Jennison Associates LLC Sells 40,479 Shares of Insmed, Inc. $INSM

Jennison Associates LLC lowered its holdings in shares of Insmed, Inc. (NASDAQ:INSM) by 6.7% during the 4th quarter, HoldingsChannel reports. The fund owned 562,296 shares of the biopharmaceutical company’s stock after selling 40,479 shares during the period. Jennison Associates LLC’s holdings in Insmed were worth $97,862,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. CIBC Private Wealth Group LLC boosted its stake in Insmed by 42.1% during the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 53 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in Insmed by 2.7% during the third quarter. Kingsview Wealth Management LLC now owns 2,321 shares of the biopharmaceutical company’s stock worth $334,000 after acquiring an additional 60 shares in the last quarter. Choreo LLC boosted its stake in Insmed by 2.9% during the third quarter. Choreo LLC now owns 2,319 shares of the biopharmaceutical company’s stock worth $334,000 after acquiring an additional 65 shares in the last quarter. ORG Partners LLC boosted its stake in Insmed by 12.7% during the fourth quarter. ORG Partners LLC now owns 657 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 74 shares in the last quarter. Finally, Spire Wealth Management boosted its stake in Insmed by 11.5% during the third quarter. Spire Wealth Management now owns 777 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 80 shares in the last quarter.

Insmed Stock Up 1.0%

Shares of Insmed stock opened at $136.33 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.54 and a current ratio of 3.83. The stock has a market capitalization of $29.43 billion, a PE ratio of -21.27 and a beta of 1.10. Insmed, Inc. has a 52-week low of $63.81 and a 52-week high of $212.75. The company has a 50-day simple moving average of $147.89 and a two-hundred day simple moving average of $166.19.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.47). The firm had revenue of $263.84 million during the quarter, compared to analysts’ expectations of $263.97 million. Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The firm’s quarterly revenue was up 152.6% on a year-over-year basis. During the same period last year, the firm posted ($1.32) earnings per share. On average, analysts anticipate that Insmed, Inc. will post -2.51 EPS for the current fiscal year.

Insider Activity

In other news, CEO William Lewis sold 13,396 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $147.79, for a total transaction of $1,979,794.84. Following the completion of the transaction, the chief executive officer directly owned 301,185 shares of the company’s stock, valued at $44,512,131.15. The trade was a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Alexander Smith sold 19,638 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $150.98, for a total transaction of $2,964,945.24. Following the transaction, the insider directly owned 51,871 shares of the company’s stock, valued at $7,831,483.58. The trade was a 27.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 179,777 shares of company stock valued at $28,252,720 over the last three months. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on INSM. Truist Financial set a $205.00 price objective on shares of Insmed in a research note on Monday, January 12th. Bank of America lifted their target price on shares of Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Roth Mkm reaffirmed a “buy” rating and issued a $212.00 target price on shares of Insmed in a report on Friday, April 17th. Mizuho lifted their target price on shares of Insmed from $204.00 to $206.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $230.00 target price on shares of Insmed in a report on Thursday, April 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $213.23.

About Insmed

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.