After learning that Ayer capital has been selling their shares due to fund closure and Hercules exercising their options we are still trading close to $9.00.
Without this forced selling we should be trading well into double digits
I am confident that the share price will rise from here due to russell and Phase three results in CF and phase two results in NTM.
In four trading days Insmed went up 44%, from 7.27 to a high of 10.44, before giving back 18%. In my opinion that would appear to be nothing other than normal, and healthy profit taking.
How many small cap biotechs get a check for more that 11 million dollars for a supposedly non-core pharmaceutical that many have said is dead and buried. When that news became official, the shares fell, which also IMHO was a classic case of buy on the rumor and sell on the news. This next leg up will be interesting with the Russell, the phase III CF results, and starting arikace for compassionate use in NTM patients that smoke all converging in a short time frame.