Insmed Incorporated (NASDAQ:INSM) Short Interest Update

Insmed Incorporated (NASDAQ:INSM) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 11,570,000 shares, a growth of 6.5% from the May 31st total of 10,860,000 shares. Based on an average daily volume of 3,270,000 shares, the days-to-cover ratio is presently 3.5 days.

Insmed Price Performance

NASDAQ INSM opened at $62.00 on Thursday. The firm has a market capitalization of $9.21 billion, a PE ratio of -11.85 and a beta of 1.16. Insmed has a 12 month low of $19.74 and a 12 month high of $70.65. The company’s 50 day simple moving average is $44.89 and its 200 day simple moving average is $33.90.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.22) by $0.16. The firm had revenue of $75.50 million for the quarter, compared to analyst estimates of $77.76 million. During the same quarter last year, the business posted ($1.17) earnings per share. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. Sell-side analysts anticipate that Insmed will post -4.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Insmed news, CFO Sara Bonstein sold 220,564 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $50.00, for a total transaction of $11,028,200.00. Following the completion of the transaction, the chief financial officer now directly owns 117,481 shares of the company’s stock, valued at approximately $5,874,050. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Sara Bonstein sold 220,564 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $50.00, for a total transaction of $11,028,200.00. Following the transaction, the chief financial officer now owns 117,481 shares of the company’s stock, valued at $5,874,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Lewis sold 22,198 shares of Insmed stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total value of $566,492.96. Following the completion of the transaction, the chief executive officer now owns 384,125 shares of the company’s stock, valued at $9,802,870. The disclosure for this sale can be found here. Insiders have sold 295,842 shares of company stock worth $13,762,062 in the last three months. 4.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Rafferty Asset Management LLC lifted its holdings in Insmed by 17.4% in the 4th quarter. Rafferty Asset Management LLC now owns 321,087 shares of the biopharmaceutical company’s stock valued at $9,950,000 after acquiring an additional 47,563 shares during the last quarter. Kingdon Capital Management L.L.C. bought a new stake in shares of Insmed in the 4th quarter worth approximately $12,551,000. Artia Global Partners LP acquired a new stake in Insmed during the fourth quarter valued at approximately $2,322,000. Norges Bank bought a new stake in Insmed during the fourth quarter worth approximately $45,029,000. Finally, Walleye Capital LLC acquired a new position in Insmed in the third quarter worth approximately $1,820,000.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com upgraded Insmed from a “sell” rating to a “hold” rating in a research note on Tuesday, May 14th. Morgan Stanley lifted their price target on shares of Insmed from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, May 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research report on Thursday, June 20th. TD Cowen raised their target price on shares of Insmed from $45.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Finally, Barclays increased their target price on Insmed from $40.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.31.

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.