Insmed Incorporated (NASDAQ:INSM) stock revealed change of 97.52% away from 52-week low price and recently located move of -31.65% off 52-week high price. It has market worth of $2.20B. INSM stock has been recorded 19.60% away from 50 day moving average and 15.15% away from 200 day moving average. Moving closer, we can see that shares have been trading 19.38% off 20-day moving average.
On May 05, 2020, Insmed Incorporated (NASDAQ:INSM) revealed that it priced a registered underwritten public offering of 9,700,000 shares of its common stock at a price to the public of $23.25 per share. The gross proceeds to Insmed from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Insmed, are expected to be approximately $225.5 million. In addition, Insmed has granted the underwriters a 30-day option to purchase up to an additional 1,455,000 shares of common stock.
Insmed intends to use its net proceeds from this offering to continue to commercialize ARIKAYCE® (amikacin liposome inhalation suspension); conduct further trials of ARIKAYCE, including Insmed’s required confirmatory trial to assess and describe the clinical benefit of ARIKAYCE in patients with Mycobacterium avium complex (MAC) lung disease; conduct further trials of brensocatib (formerly known as INS1007), including its planned Phase 3 program in bronchiectasis; fund further clinical development of treprostinil palmitil (formerly known as INS1009); invest in third-party manufacturing capacity; fund business expansion activities in Europe and Japan; fund working capital, potential debt repayment, capital expenditures, and general research and development; and for other general corporate purposes, which may include the acquisition or in-license of additional compounds, product candidates, technology or businesses.
SVB Leerink is acting as sole bookrunning manager for the offering. Credit Suisse and Stifel are acting as co-lead managers for the offering. JMP Securities and H.C. Wainwright & Co. are acting as co-managers for the offering. The offering is expected to close on May 7, 2020, subject to the satisfaction of customary closing conditions.
The Healthcare sector company, Insmed Incorporated noticed change of -3.94% to $23.88 along volume of 4724806 shares in recent session compared to an average volume of 1.32M shares. The stock observed return of 14.37% in 5 days trading activity. The stock was at 50.09% over one month performance. INSM’s shares are at -27.72% for the quarter and driving a -25.82% return over the course of the past year.
The average volatility for the week at 8.81% and for month was at 7.95%. There are 92.19M shares outstanding and 86.28M shares are floated in market. Right now the stock beta is 2.75.