Insmed Incorporated (NASDAQ:INSM) Short Interest Up 10.9% in June

Insmed Incorporated (NASDAQ:INSM) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 12,830,000 shares, an increase of 10.9% from the June 15th total of 11,570,000 shares. Based on an average trading volume of 3,470,000 shares, the days-to-cover ratio is presently 3.7 days.

Insmed Stock Performance

INSM traded up $0.51 on Tuesday, reaching $77.98. The company’s stock had a trading volume of 2,077,623 shares, compared to its average volume of 2,598,425. The stock has a 50 day moving average of $51.35 and a two-hundred day moving average of $35.98. Insmed has a fifty-two week low of $20.16 and a fifty-two week high of $78.87.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.16. The business had revenue of $75.50 million during the quarter, compared to analyst estimates of $77.76 million. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period last year, the company earned ($1.17) earnings per share. Research analysts predict that Insmed will post -4.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INSM. JPMorgan Chase & Co. boosted their price target on shares of Insmed from $55.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. TD Cowen boosted their price target on shares of Insmed from $45.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Morgan Stanley boosted their price target on shares of Insmed from $60.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday. Barclays boosted their price target on shares of Insmed from $40.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Finally, The Goldman Sachs Group boosted their price target on shares of Insmed from $74.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Insmed has an average rating of “Moderate Buy” and a consensus target price of $74.50.

Insider Activity

In other Insmed news, CEO William Lewis sold 22,198 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.52, for a total value of $566,492.96. Following the transaction, the chief executive officer now owns 384,125 shares of the company’s stock, valued at $9,802,870. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Insmed news, CEO William Lewis sold 22,198 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.52, for a total value of $566,492.96. Following the transaction, the chief executive officer now owns 384,125 shares of the company’s stock, valued at $9,802,870. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Drayton Wise sold 5,088 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total transaction of $129,591.36. Following the completion of the transaction, the insider now directly owns 123,259 shares in the company, valued at approximately $3,139,406.73. The disclosure for this sale can be found here. In the last quarter, insiders have sold 295,842 shares of company stock valued at $13,762,062. 4.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Insmed

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new stake in shares of Insmed in the fourth quarter valued at approximately $25,000. EntryPoint Capital LLC acquired a new stake in shares of Insmed in the first quarter valued at approximately $33,000. Fidelis Capital Partners LLC acquired a new stake in shares of Insmed in the first quarter valued at approximately $34,000. CWM LLC boosted its holdings in shares of Insmed by 11.0% in the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 155 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Insmed during the first quarter worth $59,000.

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.