Short Interest in Insmed Incorporated (NASDAQ:INSM) Expands By 18.7%

Insmed Incorporated (NASDAQ:INSM) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 15,440,000 shares, an increase 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 days-to-cover ratio is presently 10.0 days.

Insider Activity

In other news, insider Martina M.D. Flammer sold 3,344 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total value of $220,403.04. Following the sale, the insider now directly owns 102,766 shares in the company, valued at approximately $6,773,307.06. This trade represents a 3.15 % 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 the firm’s 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 completion of the sale, the chief executive officer now owns 384,960 shares in the company, valued at approximately $26,912,553.60. This represents a 4.64 % decrease in their ownership of the stock. 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. 4.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Insmed

A number of institutional investors have recently modified their holdings of INSM. Vestal Point Capital LP grew its holdings in Insmed by 113.3% in the 3rd 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 during the period. TimesSquare Capital Management LLC acquired a new stake in shares of Insmed in the third quarter worth approximately $35,322,000. Assenagon Asset Management S.A. grew its holdings in Insmed by 119.2% in the third quarter. Assenagon Asset Management S.A. now owns 857,360 shares of the biopharmaceutical company’s stock valued at $62,587,000 after purchasing an additional 466,306 shares during the period. Victory Capital Management Inc. increased its position in Insmed by 209.9% during the third quarter. Victory Capital Management Inc. now owns 455,959 shares of the biopharmaceutical company’s stock worth $33,285,000 after purchasing an additional 308,819 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in Insmed during the third quarter worth approximately $18,377,000.

Wall Street Analysts Forecast Growth

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

Insmed Price Performance

Shares of NASDAQ:INSM traded up $0.29 during trading on Friday, hitting $76.58. 2,112,773 shares of the stock were exchanged, compared to its average volume of 1,776,483. The company has a market cap of $13.70 billion, a PE ratio of -13.80 and a beta of 1.12. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The company has a fifty day moving average price of $72.40 and a two-hundred day moving average price of $72.93. Insmed has a 12-month low of $21.92 and a 12-month high of $80.63.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The business had revenue of $93.40 million for the quarter, compared to the consensus estimate of $93.36 million. During the same quarter in the previous year, the business earned ($1.10) earnings per share. Insmed’s quarterly revenue was up 18.1% on a year-over-year basis. On average, analysts forecast 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.