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

Insmed Incorporated (NASDAQ:INSM) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 15,440,000 shares, a growth 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 presently 10.0 days.

Insider Activity at Insmed

In related news, CEO William Lewis sold 2,978 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.36, for a total value of $188,686.08. Following the completion of the sale, the chief executive officer now owns 392,589 shares in the company, valued at approximately $24,874,439.04. This represents a 0.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Martina M.D. Flammer sold 1,384 shares of Insmed stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $68.72, for a total value of $95,108.48. Following the transaction, the insider now owns 100,165 shares in the company, valued at $6,883,338.80. This represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,740 shares of company stock worth $7,161,294 in the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Avior Wealth Management LLC acquired a new stake in Insmed in the 4th quarter valued at about $157,000. Nisa Investment Advisors LLC increased its holdings in shares of Insmed by 5.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,533 shares of the biopharmaceutical company’s stock valued at $244,000 after purchasing an additional 183 shares in the last quarter. Atomi Financial Group Inc. raised its position in Insmed by 6.6% in the 4th quarter. Atomi Financial Group Inc. now owns 24,774 shares of the biopharmaceutical company’s stock worth $1,710,000 after purchasing an additional 1,526 shares during the last quarter. Park Avenue Securities LLC raised its position in Insmed by 42.1% in the 4th quarter. Park Avenue Securities LLC now owns 7,955 shares of the biopharmaceutical company’s stock worth $549,000 after purchasing an additional 2,358 shares during the last quarter. Finally, Capital CS Group LLC bought a new position in Insmed in the 4th quarter valued at $586,000.

Wall Street Analysts Forecast Growth

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

Insmed Price Performance

NASDAQ INSM traded down $0.24 during trading on Friday, reaching $72.51. 1,695,908 shares of the company traded hands, compared to its average volume of 1,485,508. Insmed has a 1-year low of $21.92 and a 1-year high of $80.53. The company has a market cap of $12.97 billion, a price-to-earnings ratio of -13.06 and a beta of 1.12. The stock’s 50 day moving average price is $71.18 and its two-hundred day moving average price is $72.57. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37.

Insmed (NASDAQ:INSM) last issued 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 business had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. During the same period in the previous year, the firm posted ($1.10) earnings per share. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, analysts anticipate 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.