Insmed Incorporated (NASDAQ:INSM) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 38.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 525,193 shares of the biopharmaceutical company’s stock after selling 332,167 shares during the period. Assenagon Asset Management S.A. owned about 0.29% of Insmed worth $36,259,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Darwin Global Management Ltd. purchased a new position in shares of Insmed in the 2nd quarter valued at $237,076,000. Vestal Point Capital LP increased its holdings in Insmed by 113.3% in the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after purchasing an additional 850,000 shares in the last quarter. Clearbridge Investments LLC raised its position in Insmed by 76.8% in the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after purchasing an additional 714,539 shares during the period. Farallon Capital Management LLC purchased a new position in Insmed in the second quarter valued at about $38,056,000. Finally, Fred Alger Management LLC acquired a new position in shares of Insmed during the second quarter worth about $33,404,000.

Analyst Ratings Changes

INSM has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Bank of America lifted their price objective on shares of Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Truist Financial restated a “buy” rating and issued a $105.00 target price (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Insmed in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Insmed presently has an average rating of “Moderate Buy” and an average target price of $83.67.

Insmed Price Performance

Shares of NASDAQ INSM opened at $72.75 on Friday. The firm has a market capitalization of $13.01 billion, a PE ratio of -13.11 and a beta of 1.12. The business’s fifty day moving average price is $71.20 and its two-hundred day moving average price is $72.47. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $80.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. During the same period in the previous year, the company posted ($1.10) EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, research analysts expect that Insmed Incorporated will post -5.44 EPS for the current year.

Insider Activity

In related news, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the transaction, the chief executive officer now owns 384,960 shares in the company, valued at $26,912,553.60. This trade represents a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Adsett sold 1,457 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $68.72, for a total value of $100,125.04. Following the transaction, the chief operating officer now directly owns 146,082 shares of the company’s stock, valued at approximately $10,038,755.04. The trade was a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,740 shares of company stock valued at $7,161,294. Company insiders own 4.60% of the company’s stock.

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.