Insmed slips as investors digest a sharp post-earnings rally

Insmed Incorporated (INSM) is down 3.5% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely explanation is a bout of profit-taking after the stock’s outsized jump following second-quarter results, rather than a clearly new negative company-specific announcement. This could also be because investors are balancing very strong BRINSUPRI momentum and higher guidance against Insmed’s still-elevated operating spending as it scales commercialization and advances multiple late-stage programs.

Details:

Second-quarter total revenue reached $425.5 million, driven mainly by BRINSUPRI and supported by continued ARIKAYCE sales.

BRINSUPRI revenue was $309.2 million in the quarter, up 49% from the first quarter, and management raised 2026 BRINSUPRI revenue guidance to a range of $1.25 billion to $1.40 billion.

Insmed also lifted its combined peak revenue estimate for its three lead programs to more than $14 billion and noted a July supplemental filing with the FDA for ARIKAYCE in newly diagnosed MAC lung disease patients.

At the same time, quarterly R&D expense rose to $210.0 million and SG&A expense climbed to $247.5 million, showing the cost of building out both the launch and pipeline.

Sources:

Insmed, SEC

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$INSM Insider Trading Activity

$INSM insiders have traded $INSM stock on the open market 63 times in the past 6 months. Of those trades, 0 have been purchases and 63 have been sales.

Here’s a breakdown of recent trading of $INSM stock by insiders over the last 6 months:

WILLIAM LEWIS (Chair and CEO) has made 0 purchases and 39 sales selling 151,956 shares for an estimated $19,491,785.
ROGER ADSETT (Chief Operating Officer) has made 0 purchases and 5 sales selling 96,267 shares for an estimated $15,418,173.
MICHAEL ALEXANDER SMITH (Chief Legal Officer) has made 0 purchases and 8 sales selling 58,635 shares for an estimated $8,362,319.
MARTINA M.D. FLAMMER (Chief Medical Officer) has made 0 purchases and 9 sales selling 48,008 shares for an estimated $5,237,192.
SARA BONSTEIN (Chief Financial Officer) has made 0 purchases and 2 sales selling 10,676 shares for an estimated $1,206,898.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$INSM Hedge Fund Activity

We have seen 322 institutional investors add shares of $INSM stock to their portfolio, and 354 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

DARWIN GLOBAL MANAGEMENT, LTD. removed 4,128,093 shares (-19.7%) from their portfolio in Q1 2026, for an estimated $675,025,767
FMR LLC added 3,232,231 shares (+32.6%) to their portfolio in Q1 2026, for an estimated $528,534,413
ORBIS ALLAN GRAY LTD removed 2,307,133 shares (-55.2%) from their portfolio in Q1 2026, for an estimated $377,262,388
ARTISAN PARTNERS LIMITED PARTNERSHIP added 1,683,552 shares (+34.8%) to their portfolio in Q1 2026, for an estimated $275,294,423
CAPITAL WORLD INVESTORS added 1,362,291 shares (+inf%) to their portfolio in Q1 2026, for an estimated $222,761,824
PARADIGM BIOCAPITAL ADVISORS LP added 1,254,488 shares (+inf%) to their portfolio in Q1 2026, for an estimated $205,133,877
WESTFIELD CAPITAL MANAGEMENT CO LP added 1,035,938 shares (+239.5%) to their portfolio in Q1 2026, for an estimated $169,396,581

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$INSM Congressional Stock Trading

Members of Congress have traded $INSM stock 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $INSM stock by members of Congress over the last 6 months:

REPRESENTATIVE JOSH GOTTHEIMER sold up to $15,000 on 06/10.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$INSM Analyst Ratings

Wall Street analysts have issued reports on $INSM in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

HC Wainwright & Co. issued a "Buy" rating on 02/23/2026

To track analyst ratings and price targets for $INSM, check out Quiver Quantitative's $INSM forecast page.

$INSM Price Targets

Multiple analysts have issued price targets for $INSM recently. We have seen 15 analysts offer price targets for $INSM in the last 6 months, with a median target of $212.0.

Here are some recent targets:

Josh Schimmer from Evercore ISI Group set a target price of $160.0 on 06/22/2026
Jessica Fye from JP Morgan set a target price of $179.0 on 06/08/2026
Leonid Timashev from RBC Capital set a target price of $195.0 on 06/05/2026
Danielle Brill from Truist Securities set a target price of $185.0 on 05/14/2026
Benjamin Burnett from Wells Fargo set a target price of $160.0 on 05/08/2026
Vamil Divan from Guggenheim set a target price of $226.0 on 05/08/2026
Adam Walsh from Roth Capital set a target price of $212.0 on 04/17/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.