Assenagon Asset Management S.A. Raises Position in Insmed Incorporated (NASDAQ:INSM)

Assenagon Asset Management S.A. grew its stake in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 119.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 857,360 shares of the biopharmaceutical company's stock after purchasing an additional 466,306 shares during the period. Assenagon Asset Management S.A. owned approximately 0.58% of Insmed worth $62,587,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in INSM. JCIC Asset Management Inc. purchased a new stake in Insmed in the 3rd quarter valued at about $133,000. Allspring Global Investments Holdings LLC increased its stake in Insmed by 18.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 390,134 shares of the biopharmaceutical company's stock valued at $28,480,000 after buying an additional 62,061 shares during the last quarter. Blue Trust Inc. increased its stake in Insmed by 2,348.8% in the 3rd quarter. Blue Trust Inc. now owns 1,959 shares of the biopharmaceutical company's stock valued at $131,000 after buying an additional 1,879 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Insmed in the 3rd quarter valued at about $30,000. Finally, Creative Planning increased its stake in Insmed by 31.2% in the 3rd quarter. Creative Planning now owns 44,914 shares of the biopharmaceutical company's stock valued at $3,279,000 after buying an additional 10,668 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have commented on INSM. TD Cowen increased their price objective 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. HC Wainwright reiterated a "buy" rating and issued a $90.00 price objective on shares of Insmed in a research note on Thursday, August 29th. JPMorgan Chase & Co. increased their target price on shares of Insmed from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Thursday, October 3rd. Stifel Nicolaus increased their target price on shares of Insmed from $74.00 to $88.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Finally, Bank of America increased their target price on shares of Insmed from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Insmed has a consensus rating of "Moderate Buy" and a consensus price target of $82.73.

Insider Activity

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the sale, the insider now owns 100,100 shares in the company, valued at approximately $7,157,150. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the sale, the insider now owns 100,100 shares in the company, valued at approximately $7,157,150. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the transaction, the insider now owns 106,134 shares in the company, valued at approximately $7,951,559.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is currently owned by corporate insiders.

Insmed Price Performance

NASDAQ INSM traded down $0.75 on Friday, hitting $70.96. The stock had a trading volume of 667,234 shares, compared to its average volume of 2,295,836. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53. The company has a debt-to-equity ratio of 25.05, a quick ratio of 2.53 and a current ratio of 2.71. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of -13.71 and a beta of 1.11. The firm has a 50-day moving average of $73.93 and a 200-day moving average of $59.51.

Insmed (NASDAQ:INSM - Get Free Report) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The business had revenue of $90.34 million for the quarter, compared to analyst estimates of $87.95 million. During the same quarter in the previous year, the company earned ($1.78) EPS. Insmed's quarterly revenue was up 17.0% on a year-over-year basis. Equities analysts expect that Insmed Incorporated will post -5.41 EPS for the current year.

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.