lifted their price objective on Insmed from $95.00 to $101.00 and gave the company a "buy" rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, Insmed has an average rating of "Moderate Buy" and an average target price of $91.00.

Insmed Price Performance

Shares of NASDAQ:INSM traded down $2.55 during trading on Friday, hitting $81.06. 2,722,240 shares of the stock were exchanged, compared to its average volume of 1,948,698. The company has a fifty day moving average price of $74.29 and a two-hundred day moving average price of $73.59. The company has a market cap of $14.50 billion, a PE ratio of -14.61 and a beta of 1.11. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $84.91.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.15). The firm had revenue of $104.44 million during the quarter, compared to analyst estimates of $102.31 million. On average, analysts forecast that Insmed Incorporated will post -5.42 EPS 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.