Insmed (NASDAQ:INSM) Trading Down 8.6% – Here’s What Happened

Shares of Insmed, Inc. (NASDAQ:INSM) traded down 8.6% on Wednesday . The company traded as low as $91.72 and last traded at $90.4850. 3,203,464 shares changed hands during trading, an increase of 13% from the average session volume of 2,839,563 shares. The stock had previously closed at $99.04.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Leerink Partners raised their price target on Insmed from $210.00 to $215.00 and gave the company an “outperform” rating in a report on Tuesday, March 24th. Truist Financial decreased their price objective on Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Roth Mkm reiterated a “buy” rating on shares of Insmed in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Insmed in a research report on Tuesday, April 21st. Finally, Barclays increased their price objective on Insmed from $231.00 to $237.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and an average price target of $212.50.

Insmed Price Performance

The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. The firm has a market capitalization of $19.91 billion, a P/E ratio of -15.98 and a beta of 0.79. The company has a 50-day moving average price of $128.45 and a 200-day moving average price of $153.16.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same period last year, the company earned ($1.42) EPS. The firm’s revenue was up 229.7% on a year-over-year basis. On average, sell-side analysts predict that Insmed, Inc. will post -2.56 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Michael Alexander Smith sold 19,638 shares of the firm’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $150.98, for a total value of $2,964,945.24. Following the transaction, the insider directly owned 51,871 shares in the company, valued at $7,831,483.58. This trade represents a 27.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Adsett sold 88,060 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $164.63, for a total value of $14,497,317.80. Following the completion of the transaction, the chief operating officer owned 106,810 shares in the company, valued at $17,584,130.30. This represents a 45.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,482 shares of company stock valued at $24,438,193 over the last 90 days. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in INSM. CIBC Private Wealth Group LLC boosted its position in shares of Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 53 shares during the last quarter. CoreCap Advisors LLC acquired a new stake in Insmed during the 4th quarter worth $27,000. SBI Securities Co. Ltd. raised its stake in Insmed by 404.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 166 shares during the period. GraniteShares Advisors LLC acquired a new stake in Insmed during the 4th quarter worth $30,000. Finally, Reflection Asset Management acquired a new stake in Insmed during the 4th quarter worth $30,000.

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.