Insmed (INSM) Shares Down 7.7%

Insmed Incorporated (NASDAQ:INSM) shares fell 7.7% on Thursday . The company traded as low as $24.16 and last traded at $24.22. 809,209 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 981,056 shares. The stock had previously closed at $26.25.

A number of brokerages have recently weighed in on INSM. BidaskClub raised Insmed from a “sell” rating to a “hold” rating in a report on Monday, February 5th. ValuEngine raised Insmed from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. HC Wainwright reaffirmed a “buy” rating and set a $35.00 target price on shares of Insmed in a report on Thursday, January 4th. Zacks Investment Research raised Insmed from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Thursday, January 25th. Finally, Credit Suisse Group started coverage on Insmed in a report on Wednesday, January 17th. They set a “neutral” rating and a $31.00 target price on the stock. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Insmed currently has a consensus rating of “Buy” and an average price target of $36.67.

The company has a market cap of $1,820.00, a price-to-earnings ratio of -7.68 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 15.21 and a quick ratio of 15.21.

In related news, Director Donald J. Hayden, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $32.50, for a total transaction of $487,500.00. Following the sale, the director now directly owns 71,131 shares of the company’s stock, valued at $2,311,757.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.03% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. American International Group Inc. grew its holdings in Insmed by 4.6% in the fourth quarter. American International Group Inc. now owns 51,539 shares of the biopharmaceutical company’s stock valued at $1,607,000 after purchasing an additional 2,255 shares during the period. Virtus Fund Advisers LLC acquired a new stake in Insmed in the fourth quarter valued at approximately $358,000. UBS Asset Management Americas Inc. grew its holdings in Insmed by 79.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 45,939 shares of the biopharmaceutical company’s stock valued at $1,432,000 after purchasing an additional 20,344 shares during the period. BlackRock Inc. grew its holdings in Insmed by 11.7% in the fourth quarter. BlackRock Inc. now owns 7,830,604 shares of the biopharmaceutical company’s stock valued at $244,159,000 after purchasing an additional 817,915 shares during the period. Finally, State of Wisconsin Investment Board grew its holdings in Insmed by 61.3% in the fourth quarter. State of Wisconsin Investment Board now owns 74,200 shares of the biopharmaceutical company’s stock valued at $2,314,000 after purchasing an additional 28,200 shares during the period. 93.28% of the stock is currently owned by institutional investors.

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About Insmed

Insmed Incorporated is a biopharmaceutical company. The Company operates through development and commercialization of therapies for patients with rare diseases segment. Its lead product candidate is ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for adult patients with treatment refractory nontuberculous mycobacteria (NTM) lung disease caused by Mycobacterium avium complex (MAC).

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