Insmed CFO Sara Bonstein steps down; shares fall
BUZZ-Insmed CFO Sara Bonstein steps down; shares fall Updates
** Shares of drugmaker Insmed INSM.O fall 8.4% to $101.93
** Sara Bonstein to step down as CFO, effective Oct 30
** Insmed is among companies quoted in analyst reports as potential takeover targets
** "One potential explanation for today's downside is the CFO departure may imply to investors that a takeout is not likely in the near-term - and we note we had heard more discussion of this possibility among investors lately" - RBC Capital Markets adds
** Co reaffirms FY26 guidance and says it has commenced a search to identify the next CFO
** Calling the transition "largely benign," RBC said the timing should support a smooth handover because the CFO change will occur after Insmed reports Q3 results on October 29
** Including session moves, stock has fallen 41.3% YTD
(Reporting by Miraanta Lowrance and Siddhi Mahatole in Bengaluru)
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