Assenagon Asset Management S.A. Raises Position in Insmed Incorporated (NASDAQ:INSM)

Assenagon Asset Management S.A. raised its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 119.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 857,360 shares of the biopharmaceutical company’s stock after buying an additional 466,306 shares during the period. Assenagon Asset Management S.A.’s holdings in Insmed were worth $62,587,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new stake in Insmed during the 3rd quarter valued at about $30,000. EntryPoint Capital LLC bought a new stake in Insmed in the first quarter valued at approximately $33,000. Fidelis Capital Partners LLC purchased a new stake in shares of Insmed during the first quarter valued at approximately $34,000. GAMMA Investing LLC grew its holdings in shares of Insmed by 71.3% in the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of Insmed by 83.4% in the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 287 shares during the period.

Insmed Stock Down 0.3 %

Shares of Insmed stock opened at $71.71 on Friday. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $80.53. The firm has a market cap of $10.66 billion, a price-to-earnings ratio of -13.71 and a beta of 1.11. The company has a 50-day moving average of $73.93 and a 200 day moving average of $59.51. The company has a debt-to-equity ratio of 25.05, a current ratio of 2.71 and a quick ratio of 2.53.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The firm had revenue of $90.34 million for the quarter, compared to analysts’ expectations of $87.95 million. During the same period last year, the firm earned ($1.78) EPS. The business’s revenue was up 17.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Insmed Incorporated will post -5.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Insmed

In other news, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the sale, the insider now directly owns 67,856 shares of the company’s stock, valued at approximately $5,045,093.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Michael Alexander Smith sold 27,871 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the transaction, the insider now owns 67,856 shares in the company, valued at approximately $5,045,093.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the sale, the insider now directly owns 106,134 shares of the company’s stock, valued at $7,951,559.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Insmed from $60.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. Bank of America boosted their price target on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. StockNews.com cut Insmed from a “hold” rating to a “sell” rating in a report on Friday, August 9th. The Goldman Sachs Group lifted their price objective on Insmed from $74.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Insmed has an average rating of “Moderate Buy” and an average target price of $82.73.

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.