Insmed Incorporated (NASDAQ:INSM) Short Interest Update

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

Insider Transactions at Insmed

In related news, CEO William Lewis sold 18,750 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $69.91, for a total value of $1,310,812.50. Following the sale, the chief executive officer now directly owns 384,960 shares in the company, valued at $26,912,553.60. This trade represents a 4.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Martina M.D. Flammer sold 3,344 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total transaction of $220,403.04. Following the transaction, the insider now owns 102,766 shares of the company’s stock, valued at approximately $6,773,307.06. This represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,740 shares of company stock worth $7,161,294 in the last quarter. 4.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Insmed

A number of hedge funds and other institutional investors have recently bought and sold shares of INSM. V Square Quantitative Management LLC bought a new position in shares of Insmed in the third quarter valued at about $30,000. GAMMA Investing LLC raised its holdings in Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 224 shares during the period. Exchange Traded Concepts LLC lifted its position in Insmed by 522.5% during the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 627 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Insmed by 2,348.8% during the third quarter. Blue Trust Inc. now owns 1,959 shares of the biopharmaceutical company’s stock worth $131,000 after acquiring an additional 1,879 shares during the period. Finally, JCIC Asset Management Inc. acquired a new position in shares of Insmed in the third quarter valued at approximately $133,000.

Insmed Stock Down 0.3 %

INSM traded down $0.24 on Friday, hitting $72.51. 1,695,908 shares of the company were exchanged, compared to its average volume of 1,485,508. The stock’s fifty day moving average is $71.18 and its 200-day moving average is $72.57. Insmed has a 12 month low of $21.92 and a 12 month high of $80.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The company has a market cap of $12.97 billion, a PE ratio of -13.06 and a beta of 1.12.

Insmed (NASDAQ:INSM) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $93.36 million. The company’s revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.10) earnings per share. Equities research analysts predict that Insmed will post -5.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Insmed in a report on Friday, November 1st. JPMorgan Chase & Co. increased their price target on Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Truist Financial reiterated a “buy” rating and set a $105.00 price objective (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. Finally, Bank of America increased their target price on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, October 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, Insmed has a consensus rating of “Moderate Buy” and a consensus target price of $83.67.

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.