Jennison Associates LLC Purchases 24,973 Shares of Insmed Incorporated (NASDAQ:INSM)

Jennison Associates LLC lifted its position in Insmed Incorporated (NASDAQ:INSM) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 769,253 shares of the biopharmaceutical company’s stock after buying an additional 24,973 shares during the period. Jennison Associates LLC’s holdings in Insmed were worth $56,155,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of Insmed by 8.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 135 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Insmed by 3.5% in the third quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock valued at $324,000 after buying an additional 149 shares during the period. CWM LLC increased its position in shares of Insmed by 11.0% during the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after acquiring an additional 155 shares in the last quarter. Commerce Bank raised its holdings in shares of Insmed by 2.4% during the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock worth $499,000 after acquiring an additional 163 shares during the period. Finally, GAMMA Investing LLC lifted its position in Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 224 shares in the last quarter.

Insiders Place Their Bets

In other 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 directly owns 106,134 shares in the company, valued at approximately $7,951,559.28. This trade represents a 11.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Alexander Smith sold 27,871 shares of Insmed 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 sale, the insider now directly owns 67,856 shares in the company, valued at $5,045,093.60. This trade represents a 29.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock worth $5,765,446 over the last three months. Insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on INSM. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. UBS Group boosted their target price on Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, August 9th. StockNews.com cut shares of Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Truist Financial reaffirmed a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their price objective on Insmed from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.07.

Insmed Trading Down 1.4 %

Shares of Insmed stock opened at $72.67 on Thursday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The firm has a 50-day moving average of $72.07 and a 200-day moving average of $65.60. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53. The stock has a market cap of $13.00 billion, a PE ratio of -13.09 and a beta of 1.12.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $93.36 million. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the prior year, the company earned ($1.10) earnings per share. As a group, sell-side analysts forecast that Insmed Incorporated will post -5.42 EPS for the current year.

About Insmed

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.