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

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on INSM. JPMorgan Chase & Co. boosted their price objective on shares of 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 increased their target price on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Truist Financial reissued a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. 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, Insmed currently has an average rating of “Moderate Buy” and an average price target of $83.67.

Insider Buying and Selling

In other Insmed news, insider Martina M.D. Flammer sold 6,172 shares of the firm’s stock in a transaction dated 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 directly owns 101,549 shares of the company’s stock, valued at $6,462,578.36. This trade represents a 5.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $69.91, for a total value of $1,310,812.50. Following the completion of the sale, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at $26,912,553.60. The trade was a 4.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 195,880 shares of company stock valued at $14,452,494. Insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

Several large investors have recently modified their holdings of INSM. Vestal Point Capital LP grew its holdings 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 purchasing an additional 850,000 shares during the last quarter. TimesSquare Capital Management LLC bought a new position in Insmed during the 3rd quarter worth approximately $35,322,000. Assenagon Asset Management S.A. lifted its position in shares of Insmed by 119.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 857,360 shares of the biopharmaceutical company’s stock worth $62,587,000 after purchasing an additional 466,306 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Insmed by 209.9% in the 3rd quarter. Victory Capital Management Inc. now owns 455,959 shares of the biopharmaceutical company’s stock valued at $33,285,000 after purchasing an additional 308,819 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Insmed during the third quarter worth $18,377,000.

Insmed Trading Up 0.4 %

NASDAQ:INSM traded up $0.29 during mid-day trading on Friday, hitting $76.58. The company had a trading volume of 2,112,773 shares, compared to its average volume of 1,776,483. The firm has a market cap of $13.70 billion, a P/E ratio of -13.80 and a beta of 1.12. The business’s fifty day moving average is $72.40 and its two-hundred day moving average is $72.93. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. Insmed has a fifty-two week low of $21.92 and a fifty-two week high of $80.63.

Insmed (NASDAQ:INSM) last posted 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 company had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.10) earnings per share. As a group, research analysts expect 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.