Insmed Gains 0.71% as $270M Volume Marks 49.69% Drop and 421st Rank in Trading Activity

Insmed (INSM) closed 0.71% higher on October 6, 2025, with a trading volume of $270 million, representing a 49.69% decline from the previous day. The stock ranked 421st in trading activity among the day's market participants.

To accurately execute the back-test, several implementation details require clarification. The universe definition is critical—determining whether to include all U.S.-listed stocks, S&P 500 constituents, or specific indices like the Nasdaq-100. Additionally, the treatment of ADRs and OTC listings across exchanges must be addressed to ensure consistency in the selection criteria.

Weighting and rebalancing strategies will influence the basket's performance. Options include equal-weighting the 500 names, capital-weighting based on trading volumes, or adopting alternative schemes. The execution price parameters are equally important: decisions must be made on whether to purchase at the day's close and exit at the next day's close (T+1), or to buy at the next day's open and exit at the same day's close. These choices will impact the back-test's accuracy and real-world applicability.

Trading frictions, such as commission fees and slippage, should also be considered to reflect realistic trading conditions. Furthermore, establishing a benchmark—such as the S&P 500 ETF (SPY)—will provide a reference point to evaluate the strategy's effectiveness. Once these parameters are finalized, the back-test can proceed with a structured retrieval plan.