Jennison Associates LLC Decreases Stock Holdings in Insmed, Inc. (NASDAQ:INSM)

Jennison Associates LLC lessened its stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 748,313 shares of the biopharmaceutical company's stock after selling 25,500 shares during the quarter. Jennison Associates LLC owned 0.41% of Insmed worth $57,089,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. increased its holdings in Insmed by 164.9% in the first quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 221 shares during the last quarter. Elequin Capital LP acquired a new stake in Insmed in the fourth quarter worth approximately $28,000. NBC Securities Inc. acquired a new stake in Insmed in the first quarter worth approximately $49,000. Versant Capital Management Inc raised its stake in Insmed by 546.3% during the 1st quarter. Versant Capital Management Inc now owns 698 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 590 shares during the period. Finally, Signaturefd LLC raised its stake in Insmed by 60.0% during the 1st quarter. Signaturefd LLC now owns 867 shares of the biopharmaceutical company's stock valued at $66,000 after purchasing an additional 325 shares during the period.

Insmed Stock Performance

Insmed stock traded down $1.61 during trading hours on Friday, hitting $102.56. The company had a trading volume of 1,432,373 shares, compared to its average volume of 2,300,875. Insmed, Inc. has a one year low of $60.40 and a one year high of $106.83. The firm has a 50-day moving average of $86.93 and a 200 day moving average of $78.56. The firm has a market cap of $19.46 billion, a PE ratio of -17.24 and a beta of 0.90. The company has a debt-to-equity ratio of 11.38, a current ratio of 5.86 and a quick ratio of 5.44.

Insmed (NASDAQ:INSM - Get Free Report) last issued its earnings results 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 during the quarter, compared to analyst estimates of $91.63 million. Insmed had a negative net margin of 265.93% and a negative return on equity of 446.98%. The business's quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.06) EPS. On average, sell-side analysts expect that Insmed, Inc. will post -4.56 earnings per share for the current year.

Analysts Set New Price Targets

INSM has been the topic of several analyst reports. Leerink Partners increased their target price on shares of Insmed from $100.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Jefferies Financial Group reiterated a "buy" rating on shares of Insmed in a research note on Tuesday, June 10th. JPMorgan Chase & Co. increased their target price on shares of Insmed from $90.00 to $111.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Bank of America increased their target price on shares of Insmed from $94.00 to $109.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Finally, Morgan Stanley raised their price target on shares of Insmed from $102.00 to $108.00 and gave the stock an "overweight" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Insmed has an average rating of "Moderate Buy" and an average price target of $108.47.

Insider Buying and Selling

In other Insmed news, CEO William Lewis sold 6,830 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $102.37, for a total transaction of $699,187.10. Following the completion of the sale, the chief executive officer owned 233,924 shares of the company's stock, valued at $23,946,799.88. This represents a 2.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Sara Bonstein sold 57,764 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.86, for a total transaction of $5,537,257.04. Following the sale, the chief financial officer directly owned 84,017 shares of the company's stock, valued at $8,053,869.62. The trade was a 40.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 548,197 shares of company stock valued at $49,124,834. Corporate insiders own 3.00% of the company's stock.

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.