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

Insmed Incorporated (NASDAQ:INSM - Get Free Report) saw a significant growth in short interest during the month of 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 volume of 1,550,000 shares, the days-to-cover ratio is currently 10.0 days.

Insider Activity

In other Insmed news, CEO William Lewis sold 31,805 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $70.18, for a total value of $2,232,074.90. Following the completion of the sale, the chief executive officer now owns 379,534 shares of the company's stock, valued at $26,635,696.12. The trade was a 7.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Martina M.D. Flammer sold 3,344 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total transaction of $220,403.04. Following the transaction, the insider now directly owns 102,766 shares in the company, 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 quarter, insiders have sold 104,740 shares of company stock valued at $7,161,294. 4.60% of the stock is owned by insiders.

Institutional Trading of Insmed

Several institutional investors have recently modified their holdings of the business. Private Advisor Group LLC acquired a new position in Insmed during the 2nd quarter worth about $575,000. Federated Hermes Inc. lifted its stake in shares of Insmed by 11,879.8% in the second quarter. Federated Hermes Inc. now owns 10,063 shares of the biopharmaceutical company's stock worth $674,000 after acquiring an additional 9,979 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in Insmed in the second quarter valued at approximately $449,000. Envestnet Asset Management Inc. increased its position in Insmed by 211.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 175,464 shares of the biopharmaceutical company's stock valued at $11,756,000 after purchasing an additional 119,214 shares during the period. Finally, Dimensional Fund Advisors LP bought a new position in Insmed during the 2nd quarter worth approximately $810,000.

Analyst Ratings Changes

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

Insmed Trading Down 0.3 %

Shares of INSM stock traded down $0.24 during mid-day trading on Monday, reaching $72.51. 1,695,908 shares of the stock traded hands, compared to its average volume of 1,485,508. The stock's fifty day simple moving average is $71.19 and its two-hundred day simple moving average is $72.72. Insmed has a 1-year low of $21.92 and a 1-year high of $80.53. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. 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 (NASDAQ:INSM - Get Free Report) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) 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 analyst estimates of $93.36 million. During the same quarter in the previous year, the company posted ($1.10) EPS. Insmed's revenue for the quarter was up 18.1% compared to the same quarter last year. On average, research analysts anticipate that Insmed will post -5.44 EPS 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.