Assenagon Asset Management S.A. Buys 33,626 Shares of Insmed, Inc. $INSM

Assenagon Asset Management S.A. grew its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 84.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 73,404 shares of the biopharmaceutical company’s stock after buying an additional 33,626 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Insmed were worth $7,387,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of INSM. Adage Capital Partners GP L.L.C. increased its holdings in Insmed by 109.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 3,446,944 shares of the biopharmaceutical company’s stock valued at $262,967,000 after purchasing an additional 1,799,382 shares during the period. Nuveen LLC bought a new position in shares of Insmed during the 1st quarter worth approximately $88,351,000. Duquesne Family Office LLC grew its position in shares of Insmed by 130.7% during the 1st quarter. Duquesne Family Office LLC now owns 1,369,050 shares of the biopharmaceutical company’s stock worth $104,445,000 after buying an additional 775,580 shares during the period. 1832 Asset Management L.P. bought a new stake in shares of Insmed during the first quarter valued at approximately $37,214,000. Finally, Wellington Management Group LLP raised its position in shares of Insmed by 62.5% during the first quarter. Wellington Management Group LLP now owns 1,222,627 shares of the biopharmaceutical company’s stock worth $93,274,000 after purchasing an additional 470,401 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have commented on INSM. Royal Bank Of Canada boosted their price target on shares of Insmed from $108.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Bank of America raised their price objective on shares of Insmed from $94.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, June 11th. HC Wainwright lifted their target price on shares of Insmed from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, June 11th. Truist Financial boosted their price objective on shares of Insmed from $126.00 to $139.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Finally, Jefferies Financial Group lifted their price objective on shares of Insmed from $129.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Sixteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Insmed has a consensus rating of “Moderate Buy” and a consensus target price of $139.86.

Insmed Stock Performance

Shares of INSM opened at $145.38 on Wednesday. The company has a market cap of $30.73 billion, a price-to-earnings ratio of -25.46 and a beta of 0.96. The business’s fifty day simple moving average is $125.89 and its two-hundred day simple moving average is $95.28. Insmed, Inc. has a 12 month low of $60.40 and a 12 month high of $149.08. The company has a current ratio of 6.68, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.30) 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 $107.42 million for the quarter, compared to the consensus estimate of $104.06 million. During the same period in the previous year, the company earned ($1.94) earnings per share. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. Insmed has set its FY 2025 guidance at EPS. Research analysts anticipate that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO William Lewis sold 6,865 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $128.40, for a total value of $881,466.00. Following the sale, the chief executive officer owned 233,924 shares in the company, valued at approximately $30,035,841.60. This trade represents a 2.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Roger Adsett sold 25,000 shares of Insmed stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $127.58, for a total transaction of $3,189,500.00. Following the completion of the sale, the chief operating officer directly owned 105,637 shares of the company’s stock, valued at approximately $13,477,168.46. This trade represents a 19.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 277,332 shares of company stock worth $33,842,327. 3.00% of the stock is owned by corporate insiders.

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.