Assenagon Asset Management S.A. Has $62.59 Million Stock Position in Insmed Incorporated (NASDAQ:INSM)

Assenagon Asset Management S.A. boosted its holdings in Insmed Incorporated (NASDAQ:INSM) by 119.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 857,360 shares of the biopharmaceutical company’s stock after acquiring an additional 466,306 shares during the quarter. Assenagon Asset Management S.A. owned 0.58% of Insmed worth $62,587,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Insmed by 6.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 146,912 shares of the biopharmaceutical company’s stock valued at $3,986,000 after purchasing an additional 8,877 shares in the last quarter. Diversified Trust Co boosted its holdings in Insmed by 5.2% during the 1st quarter. Diversified Trust Co now owns 21,684 shares of the biopharmaceutical company’s stock worth $588,000 after acquiring an additional 1,078 shares during the last quarter. Requisite Capital Management LLC bought a new stake in shares of Insmed in the 1st quarter worth $678,000. Fidelis Capital Partners LLC purchased a new stake in shares of Insmed in the first quarter valued at about $34,000. Finally, Essex Investment Management Co. LLC lifted its position in shares of Insmed by 0.6% during the first quarter. Essex Investment Management Co. LLC now owns 108,629 shares of the biopharmaceutical company’s stock valued at $2,947,000 after purchasing an additional 622 shares in the last quarter.

Insider Activity

In related news, insider Martina M.D. Flammer sold 13,436 shares of the company’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 transaction, the insider now directly owns 106,134 shares in the company, valued at approximately $7,951,559.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Insmed news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of Insmed stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the sale, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of the stock in a transaction dated 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 transaction, the insider now owns 106,134 shares in the company, valued at $7,951,559.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is currently owned by insiders.

Insmed Stock Performance

NASDAQ INSM opened at $71.71 on Friday. The company’s 50 day simple moving average is $73.93 and its two-hundred day simple moving average is $59.51. The company has a debt-to-equity ratio of 25.05, a current ratio of 2.71 and a quick ratio of 2.53. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $80.53. The stock has a market capitalization of $10.66 billion, a PE ratio of -13.71 and a beta of 1.11.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The company had revenue of $90.34 million during the quarter, compared to the consensus estimate of $87.95 million. During the same quarter in the previous year, the business earned ($1.78) EPS. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. Analysts predict that Insmed Incorporated will post -5.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on INSM. StockNews.com downgraded shares of Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. JPMorgan Chase & Co. boosted their price objective on Insmed from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. UBS Group raised their target price on Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, TD Cowen boosted their price target on shares of Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, August 9th. One equities 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, Insmed presently has an average rating of “Moderate Buy” and an average target price of $82.73.

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.