If the SEC can nail those responsible for the destruction of shareholder value expected from the accumulation of millions shares by the Russell 3000 tracker funds, at a point when the shares were substantially undervalued - perhaps the guilty parties will give up the individual at Insmed who leaked that information.
May 15 -
Lazard Capital initiates coverage on Insmed with a Buy. PT $21.00.
May 22 -
Wedbush today ... raised its price target to $18.00 (from $11.00). Analyst Gregory R. Wade expects a positive outcome from ARIKACE Phase III trial for CF.
May 22 -
Leerink Swann today ... raised its price target to $22.00 (from $13.00). After speaking with multiple MEDACorp KOLs and performing an extensive review of applicable literature, we have developed more conviction that Arikace is poised to be become a first-in-line treatment for non-tuberculous mycobacteria (NTM) infections," said analyst Joseph P. Schwartz.
"We believe NTM may present an even more compelling market opportunity than CF, since there are no FDA approved treatments and 50,000 U.S. patients," he added.
May 23 -
The Insmed BOD adopts resolutions (details unknown) with relevance to a potential share offering.
May 30 -
Certain investors initiate a trading strategy which could only have been justified by access to the nonpublic information that the Insmed BOD had committed to a share offering with no minimum price limit.
Date ........ High ... Low
May 30 ... 14.30 ... 13.25
May 31 ... 14.00 ... 13.38
June 03 ... 13.66 ... 12.84
June 10 ... 13.23 ... 12.82
June 11 ... 13.08 ... 12.56
June 12 ... 13.15 ... 12.14
June 13 ... 12.81 ... 11.82
March 19 -
The Securities and Exchange Commission announced that New York-based hedge fund advisory firm Sigma Capital Management has agreed to pay nearly $14 million to settle charges that the firm engaged in insider trading based on nonpublic information obtained through one of its analysts about the quarterly earnings of Dell and Nvidia Corporation.