Short Interest in Insmed Incorporated (NASDAQ:INSM) Expands By 15.9%

Insmed Incorporated (NASDAQ:INSM) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totalling 14,870,000 shares, an increase of 15.9% from the June 30th total of 12,830,000 shares. Based on an average trading volume of 3,520,000 shares, the short-interest ratio is presently 4.2 days.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a report on Thursday, June 20th. Mizuho boosted their target price on shares of Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a report on Friday, June 7th. Morgan Stanley boosted their target price on shares of Insmed from $60.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, July 12th. HC Wainwright boosted their target price on shares of Insmed from $70.00 to $90.00 and gave the company a “buy” rating in a report on Monday, July 8th. Finally, JPMorgan Chase & Co. lifted their price target on Insmed from $55.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.50.

Insider Activity at Insmed

In related news, CEO William Lewis sold 22,198 shares of Insmed stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.52, for a total value of $566,492.96. Following the sale, the chief executive officer now owns 384,125 shares in the company, valued at $9,802,870. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Sara Bonstein sold 11,088 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.32, for a total transaction of $280,748.16. Following the sale, the chief financial officer now owns 117,481 shares in the company, valued at approximately $2,974,618.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William Lewis sold 22,198 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.52, for a total transaction of $566,492.96. Following the sale, the chief executive officer now owns 384,125 shares in the company, valued at approximately $9,802,870. The disclosure for this sale can be found here. Insiders have sold a total of 295,842 shares of company stock worth $13,762,062 over the last quarter. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Insmed by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock worth $393,636,000 after purchasing an additional 383,714 shares during the period. Principal Financial Group Inc. increased its holdings in Insmed by 15.2% during the second quarter. Principal Financial Group Inc. now owns 1,657,760 shares of the biopharmaceutical company’s stock valued at $111,069,000 after buying an additional 218,480 shares during the last quarter. Capital International Investors purchased a new stake in Insmed during the first quarter valued at approximately $43,973,000. Norges Bank purchased a new stake in Insmed during the fourth quarter valued at approximately $45,029,000. Finally, Assenagon Asset Management S.A. increased its holdings in Insmed by 325.8% during the first quarter. Assenagon Asset Management S.A. now owns 1,211,560 shares of the biopharmaceutical company’s stock valued at $32,870,000 after buying an additional 927,040 shares during the last quarter.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $72.91 on Wednesday. Insmed has a fifty-two week low of $20.94 and a fifty-two week high of $78.87. The business has a 50-day simple moving average of $63.32 and a two-hundred day simple moving average of $39.85.

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