Insmed (NASDAQ:INSM) Shares Gap Up – Here’s What Happened

Insmed Incorporated (NASDAQ:INSM) gapped up before the market opened on Tuesday . The stock had previously closed at $66.61, but opened at $68.50. Insmed shares last traded at $70.67, with a volume of 236,403 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INSM. StockNews.com downgraded Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. TD Cowen upped their target price on Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Insmed in a report on Friday, November 1st. Truist Financial reiterated a “buy” rating and set a $105.00 price target (up from $100.00) on shares of Insmed in a report on Friday, November 1st. Finally, Stifel Nicolaus increased their price objective on shares of Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Insmed has an average rating of “Moderate Buy” and an average price target of $83.07.

Insmed Price Performance

The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The company’s 50 day moving average is $72.07 and its two-hundred day moving average is $65.60.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The company had revenue of $93.40 million for the quarter, compared to analysts’ expectations of $93.36 million. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.10) earnings per share. As a group, research analysts predict that Insmed Incorporated will post -5.42 EPS for the current year.

Insider Activity

In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the completion of the transaction, the insider now directly owns 67,856 shares in the company, valued at approximately $5,045,093.60. This represents a 29.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the sale, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC lifted its stake in Insmed by 123.1% in the first quarter. SG Americas Securities LLC now owns 8,508 shares of the biopharmaceutical company’s stock worth $231,000 after acquiring an additional 4,695 shares during the last quarter. Russell Investments Group Ltd. grew its position in Insmed by 15,915.2% in the 1st quarter. Russell Investments Group Ltd. now owns 22,101 shares of the biopharmaceutical company’s stock valued at $600,000 after buying an additional 21,963 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Insmed by 1.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 38,232 shares of the biopharmaceutical company’s stock valued at $1,037,000 after buying an additional 610 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Insmed by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock worth $393,636,000 after purchasing an additional 383,714 shares in the last quarter. Finally, Clearbridge Investments LLC purchased a new stake in shares of Insmed during the 1st quarter worth $25,242,000.

About Insmed

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.