Assenagon Asset Management S.A. Sells 485,415 Shares of Insmed, Inc. (NASDAQ:INSM)

Assenagon Asset Management S.A. lowered its holdings in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 92.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of INSM. 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 valued at $894,796,000 after purchasing an additional 2,463,261 shares during the last quarter. Norges Bank bought a new stake in shares of Insmed during the 4th quarter worth $126,606,000. Vanguard Group Inc. grew its stake in Insmed by 6.3% in the 4th quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company's stock valued at $1,257,838,000 after buying an additional 1,075,796 shares during the last quarter. Brown Advisory Inc. bought a new position in Insmed in the 4th quarter worth $45,773,000. Finally, Adage Capital Partners GP L.L.C. raised its holdings in 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 worth $113,748,000 after acquiring an additional 615,000 shares during the period.

Analysts Set New Price Targets

INSM has been the subject of a number of recent analyst reports. Truist Financial upped their price target on shares of Insmed from $105.00 to $108.00 and gave the company a "buy" rating in a report on Friday, February 21st. Guggenheim restated a "buy" rating and set a $101.00 target price on shares of Insmed in a research note on Tuesday, February 25th. Citigroup raised Insmed to a "buy" rating in a research report on Tuesday, June 10th. Jefferies Financial Group reiterated a "buy" rating on shares of Insmed in a report on Tuesday, June 10th. Finally, UBS Group lowered their price objective on shares of Insmed from $110.00 to $109.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $104.81.

Insmed Price Performance

Shares of INSM traded up $3.21 during trading hours on Friday, hitting $102.67. The stock had a trading volume of 2,217,321 shares, compared to its average volume of 2,465,501. The stock has a market capitalization of $19.48 billion, a price-to-earnings ratio of -17.19 and a beta of 0.80. The company has a debt-to-equity ratio of 11.38, a current ratio of 5.86 and a quick ratio of 5.44. The company's fifty day moving average is $74.12 and its two-hundred day moving average is $74.32. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $102.04.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative return on equity of 446.98% and a negative net margin of 265.93%. The firm had revenue of $92.82 million for the quarter, compared to analyst estimates of $91.63 million. During the same period in the previous year, the business posted ($1.06) EPS. The business's quarterly revenue was up 22.9% on a year-over-year basis. On average, analysts anticipate that Insmed, Inc. will post -4.56 EPS for the current year.

Insider Activity

In other news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total transaction of $9,264,648.24. Following the completion of the sale, the insider now owns 89,407 shares in the company, valued at $8,352,401.94. The trade was a 52.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William Lewis sold 6,830 shares of Insmed stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $70.16, for a total value of $479,192.80. Following the completion of the sale, the chief executive officer now owns 233,924 shares of the company's stock, valued at approximately $16,412,107.84. The trade was a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 430,987 shares of company stock worth $37,320,504. 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.