Short Interest in Insmed Incorporated (NASDAQ:INSM) Increases By 8.0%

Insmed Incorporated (NASDAQ:INSM) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 13,200,000 shares, an increase of 8.0% from the September 15th total of 12,220,000 shares. Based on an average daily volume of 1,970,000 shares, the short-interest ratio is currently 6.7 days.

Insider Buying and Selling

In related news, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the sale, the insider now owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the sale, the insider now owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the sale, the insider now directly owns 67,856 shares in the company, valued at approximately $5,045,093.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,882 shares of company stock valued at $5,765,446. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning raised its position in shares of Insmed by 31.2% during the third quarter. Creative Planning now owns 44,914 shares of the biopharmaceutical company’s stock worth $3,279,000 after purchasing an additional 10,668 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Insmed by 522.5% during the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 627 shares during the period. Tobam acquired a new stake in shares of Insmed during the third quarter worth $464,000. Atomi Financial Group Inc. raised its position in Insmed by 1.4% during the third quarter. Atomi Financial Group Inc. now owns 23,248 shares of the biopharmaceutical company’s stock valued at $1,697,000 after buying an additional 314 shares during the period. Finally, GAMMA Investing LLC raised its position in Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 224 shares during the period.

Analyst Ratings Changes

INSM has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on Insmed from $60.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, July 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. UBS Group lifted their target price on Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Insmed in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. lifted their target price on Insmed from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.73.

Insmed Stock Down 0.6 %

INSM opened at $74.66 on Wednesday. The stock’s fifty day moving average is $73.96 and its 200-day moving average is $57.68. The company has a market capitalization of $11.09 billion, a PE ratio of -14.28 and a beta of 1.11. The company has a debt-to-equity ratio of 25.05, a quick ratio of 2.53 and a current ratio of 2.71. Insmed has a one year low of $21.92 and a one year high of $80.53.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The firm had revenue of $90.34 million during the quarter, compared to the consensus estimate of $87.95 million. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.78) earnings per share. On average, equities analysts predict that Insmed will post -5.41 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.