Insmed Incorporated (NASDAQ:INSM) Short Interest Update

Insmed Incorporated (NASDAQ:INSM) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 13,200,000 shares, an increase of 8.0% from the September 15th total of 12,220,000 shares. Based on an average daily volume of 1,970,000 shares, the days-to-cover ratio is currently 6.7 days.

Insider Buying and Selling

In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the sale, the insider now owns 67,856 shares of the company’s stock, valued at approximately $5,045,093.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the transaction, the insider now directly owns 100,100 shares of the company’s stock, valued at $7,157,150. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Alexander Smith sold 27,871 shares of Insmed stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the transaction, the insider now owns 67,856 shares of the company’s stock, valued at $5,045,093.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,882 shares of company stock valued at $5,765,446. 4.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of INSM. Creative Planning increased its position in shares of Insmed by 31.2% in the third quarter. Creative Planning now owns 44,914 shares of the biopharmaceutical company’s stock worth $3,279,000 after acquiring an additional 10,668 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Insmed by 522.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 627 shares during the period. Tobam acquired a new stake in Insmed in the 3rd quarter valued at $464,000. Atomi Financial Group Inc. increased its holdings in Insmed by 1.4% in the 3rd quarter. Atomi Financial Group Inc. now owns 23,248 shares of the biopharmaceutical company’s stock valued at $1,697,000 after purchasing an additional 314 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Insmed by 71.3% in the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 224 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on INSM shares. Bank of America boosted their price target on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on shares of Insmed from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. UBS Group raised their price target on shares of Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Guggenheim lifted their price target on shares of Insmed from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Finally, TD Cowen upped their price objective on shares of Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.73.

Insmed Trading Up 2.7 %

INSM stock opened at $76.65 on Thursday. Insmed has a 52 week low of $21.92 and a 52 week high of $80.53. The company has a market cap of $11.39 billion, a price-to-earnings ratio of -14.66 and a beta of 1.11. The company has a quick ratio of 2.53, a current ratio of 2.71 and a debt-to-equity ratio of 25.05. The business has a fifty day simple moving average of $74.07 and a 200-day simple moving average of $57.81.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The business had revenue of $90.34 million during the quarter, compared to the consensus estimate of $87.95 million. Insmed’s revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.78) EPS. On average, equities research analysts expect that Insmed will post -5.41 EPS 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.