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

Insmed, Inc. (NASDAQ:INSM) shares fell 8.6% during mid-day trading on Wednesday . The stock traded as low as $91.72 and last traded at $90.4850. 3,203,464 shares were traded 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

Several brokerages recently weighed in on INSM. Wells Fargo & Company decreased their target price on Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Leerink Partners increased their target price on Insmed from $210.00 to $215.00 and gave the company an “outperform” rating in a research note on Tuesday, March 24th. Roth Mkm restated a “buy” rating on shares of Insmed in a research note on Monday. JPMorgan Chase & Co. decreased their target price on Insmed from $180.00 to $179.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Insmed in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Insmed currently has an average rating of “Moderate Buy” and an average price target of $212.50.

Insmed Stock Performance

The firm has a fifty day simple moving average of $128.45 and a 200 day simple moving average of $153.16. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The stock has a market cap of $19.91 billion, a price-to-earnings ratio of -15.98 and a beta of 0.79.

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

Insider Buying and Selling

In other news, COO Roger Adsett sold 88,060 shares of the stock in a transaction that occurred 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 directly owned 106,810 shares of the company’s stock, valued at approximately $17,584,130.30. This represents a 45.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael Alexander Smith sold 19,638 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 51,871 shares of the company’s stock, valued at approximately $7,831,483.58. The trade was a 27.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 160,482 shares of company stock valued at $24,438,193. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Insmed

Hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in Insmed during the 4th quarter valued at $506,625,000. Vanguard Group Inc. increased its holdings in Insmed by 13.0% during the 3rd quarter. Vanguard Group Inc. now owns 19,935,820 shares of the biopharmaceutical company’s stock valued at $2,870,957,000 after purchasing an additional 2,291,328 shares in the last quarter. RTW Investments LP increased its holdings in Insmed by 57.0% during the 4th quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company’s stock valued at $842,855,000 after purchasing an additional 1,758,321 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in Insmed by 49.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock valued at $711,076,000 after purchasing an additional 1,623,342 shares in the last quarter. Finally, Orbis Allan Gray Ltd acquired a new stake in Insmed during the 2nd quarter valued at $153,389,000.

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.