Jennison Associates LLC Has $56.16 Million Stake in Insmed Incorporated (NASDAQ:INSM)

Jennison Associates LLC boosted its position in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 769,253 shares of the biopharmaceutical company's stock after purchasing an additional 24,973 shares during the period. Jennison Associates LLC owned about 0.43% of Insmed worth $56,155,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Commerce Bank increased its holdings in Insmed by 2.4% during the 3rd quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company's stock worth $499,000 after purchasing an additional 163 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Insmed during the 3rd quarter worth about $767,000. Pathstone Holdings LLC boosted its stake in shares of Insmed by 9.5% during the 3rd quarter. Pathstone Holdings LLC now owns 35,544 shares of the biopharmaceutical company's stock worth $2,595,000 after buying an additional 3,070 shares during the last quarter. First Turn Management LLC boosted its stake in shares of Insmed by 10.2% during the 3rd quarter. First Turn Management LLC now owns 356,451 shares of the biopharmaceutical company's stock worth $26,021,000 after buying an additional 33,091 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of Insmed by 9.0% during the 3rd quarter. Swiss National Bank now owns 302,500 shares of the biopharmaceutical company's stock worth $22,082,000 after buying an additional 25,000 shares during the last quarter.

Insider Activity at Insmed

In other Insmed news, 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 value of $1,006,625.12. Following the sale, the insider now owns 106,134 shares in the company, valued at $7,951,559.28. This trade represents a 11.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael Alexander Smith sold 27,871 shares of the firm'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 transaction of $2,072,208.85. Following the completion of the sale, the insider now owns 67,856 shares in the company, valued at $5,045,093.60. This represents a 29.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,882 shares of company stock valued at $5,765,446 over the last three months. 4.60% of the stock is owned by insiders.

Insmed Stock Performance

Shares of INSM traded up $1.14 during mid-day trading on Thursday, hitting $73.81. 1,368,523 shares of the company's stock were exchanged, compared to its average volume of 2,245,552. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $80.53. The stock's 50-day simple moving average is $72.07 and its 200-day simple moving average is $65.65. The firm has a market cap of $13.20 billion, a price-to-earnings ratio of -13.09 and a beta of 1.12. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The firm had revenue of $93.40 million for the quarter, compared to the consensus estimate of $93.36 million. The company's revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.10) earnings per share. On average, equities research analysts expect that Insmed Incorporated will post -5.42 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Stifel Nicolaus increased their price objective on shares of Insmed from $74.00 to $88.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on shares of Insmed from $72.00 to $74.00 and gave the stock an "overweight" rating in a research note on Thursday, October 3rd. TD Cowen raised their target price on shares of Insmed from $75.00 to $98.00 and gave the company a "buy" rating in a research note on Friday, August 9th. Truist Financial reiterated a "buy" rating and issued a $105.00 target price (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. Finally, UBS Group raised their target price on shares of Insmed from $78.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $83.07.

Insmed Company 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.