Insmed, Inc. $INSM Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in shares of Insmed, Inc. (NASDAQ:INSM) by 40.8% during the first quarter, Holdings Channel.com reports. The fund owned 63,259 shares of the biopharmaceutical company’s stock after selling 43,567 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Insmed were worth $10,344,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INSM. PKO Investment Management Joint Stock Co boosted its position in shares of Insmed by 4.4% in the 1st quarter. PKO Investment Management Joint Stock Co now owns 11,800 shares of the biopharmaceutical company’s stock valued at $1,930,000 after purchasing an additional 500 shares during the period. Values First Advisors Inc. increased its stake in Insmed by 7.1% in the 1st quarter. Values First Advisors Inc. now owns 2,203 shares of the biopharmaceutical company’s stock worth $360,000 after purchasing an additional 146 shares in the last quarter. SG Americas Securities LLC raised its holdings in Insmed by 105.4% during the 1st quarter. SG Americas Securities LLC now owns 137,149 shares of the biopharmaceutical company’s stock worth $22,427,000 after buying an additional 70,387 shares during the period. KRS Capital Management LLC acquired a new stake in Insmed during the 1st quarter worth about $203,000. Finally, Hsbc Holdings PLC lifted its stake in Insmed by 8,052.6% during the fourth quarter. Hsbc Holdings PLC now owns 123,267 shares of the biopharmaceutical company’s stock valued at $21,493,000 after buying an additional 121,755 shares in the last quarter.

Insmed Price Performance

Shares of Insmed stock opened at $103.38 on Friday. The firm has a fifty day simple moving average of $112.90 and a 200-day simple moving average of $143.82. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. Insmed, Inc. has a 1-year low of $90.39 and a 1-year high of $212.75. The stock has a market capitalization of $22.41 billion, a price-to-earnings ratio of -17.98 and a beta of 0.79.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm had revenue of $305.96 million during the quarter, compared to the consensus estimate of $300.81 million. During the same period in the prior year, the firm earned ($1.42) EPS. The business’s revenue was up 229.7% on a year-over-year basis. On average, sell-side analysts expect that Insmed, Inc. will post -2.55 earnings per share for the current year.

Insider Activity

In other Insmed news, COO Roger Adsett sold 88,060 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total value of $14,497,317.80. Following the completion of the sale, the chief operating officer owned 106,810 shares in the company, valued at approximately $17,584,130.30. This trade represents a 45.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sara Bonstein sold 2,404 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $245,857.08. Following the completion of the transaction, the chief financial officer owned 69,082 shares of the company’s stock, valued at $7,065,016.14. This trade represents a 3.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 172,987 shares of company stock valued at $25,286,564 in the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on INSM. Leerink Partners lifted their price objective on shares of Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. Bank of America raised their target price on Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Mizuho set a $192.00 price target on Insmed in a report on Tuesday, June 16th. Jefferies Financial Group started coverage on Insmed in a research report on Monday, March 16th. They set a “buy” rating and a $228.00 price target on the stock. Finally, HC Wainwright reissued a “buy” rating on shares of Insmed in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $211.86.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.