Thornburg Investment Management Inc. Sells 6,077 Shares of Insmed, Inc. $INSM

Thornburg Investment Management Inc. lessened its holdings in shares of Insmed, Inc. (NASDAQ:INSM) by 13.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,971 shares of the biopharmaceutical company’s stock after selling 6,077 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Insmed were worth $6,608,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of INSM. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Insmed in the 4th quarter worth approximately $49,000. Vanguard Personalized Indexing Management LLC lifted its position in Insmed by 19.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 11,424 shares of the biopharmaceutical company’s stock worth $1,988,000 after buying an additional 1,872 shares during the last quarter. Mariner LLC lifted its position in Insmed by 22.2% in the 4th quarter. Mariner LLC now owns 35,272 shares of the biopharmaceutical company’s stock worth $6,139,000 after buying an additional 6,403 shares during the last quarter. Next Century Growth Investors LLC lifted its position in Insmed by 28.1% in the 4th quarter. Next Century Growth Investors LLC now owns 20,301 shares of the biopharmaceutical company’s stock worth $3,533,000 after buying an additional 4,452 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Insmed in the 4th quarter worth approximately $11,367,000.

Insmed Stock Performance

Shares of INSM stock opened at $97.85 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. Insmed, Inc. has a fifty-two week low of $90.39 and a fifty-two week high of $212.75. The stock has a 50 day moving average price of $124.55 and a two-hundred day moving average price of $150.91. The company has a market capitalization of $21.21 billion, a P/E ratio of -17.02 and a beta of 0.79.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The firm had revenue of $305.96 million during the quarter, compared to the consensus estimate of $300.81 million. During the same quarter in the previous year, the company posted ($1.42) earnings per share. The business’s revenue was up 229.7% on a year-over-year basis. Analysts expect that Insmed, Inc. will post -2.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Michael Alexander Smith sold 19,638 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $150.98, for a total transaction of $2,964,945.24. Following the transaction, the insider directly owned 51,871 shares of the company’s stock, valued at approximately $7,831,483.58. The trade was a 27.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sara Bonstein sold 2,404 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $245,857.08. Following the transaction, the chief financial officer directly owned 69,082 shares in the company, valued at $7,065,016.14. This trade represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 160,482 shares of company stock valued at $24,438,193 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on INSM shares. Truist Financial dropped their target price on Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Morgan Stanley upgraded Insmed from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $166.00 to $212.00 in a research report on Monday, March 30th. Raymond James Financial started coverage on Insmed in a research report on Friday, April 10th. They issued an “outperform” rating and a $200.00 target price for the company. Leerink Partners boosted their target price on Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. Finally, Mizuho boosted their target price on Insmed from $204.00 to $206.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $212.50.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.