JPMorgan Files Schedule 13G/A Reporting 23.0M INSM Shares (10.8%)

Rhea-AI Filing Summary

JPMorgan Chase & Co. filed an amendment to Schedule 13G reporting beneficial ownership of 23,014,584 shares of Insmed Incorporated common stock (CUSIP 457669307), representing 10.8% of the class. The filing breaks down voting and dispositive powers: 20,997,990 shares with sole voting power and 22,971,006 shares with sole dispositive power; smaller amounts are held with shared powers. The filing lists affiliated entities through which holdings are held, including J.P. Morgan Trust Company of Delaware, J.P. Morgan Securities LLC, JPMorgan Chase Bank NA, and various asset management and international affiliates. The filing certifies the shares are held in the ordinary course of business and not for the purpose of influencing control.

Positive

• Transparent disclosure of a material institutional position (23,014,584 shares; 10.8% of class)
• Clear breakdown of voting and dispositive powers, aiding investor understanding of who controls votes

Negative

• None.

Insights

Securities Analyst

TL;DR: A large institutional holder disclosed a 10.8% stake in INSM, primarily held with sole voting and dispositive power across JPMorgan entities.

JPMorgan Chase & Co.'s Schedule 13G/A is a routine institutional ownership disclosure showing a significant, but passive, stake in Insmed. The breakdown of sole voting and dispositive powers suggests centralized control of voting decisions within JPMorgan affiliates while other subsidiaries may hold interests for clients or custody. The filing names multiple subsidiaries that hold the securities, indicating a combination of custody, proprietary, and asset-management activities. No indication is given of activist intent; the certification asserts ordinary-course holdings.

Corporate Governance Expert

TL;DR: This is a standard 13G/A disclosure reflecting institutional ownership without claimed intent to influence control.

The amendment consolidates identification of reporting persons and affiliated subsidiaries, clarifying which JPMorgan entities are associated with the reported position. From a governance perspective, the filing signals a sizable shareholder whose voting power is primarily held sole by JPMorgan, which could matter in proxy contexts. However, the statement explicitly disclaims acquisition for control purposes, consistent with a passive investor classification under Rule 13d-1(b). No governance actions or arrangements are disclosed.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

INSMED INCORPORATED

(Name of Issuer)

Common stock, par value $0.01 per share

(Title of Class of Securities)

457669307

(CUSIP Number)

08/29/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 457669307

1

Names of Reporting Persons

JPMORGAN CHASE & CO.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 20,997,990.00
6	Shared Voting Power 7,895.00
7	Sole Dispositive Power 22,971,006.00
8	Shared Dispositive Power 24,781.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

23,014,584.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.8 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: INSMED INCORPORATED
(b)	Address of issuer's principal executive offices: 700 US Highway 202/206 Bridgewater NJ 08807
Item 2.
(a)	Name of person filing: JPMORGAN CHASE & CO.
(b)	Address or principal business office or, if none, residence: 383 Madison Avenue,, New York, NY 10179
(c)	Citizenship: DE
(d)	Title of class of securities: Common stock, par value $0.01 per share
(e)	CUSIP No.: 457669307
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 23014584
(b)	Percent of class: 10.8 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 20997990
	(ii) Shared power to vote or to direct the vote: 7895
	(iii) Sole power to dispose or to direct the disposition of: 22971006
	(iv) Shared power to dispose or to direct the disposition of: 24781
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. J.P. Morgan Trust Company of Delaware; J.P. Morgan Securities LLC; JPMorgan Chase Bank, National Association; JPMorgan Asset Management (UK) Limited; J.P. MORGAN SE; J.P. Morgan (Suisse) SA; J.P. Morgan Investment Management Inc.; J.P. Morgan Private Investments Inc.; 55I, LLC
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. Not Applicable
Item 9.	Notice of Dissolution of Group.
	Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5. Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

JPMORGAN CHASE & CO.

Signature:	Rachel Tsvaygoft
Name/Title:	Vice President
Date:	09/04/2025

FAQ

How many shares of INSM does JPMorgan Chase & Co. report owning?

The filing reports beneficial ownership of 23,014,584 shares of INSM common stock.

What percentage of Insmed (INSM) does JPMorgan's holding represent?

The reported stake represents 10.8% of the class.

Does the filing indicate JPMorgan intends to influence control of Insmed?

No; the certification states the securities are held in the ordinary course of business and not to change or influence control.

Which JPMorgan subsidiaries are identified as holding the securities?

Identified entities include J.P. Morgan Trust Company of Delaware, J.P. Morgan Securities LLC, JPMorgan Chase Bank, N.A., JPMorgan Asset Management (UK) Limited, J.P. MORGAN SE, J.P. Morgan (Suisse) SA, J.P. Morgan Investment Management Inc., J.P. Morgan Private Investments Inc., and 55I, LLC.

Who signed the Schedule 13G/A and when was it signed?

The filing is signed by Rachel Tsvaygoft, Vice President, dated 09/04/2025.