Short Interest in Insmed Incorporated (NASDAQ:INSM) Increases By 18.7%

Insmed Incorporated (NASDAQ:INSM) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 15,440,000 shares, a growth of 18.7% from the December 15th 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.

Analysts Set New Price Targets

Several research firms recently commented on INSM. Truist Financial reissued a “buy” rating and issued a $105.00 price target (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. Bank of America raised their target price 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 reissued a “buy” rating and set a $90.00 price target on shares of Insmed in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price target on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.67.

Insmed Price Performance

INSM stock traded down $0.24 during trading on Friday, hitting $72.51. The company had a trading volume of 1,695,908 shares, compared to its average volume of 1,485,508. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The company has a fifty day moving average price of $71.18 and a two-hundred day moving average price of $72.57. Insmed has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The company has a market cap of $12.97 billion, a P/E ratio of -13.06 and a beta of 1.12.

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

Insider Buying and Selling

In related news, insider Martina M.D. Flammer sold 6,172 shares of Insmed stock in a transaction on Friday, January 10th. The stock was sold at an average price of $63.64, for a total value of $392,786.08. Following the transaction, the insider now owns 101,549 shares in the company, valued at approximately $6,462,578.36. This trade represents a 5.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $69.84, for a total value of $1,309,500.00. Following the completion of the sale, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at $26,885,606.40. The trade was a 4.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,740 shares of company stock valued at $7,161,294 over the last quarter. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of Insmed by 4.7% during 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 in the last quarter. Darwin Global Management Ltd. acquired a new stake in Insmed during the 2nd quarter worth approximately $237,076,000. Principal Financial Group Inc. lifted its stake in Insmed by 12.9% in the third quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock valued at $136,648,000 after buying an additional 214,130 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Insmed by 76.8% in the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after buying an additional 714,539 shares during the period. Finally, Vestal Point Capital LP increased its position in shares of Insmed by 113.3% during the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after acquiring an additional 850,000 shares in the last quarter.

Insmed Company Profile

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.