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

Insmed Incorporated (NASDAQ:INSM) shares 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 changing hands.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. StockNews.com lowered shares of Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Bank of America upped their price target on shares of Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. Finally, Truist Financial restated a “buy” rating and issued a $105.00 price target (up from $100.00) on shares of Insmed in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.07.

Insmed Price Performance

The company has a 50-day simple moving average of $72.07 and a 200-day simple moving average of $65.60. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insmed (NASDAQ:INSM) last released its quarterly earnings data 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 firm had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. Insmed’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the business posted ($1.10) EPS. As a group, sell-side analysts anticipate that Insmed Incorporated will post -5.42 EPS for the current year.

Insider Activity at Insmed

In other news, insider Michael Alexander Smith sold 27,871 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the sale, the insider now directly owns 67,856 shares of the company’s stock, valued at $5,045,093.60. The trade was a 29.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the transaction, the insider now owns 106,134 shares in the company, valued at $7,951,559.28. This represents a 11.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock worth $5,765,446 in the last 90 days. 4.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Insmed

Several hedge funds and other institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new stake in Insmed during the 3rd quarter valued at $30,000. EntryPoint Capital LLC bought a new position in shares of Insmed in the 1st quarter worth $33,000. GAMMA Investing LLC lifted its holdings in Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 224 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Insmed by 83.4% during the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 287 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Insmed by 522.5% in the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 627 shares in the last quarter.

Insmed Company Profile

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.