Here’s What Lifted Insmed Incorporated (INSM) in Q3

Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. Global equities continue to rally in the third quarter, the period with double-digit YTD gains. Major US indices like Russell 1000®, Russell Midcap®, and Russell 2000® reached record highs in the period. In the quarter, the fund’s Investor Class fund ARTSX returned 8.69%, Advisor Class fund APDSX posted a return of 8.75%, and Institutional Class fund APHSX returned 8.73%, compared to a return of 12.19% for the Russell 2000 Growth Index. In addition, you can check the fund’s top 5 holdings to find out its best picks for 2025.

In its third-quarter 2025 investor letter, Artisan Small Cap Fund highlighted stocks such as Insmed Incorporated (NASDAQ:INSM). Insmed Incorporated (NASDAQ:INSM) is a biopharmaceutical company that develops therapeutic products for patients with serious and rare diseases. The one-month return of Insmed Incorporated (NASDAQ:INSM) was 15.07%, and its shares gained 190.08% of their value over the last 52 weeks. On November 14, 2025, Insmed Incorporated (NASDAQ:INSM) stock closed at $193.22 per share, with a market capitalization of $41.209 billion.

Artisan Small Cap Fund stated the following regarding Insmed Incorporated (NASDAQ:INSM) in its third quarter 2025 investor letter:

“Among our top contributors were Lattice Semiconductor, Modine and Insmed Incorporated (NASDAQ:INSM). Insmed is a commercial-stage biotech company focused on serious pulmonary diseases. Its lead product is ARIKAYCE®, an inhaled antibiotic that treats lung infections unresponsive to standard therapies. The company recently received FDA approval for Brinsupri™, the first once-daily oral treatment for non-cystic fibrosis bronchiectasis—a chronic and progressive lung condition with limited treatment options. With over one million diagnosed patients across the US, Europe and Japan, Brinsupri™ addresses a major unmet need, and we expect rapid adoption. In our view, Insmed also has a promising pipeline, including a third de-risked drug candidate with multibillion-dollar potential. Given the company’s increasing market capitalization, we began to pare back our CropSM position.”

Insmed (INSM) Soars After Raising $650 million

Insmed Incorporated (NASDAQ:INSM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 82 hedge fund portfolios held Insmed Incorporated (NASDAQ:INSM) at the end of the second quarter, which was 64 in the previous quarter. While we acknowledge the risk and potential of Insmed Incorporated (NASDAQ:INSM) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Insmed Incorporated (NASDAQ:INSM) and that has 10,000% upside potential, check out our report about this cheapest AI stock.

In another article, we covered Insmed Incorporated (NASDAQ:INSM) and shared Baron Health Care Fund’s views on the company. In addition, please check out our hedge fund investor letters Q3 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.