Insmed, Inc. (NASDAQ:INSM) shares traded down 3.1% during trading on Tuesday . The stock traded as low as $29.42 and last traded at $31.78. 624,700 shares changed hands during trading, a decline of 9% from the average session volume of 685,028 shares. The stock had previously closed at $30.82.

Several research analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $35.00 target price on shares of Insmed in a report on Wednesday, September 6th. Evercore ISI lifted their target price on Insmed from $28.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, September 5th. Robert W. Baird reaffirmed a “positive” rating and set a $32.00 target price (up from $23.00) on shares of Insmed in a report on Wednesday, September 6th. Stifel Nicolaus reissued a “buy” rating and issued a $43.00 price objective (up from $27.00) on shares of Insmed in a research note on Wednesday, September 6th. Finally, Cowen and Company reissued an “outperform” rating and issued a $54.00 price objective on shares of Insmed in a research note on Wednesday, September 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Insmed currently has a consensus rating of “Hold” and a consensus target price of $34.50.

The company has a current ratio of 15.21, a quick ratio of 15.21 and a debt-to-equity ratio of 0.13.

In related news, Director Donald J. Hayden, Jr. sold 45,000 shares of Insmed stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $29.67, for a total transaction of $1,335,150.00. Following the transaction, the director now owns 71,131 shares in the company, valued at approximately $2,110,456.77. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Melvin Md Sharoky sold 50,000 shares of Insmed stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $27.37, for a total transaction of $1,368,500.00. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in shares of Insmed during the 2nd quarter worth about $129,000. BNP Paribas Arbitrage SA grew its stake in Insmed by 666.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,498 shares of the biopharmaceutical company’s stock valued at $129,000 after acquiring an additional 6,520 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new stake in shares of Insmed during the 2nd quarter valued at about $187,000. Virtu KCG Holdings LLC acquired a new stake in shares of Insmed during the 2nd quarter valued at about $201,000. Finally, Redmile Group LLC acquired a new stake in Insmed in the 2nd quarter worth approximately $212,000. Institutional investors own 74.26% of the company’s stock.

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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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