Assenagon Asset Management S.A. Has $3.04 Million Holdings in Insmed Incorporated (NASDAQ:INSM)

Assenagon Asset Management S.A. cut its holdings in Insmed Incorporated (NASDAQ:INSM) by 92.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,778 shares of the biopharmaceutical company’s stock after selling 485,415 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Insmed were worth $3,035,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Darwin Global Management Ltd. grew its holdings in Insmed by 23.5% during the fourth quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock worth $894,796,000 after buying an additional 2,463,261 shares in the last quarter. Norges Bank purchased a new stake in Insmed during the 4th quarter worth about $126,606,000. Vanguard Group Inc. lifted its holdings in Insmed by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock worth $1,257,838,000 after purchasing an additional 1,075,796 shares in the last quarter. Brown Advisory Inc. purchased a new stake in Insmed during the 4th quarter worth about $45,773,000. Finally, Adage Capital Partners GP L.L.C. raised its holdings in shares of Insmed by 59.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,647,562 shares of the biopharmaceutical company’s stock valued at $113,748,000 after acquiring an additional 615,000 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. The Goldman Sachs Group increased their price objective on Insmed from $100.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, June 11th. Truist Financial raised their target price on Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a report on Wednesday, February 19th. UBS Group cut their price objective on Insmed from $110.00 to $109.00 and set a “buy” rating for the company in a report on Friday, May 9th. Finally, Bank of America boosted their price target on Insmed from $94.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.81.

Insmed Price Performance

NASDAQ:INSM opened at $101.59 on Tuesday. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $18.50 billion, a P/E ratio of -18.17 and a beta of 0.80. Insmed Incorporated has a 12 month low of $60.40 and a 12 month high of $101.70. The business’s 50-day moving average is $72.14 and its 200 day moving average is $73.78.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.06). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The company had revenue of $92.82 million for the quarter, compared to analysts’ expectations of $91.63 million. During the same quarter last year, the company earned ($1.06) earnings per share. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, equities research analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Insider Transactions at Insmed

In other Insmed news, insider Michael Alexander Smith sold 409 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $65.61, for a total transaction of $26,834.49. Following the sale, the insider now owns 91,794 shares of the company’s stock, valued at approximately $6,022,604.34. This trade represents a 0.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Clarissa Desjardins acquired 1,895 shares of the stock in a transaction dated Tuesday, May 20th. The stock was acquired at an average cost of $66.87 per share, with a total value of $126,718.65. Following the transaction, the director now directly owns 1,895 shares in the company, valued at approximately $126,718.65. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 301,182 shares of company stock worth $24,289,380. 3.00% of the stock is currently owned by company insiders.

About Insmed

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.