Peregrine Capital Management LLC Trims Holdings in Insmed Incorporated (NASDAQ:INSM)

Peregrine Capital Management LLC decreased its holdings in Insmed Incorporated (NASDAQ:INSM – Get Rating) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 350,969 shares of the biopharmaceutical company’s stock after selling 10,634 shares during the quarter. Peregrine Capital Management LLC owned about 0.26% of Insmed worth $7,012,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of INSM. Hudson Bay Capital Management LP raised its position in Insmed by 390.2% in the 2nd quarter. Hudson Bay Capital Management LP now owns 784,300 shares of the biopharmaceutical company’s stock valued at $15,466,000 after purchasing an additional 624,300 shares during the last quarter. Tang Capital Management LLC purchased a new position in Insmed during the 3rd quarter worth $10,770,000. Assenagon Asset Management S.A. raised its position in Insmed by 30.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,643,872 shares of the biopharmaceutical company’s stock worth $35,409,000 after buying an additional 384,952 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Insmed by 2.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 16,222,623 shares of the biopharmaceutical company’s stock worth $319,910,000 after buying an additional 364,362 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in Insmed by 71.2% during the 3rd quarter. Nuveen Asset Management LLC now owns 824,216 shares of the biopharmaceutical company’s stock worth $17,754,000 after buying an additional 342,694 shares during the last quarter. Hedge funds and other institutional investors own 92.83% of the company’s stock.

Insider Activity

In related news, CEO William Lewis sold 7,008 shares of the firm’s stock in a transaction that occurred on Thursday, January 5th. The shares were sold at an average price of $19.80, for a total transaction of $138,758.40. Following the sale, the chief executive officer now owns 249,708 shares in the company, valued at $4,944,218.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO William Lewis sold 7,008 shares of the firm’s stock in a transaction that occurred on Thursday, January 5th. The shares were sold at an average price of $19.80, for a total transaction of $138,758.40. Following the sale, the chief executive officer now owns 249,708 shares in the company, valued at $4,944,218.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Roger Adsett sold 3,044 shares of the firm’s stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $19.75, for a total transaction of $60,119.00. Following the sale, the chief operating officer now owns 131,083 shares in the company, valued at approximately $2,588,889.25. The disclosure for this sale can be found here. Insiders have sold 27,592 shares of company stock worth $518,005 over the last ninety days. 4.63% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on INSM. StockNews.com began coverage on shares of Insmed in a research report on Thursday. They set a “sell” rating for the company. The Goldman Sachs Group lowered their price target on shares of Insmed from $44.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, January 9th. Barclays lowered their price target on shares of Insmed from $37.00 to $35.00 and set an “overweight” rating on the stock in a research note on Friday, January 20th. JPMorgan Chase & Co. lowered their price target on shares of Insmed to $38.00 in a research note on Monday, November 28th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $52.00 price target on shares of Insmed in a research note on Friday, February 24th. One research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.33.

Insmed Stock Down 0.2 %

INSM stock opened at $17.42 on Friday. The company’s 50 day simple moving average is $19.99 and its 200-day simple moving average is $20.23. Insmed Incorporated has a 12 month low of $16.41 and a 12 month high of $28.94. The company has a current ratio of 6.69, a quick ratio of 6.33 and a debt-to-equity ratio of 13.13.

About Insmed

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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.