Thornburg Investment Management Inc. Decreases Position in Insmed, Inc. $INSM

Thornburg Investment Management Inc. trimmed its stake in Insmed, Inc. (NASDAQ:INSM) by 22.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,248 shares of the biopharmaceutical company’s stock after selling 15,592 shares during the period. Thornburg Investment Management Inc.’s holdings in Insmed were worth $5,359,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of INSM. Mutual of America Capital Management LLC lifted its position in Insmed by 2.7% in the first quarter. Mutual of America Capital Management LLC now owns 79,141 shares of the biopharmaceutical company’s stock worth $6,038,000 after buying an additional 2,093 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Insmed by 5.9% during the first quarter. Avantax Advisory Services Inc. now owns 9,497 shares of the biopharmaceutical company’s stock worth $725,000 after purchasing an additional 530 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Insmed by 103.7% during the first quarter. Cetera Investment Advisers now owns 20,679 shares of the biopharmaceutical company’s stock valued at $1,578,000 after purchasing an additional 10,525 shares during the period. LPL Financial LLC grew its holdings in shares of Insmed by 56.3% in the first quarter. LPL Financial LLC now owns 51,213 shares of the biopharmaceutical company’s stock worth $3,907,000 after purchasing an additional 18,456 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in Insmed by 20.4% in the 1st quarter. Mackenzie Financial Corp now owns 13,103 shares of the biopharmaceutical company’s stock worth $1,000,000 after buying an additional 2,220 shares during the period.

Insmed Trading Down 2.2%

NASDAQ INSM opened at $204.51 on Thursday. The firm has a market cap of $43.62 billion, a PE ratio of -35.82 and a beta of 1.05. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $209.77. The company has a quick ratio of 6.33, a current ratio of 6.68 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average price of $171.50 and a 200 day moving average price of $128.13.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.40). Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The business had revenue of $142.34 million for the quarter, compared to analysts’ expectations of $114.33 million. During the same quarter in the prior year, the company posted ($1.27) EPS. The business’s revenue for the quarter was up 52.4% on a year-over-year basis. Insmed has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Insider Activity

In other Insmed news, Director Leo Lee sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $195.90, for a total transaction of $14,692,500.00. Following the transaction, the director owned 54,677 shares in the company, valued at approximately $10,711,224.30. This represents a 57.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 76,520 shares of Insmed stock in a transaction on Friday, September 12th. The stock was sold at an average price of $145.45, for a total transaction of $11,129,834.00. Following the sale, the insider owned 36,461 shares of the company’s stock, valued at $5,303,252.45. The trade was a 67.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 257,922 shares of company stock valued at $44,556,283. 3.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on INSM. Evercore ISI restated an “outperform” rating and issued a $180.00 target price on shares of Insmed in a research note on Wednesday, October 1st. Jefferies Financial Group lifted their target price on Insmed from $129.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday, August 13th. Mizuho set a $196.00 target price on Insmed in a report on Wednesday, October 29th. Bank of America increased their price target on Insmed from $142.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Finally, UBS Group upped their price objective on shares of Insmed from $194.00 to $223.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Nineteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.53.

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.