Insmed Incorporated (NASDAQ:INSM) Short Interest Up 18.7% in December

Insmed Incorporated (NASDAQ:INSM) was the recipient of a significant growth in short interest during 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 daily volume of 1,550,000 shares, the days-to-cover ratio is presently 10.0 days.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Bank of America boosted their price target on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Insmed in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Truist Financial reissued a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Insmed in a research 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.67.

Insider Activity at Insmed

In related news, CEO William Lewis sold 31,805 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $70.18, for a total value of $2,232,074.90. Following the completion of the transaction, the chief executive officer now directly owns 379,534 shares in the company, valued at approximately $26,635,696.12. This represents a 7.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Martina M.D. Flammer sold 6,172 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $63.64, for a total value of $392,786.08. Following the completion of the transaction, the insider now owns 101,549 shares of the company’s stock, valued at $6,462,578.36. The trade was a 5.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,740 shares of company stock worth $7,161,294. 4.60% of the stock is currently owned by insiders.

Institutional Trading of Insmed

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in Insmed by 4.7% during the third quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock valued at $278,432,000 after buying an additional 172,664 shares in the last quarter. Darwin Global Management Ltd. acquired a new stake in Insmed during the second quarter valued at approximately $237,076,000. Principal Financial Group Inc. raised its stake in Insmed by 12.9% during 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 raised its stake in Insmed by 76.8% during 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 in the last quarter. Finally, Vestal Point Capital LP raised its stake in Insmed by 113.3% during the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after buying an additional 850,000 shares in the last quarter.

Insmed Stock Down 0.3 %

Shares of NASDAQ:INSM traded down $0.24 during trading on Friday, hitting $72.51. The company’s stock had a trading volume of 1,695,908 shares, compared to its average volume of 1,485,508. 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 $80.53. The stock’s 50-day moving average price is $71.18 and its two-hundred day moving average price is $72.57. The company has a market capitalization of $12.97 billion, a PE ratio of -13.06 and a beta of 1.12.

Insmed (NASDAQ:INSM) last released its quarterly 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 company had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. During the same quarter last year, the business posted ($1.10) EPS. The business’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, sell-side analysts expect that Insmed will post -5.44 EPS for the current year.

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.