Insmed Inc. (NASDAQ:INSM) shares dropped 3.8% during trading on Wednesday . The stock traded as low as $14.02 and last traded at $14.25, with a volume of 134,336 shares traded. The stock had previously closed at $14.82.

INSM has been the subject of several research analyst reports. Piper Jaffray Cos. reissued an “overweight” rating and issued a $24.00 price objective on shares of Insmed in a report on Thursday, June 9th. HC Wainwright reissued a “buy” rating on shares of Insmed in a report on Wednesday, June 15th. Finally, Zacks Investment Research lowered Insmed from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $23.57.

The company’s market capitalization is $911.45 million. The company’s 50-day moving average is $12.95 and its 200-day moving average is $11.95.

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Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by $0.03. On average, equities research analysts predict that Insmed Inc. will post ($2.25) EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the company. Pacad Investment Ltd. purchased a new stake in Insmed during the second quarter worth about $124,000. TFS Capital LLC purchased a new stake in Insmed during the second quarter worth about $137,000. Legal & General Group Plc boosted its stake in Insmed by 7.2% in the first quarter. Legal & General Group Plc now owns 14,289 shares of the biopharmaceutical company’s stock worth $182,000 after buying an additional 959 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Insmed during the second quarter worth about $278,000. Finally, State Board of Administration of Florida Retirement System boosted its stake in Insmed by 1.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 29,335 shares of the biopharmaceutical company’s stock worth $289,000 after buying an additional 278 shares during the period. 90.57% of the stock is currently owned by hedge funds and other institutional investors.

About Insmed

Insmed Incorporated is a biopharmaceutical company. The Company operates in the segment of development and commercialization of inhaled therapies for patients with serious lung diseases. The Company’s lead product candidate, ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for patients with nontuberculous mycobacteria (NTM) lung disease, a rare and often chronic infection that is capable of causing irreversible lung damage and can be fatal.

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