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

Assenagon Asset Management S.A. lessened its stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 92.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Elequin Capital LP acquired a new stake in Insmed in the fourth quarter valued at $28,000. Steward Partners Investment Advisory LLC lifted its position in shares of Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 163 shares during the period. NBC Securities Inc. purchased a new stake in shares of Insmed during the 1st quarter worth approximately $49,000. V Square Quantitative Management LLC raised its holdings in Insmed by 60.3% in the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company's stock valued at $45,000 after acquiring an additional 248 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Insmed by 546.3% during the first quarter. Versant Capital Management Inc now owns 698 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 590 shares during the last quarter.

Insmed Stock Performance

Shares of Insmed stock traded up $0.35 on Wednesday, reaching $100.63. 317,638 shares of the company were exchanged, compared to its average volume of 2,164,942. Insmed, Inc. has a 1-year low of $60.40 and a 1-year high of $102.00. The company has a debt-to-equity ratio of 11.38, a quick ratio of 5.44 and a current ratio of 5.86. The firm has a market cap of $19.09 billion, a price-to-earnings ratio of -16.90 and a beta of 0.80. The company's 50-day moving average is $72.79 and its two-hundred day moving average is $73.96.

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

Analyst Upgrades and Downgrades

INSM has been the subject of several analyst reports. Guggenheim reiterated a "buy" rating and issued a $101.00 target price on shares of Insmed in a research note on Tuesday, February 25th. Stifel Nicolaus dropped their price objective on shares of Insmed from $97.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Bank of America increased 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. Jefferies Financial Group restated a "buy" rating on shares of Insmed in a report on Tuesday, June 10th. Finally, Mizuho upped their price target on shares of Insmed from $96.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 11th. One analyst has rated the stock with a sell rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $104.81.

Insiders Place Their Bets

In related news, CEO William Lewis sold 6,830 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were 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 directly owns 233,924 shares in the company, valued at approximately $16,412,107.84. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Martina M.D. Flammer sold 9,925 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $65.47, for a total value of $649,789.75. Following the completion of the sale, the insider now directly owns 86,596 shares of the company's stock, valued at $5,669,440.12. This represents a 10.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 301,182 shares of company stock worth $24,289,380 over the last ninety days. 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.