Insmed Incorporated (NASDAQ:INSM) Sees Significant Increase in Short Interest

Insmed Incorporated (NASDAQ:INSM) was the recipient of a large growth in short interest in 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 trading volume of 1,550,000 shares, the short-interest ratio is currently 10.0 days.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Insmed

In other news, CFO Sara Bonstein sold 3,470 shares of Insmed stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $65.70, for a total transaction of $227,979.00. Following the transaction, the chief financial officer now directly owns 114,736 shares in the company, valued at approximately $7,538,155.20. This trade represents a 2.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction 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 transaction, the chief executive officer now owns 384,960 shares in the company, valued at approximately $26,912,553.60. This trade represents a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 195,880 shares of company stock valued at $14,452,494 in the last quarter. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

Institutional investors have recently bought and sold shares of the company. Capital CS Group LLC acquired a new stake in Insmed during the fourth quarter valued at $586,000. Orion Portfolio Solutions LLC lifted its position in shares of Insmed by 48.5% in the third quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock worth $2,050,000 after buying an additional 9,170 shares during the last quarter. Ally Bridge Group NY LLC lifted its position in shares of Insmed by 16.9% in the third quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock worth $11,011,000 after buying an additional 21,833 shares during the last quarter. Vestal Point Capital LP lifted its position in shares of Insmed by 113.3% in the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after buying an additional 850,000 shares during the last quarter. Finally, TimesSquare Capital Management LLC acquired a new stake in shares of Insmed in the third quarter worth about $35,322,000.

Insmed Stock Up 0.4 %

INSM traded up $0.29 during trading on Friday, reaching $76.58. 2,112,773 shares of the stock traded hands, compared to its average volume of 1,776,483. The stock has a market cap of $13.70 billion, a price-to-earnings ratio of -13.80 and a beta of 1.12. Insmed has a fifty-two week low of $21.92 and a fifty-two week high of $80.63. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The stock’s 50-day simple moving average is $72.40 and its two-hundred day simple moving average is $72.93.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The company had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $93.36 million. The company’s revenue was up 18.1% on a year-over-year basis. During the same period last year, the firm posted ($1.10) earnings per share. As a group, equities research analysts expect that Insmed will post -5.44 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.