Assenagon Asset Management S.A. Has $36.26 Million Position in Insmed Incorporated (NASDAQ:INSM)

Assenagon Asset Management S.A. cut its position in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 38.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 525,193 shares of the biopharmaceutical company's stock after selling 332,167 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.29% of Insmed worth $36,259,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Private Advisor Group LLC purchased a new stake in Insmed in the 2nd quarter worth approximately $575,000. Federated Hermes Inc. grew its position in shares of Insmed by 11,879.8% in the second quarter. Federated Hermes Inc. now owns 10,063 shares of the biopharmaceutical company's stock valued at $674,000 after purchasing an additional 9,979 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Insmed in the second quarter valued at $449,000. Envestnet Asset Management Inc. lifted its position in Insmed by 211.9% during the second quarter. Envestnet Asset Management Inc. now owns 175,464 shares of the biopharmaceutical company's stock worth $11,756,000 after buying an additional 119,214 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new stake in Insmed in the 2nd quarter worth about $810,000.

Insmed Price Performance

INSM stock traded down $0.24 during trading on Friday, hitting $72.51. The company had a trading volume of 1,695,908 shares, compared to its average volume of 2,114,886. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $12.97 billion, a price-to-earnings ratio of -13.06 and a beta of 1.12. The business has a 50 day moving average of $71.20 and a 200 day moving average of $72.47.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.19) by ($0.08). The business had revenue of $93.40 million during the quarter, compared to analysts' expectations of $93.36 million. During the same period in the prior year, the firm posted ($1.10) earnings per share. The business's quarterly revenue was up 18.1% compared to the same quarter last year. As a group, research analysts predict that Insmed Incorporated will post -5.44 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Insmed from $74.00 to $83.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. HC Wainwright reissued a "buy" rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st. Truist Financial reaffirmed a "buy" rating and set a $105.00 target price (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. Finally, Bank of America raised their price objective on Insmed from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $83.67.

Insider Buying and Selling

In related news, CEO William Lewis sold 31,805 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $70.18, for a total transaction of $2,232,074.90. Following the completion of the sale, the chief executive officer now directly owns 379,534 shares in the company, valued at approximately $26,635,696.12. This trade represents a 7.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Martina M.D. Flammer sold 1,384 shares of the company's stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $68.72, for a total value of $95,108.48. Following the sale, the insider now directly owns 100,165 shares of the company's stock, valued at approximately $6,883,338.80. This represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,740 shares of company stock valued at $7,161,294 over the last three months. Company insiders own 4.60% 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.