Insmed Incorporated (NASDAQ:INSM) Sees Large Increase in Short Interest

Insmed Incorporated (NASDAQ:INSM) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 15,440,000 shares, an increase of 18.7% from the December 31st total of 13,010,000 shares. Based on an average trading volume of 1,550,000 shares, the short-interest ratio is currently 10.0 days.

Analyst Ratings Changes

Several equities analysts have recently commented on INSM shares. JPMorgan Chase & Co. increased their price objective on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Bank of America boosted their price objective on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Insmed in a report on Friday, November 1st. Finally, Truist Financial reissued a “buy” rating and issued a $105.00 price target (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and a consensus price target of $83.67.

Insiders Place Their Bets

In related news, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the completion of the sale, the chief executive officer now owns 384,960 shares in the company, valued at approximately $26,912,553.60. This trade represents a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Martina M.D. Flammer sold 3,344 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total transaction of $220,403.04. Following the completion of the transaction, the insider now owns 102,766 shares in the company, valued at approximately $6,773,307.06. The trade was a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,880 shares of company stock worth $14,452,494. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

Institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Insmed by 4.7% in the third quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock worth $278,432,000 after purchasing an additional 172,664 shares during the last quarter. Principal Financial Group Inc. raised its position in Insmed by 12.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock worth $136,648,000 after buying an additional 214,130 shares during the last quarter. Vestal Point Capital LP lifted its stake in Insmed by 113.3% during the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after acquiring an additional 850,000 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Insmed by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,444,266 shares of the biopharmaceutical company’s stock valued at $105,431,000 after acquiring an additional 137,670 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Insmed by 2.6% during the 3rd quarter. Wellington Management Group LLP now owns 962,459 shares of the biopharmaceutical company’s stock valued at $70,260,000 after acquiring an additional 24,025 shares during the last quarter.

Insmed Stock Up 0.4 %

INSM stock traded up $0.29 on Friday, reaching $76.58. 2,112,773 shares of the company traded hands, compared to its average volume of 1,776,483. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The firm has a fifty day simple moving average of $72.40 and a 200-day simple moving average of $72.93. Insmed has a one year low of $21.92 and a one year high of $80.63. The company has a market cap of $13.70 billion, a P/E ratio of -13.80 and a beta of 1.12.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $93.36 million. Insmed’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.10) EPS. Research analysts anticipate that Insmed will post -5.44 earnings per share for the current year.

About Insmed

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.