Insmed Incorporated (NASDAQ:INSM) Short Interest Update

Insmed Incorporated (NASDAQ:INSM) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 12,100,000 shares, a drop of 12.6% from the October 31st total of 13,850,000 shares. Based on an average daily trading volume, of 1,550,000 shares, the days-to-cover ratio is currently 7.8 days.

Insmed Stock Down 3.6 %

Shares of Insmed stock traded down $2.74 on Monday, hitting $72.42. The company had a trading volume of 1,737,273 shares, compared to its average volume of 2,222,179. The stock has a 50-day moving average of $72.20 and a 200-day moving average of $68.34. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. Insmed has a twelve month low of $21.92 and a twelve month high of $80.53. The firm has a market capitalization of $12.96 billion, a P/E ratio of -13.05 and a beta of 1.12.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The company had revenue of $93.40 million for the quarter, compared to analysts’ expectations of $93.36 million. During the same period in the previous year, the firm posted ($1.10) earnings per share. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. Research analysts predict that Insmed will post -5.44 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the sale, the insider now owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. This trade represents a 11.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of Insmed 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 owns 100,100 shares of the company’s stock, valued at $7,157,150. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock worth $5,765,446 in the last 90 days. 4.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Insmed

A number of hedge funds and other institutional investors have recently bought and sold shares of INSM. Tidal Investments LLC grew its stake in shares of Insmed by 447.0% during the 3rd quarter. Tidal Investments LLC now owns 24,102 shares of the biopharmaceutical company’s stock worth $1,759,000 after acquiring an additional 19,696 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Insmed in the third quarter valued at $248,000. Coldstream Capital Management Inc. bought a new stake in Insmed during the 3rd quarter worth about $255,000. Geode Capital Management LLC lifted its position in Insmed by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock worth $278,432,000 after buying an additional 172,664 shares in the last quarter. Finally, M&T Bank Corp bought a new position in shares of Insmed in the 3rd quarter valued at about $218,000.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Insmed in a research report on Friday, November 1st. UBS Group raised their price target on shares of Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, August 9th. StockNews.com cut shares of Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Stifel Nicolaus increased their price objective on shares of Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Insmed currently has an average rating of “Moderate Buy” and a consensus price target of $83.67.

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.