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

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

Insiders Place Their Bets

In other Insmed news, CEO William Lewis sold 18,750 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total transaction of $1,309,500.00. Following the transaction, the chief executive officer now directly owns 384,960 shares in the company, valued at $26,885,606.40. This trade represents a 4.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Martina M.D. Flammer sold 3,344 shares of the stock in a transaction dated 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 owns 102,766 shares of the company’s stock, valued at $6,773,307.06. This represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,740 shares of company stock worth $7,161,294. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of INSM. V Square Quantitative Management LLC acquired a new position in shares of Insmed during the third quarter worth $30,000. GAMMA Investing LLC raised its holdings in Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Insmed by 522.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 627 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Insmed by 2,348.8% in the 3rd quarter. Blue Trust Inc. now owns 1,959 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 1,879 shares in the last quarter. Finally, JCIC Asset Management Inc. acquired a new stake in shares of Insmed during the third quarter worth about $133,000.

Analyst Ratings Changes

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

Insmed Price Performance

Shares of INSM stock traded down $0.24 on Friday, reaching $72.51. 1,695,908 shares of the company were exchanged, 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. The business has a 50-day moving average price of $71.18 and a 200 day moving average price of $72.57. The company has a market cap of $12.97 billion, a price-to-earnings ratio of -13.06 and a beta of 1.12. Insmed has a 1 year low of $21.92 and a 1 year high of $80.53.

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 the consensus estimate 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 prior year, the firm posted ($1.10) EPS. The company’s revenue was up 18.1% compared to the same quarter last year. Equities research analysts forecast that Insmed will post -5.44 earnings per share for the current fiscal 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.