Insmed Incorporated (NASDAQ:INSM) Short Interest Down 9.3% in April

Insmed Incorporated (NASDAQ:INSMGet Free Report) saw a significant decrease in short interest in the month of April. As of April 30th, there was short interest totalling 8,530,000 shares, a decrease of 9.3% from the April 15th total of 9,400,000 shares. Based on an average daily volume of 1,760,000 shares, the short-interest ratio is currently 4.8 days.

Insider Buying and Selling

In related news, insider John Drayton Wise sold 5,088 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total transaction of $129,591.36. Following the sale, the insider now owns 123,259 shares of the company’s stock, valued at $3,139,406.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO William Lewis sold 22,198 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.52, for a total value of $566,492.96. Following the transaction, the chief executive officer now owns 384,125 shares in the company, valued at approximately $9,802,870. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Drayton Wise sold 5,088 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.47, for a total transaction of $129,591.36. Following the completion of the transaction, the insider now owns 123,259 shares of the company’s stock, valued at $3,139,406.73. The disclosure for this sale can be found here. Insiders have sold a total of 46,231 shares of company stock valued at $1,177,186 over the last ninety days. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

Hedge funds have recently modified their holdings of the business. Walleye Capital LLC bought a new position in Insmed in the third quarter worth about $1,820,000. Jennison Associates LLC purchased a new stake in Insmed during the fourth quarter valued at approximately $3,745,000. Graham Capital Management L.P. boosted its stake in Insmed by 352.5% in the third quarter. Graham Capital Management L.P. now owns 43,605 shares of the biopharmaceutical company’s stock valued at $1,101,000 after acquiring an additional 33,969 shares in the last quarter. Vanguard Group Inc. grew its holdings in Insmed by 7.7% in the third quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company’s stock worth $362,224,000 after purchasing an additional 1,024,956 shares during the last quarter. Finally, Trexquant Investment LP grew its holdings in Insmed by 898.8% in the third quarter. Trexquant Investment LP now owns 294,993 shares of the biopharmaceutical company’s stock worth $7,449,000 after purchasing an additional 265,457 shares during the last quarter.

Insmed Stock Performance

Insmed stock traded down $0.52 during mid-day trading on Wednesday, hitting $24.93. The company’s stock had a trading volume of 1,856,257 shares, compared to its average volume of 1,758,661. The stock has a market cap of $3.70 billion, a PE ratio of -4.77 and a beta of 0.93. Insmed has a one year low of $18.08 and a one year high of $32.00. The company has a 50 day moving average of $26.39 and a 200-day moving average of $27.10.

Insmed (NASDAQ:INSMGet Free Report) last issued its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.16. The company had revenue of $75.50 million during the quarter, compared to the consensus estimate of $77.76 million. Insmed’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.17) earnings per share. On average, equities research analysts forecast that Insmed will post -4.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Barclays increased their price target on shares of Insmed from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Morgan Stanley boosted their price target on Insmed from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, May 10th. StockNews.com upgraded Insmed from a “sell” rating to a “hold” rating in a research report on Tuesday. Truist Financial started coverage on Insmed in a research report on Tuesday, April 23rd. They set a “buy” rating and a $48.00 price objective on the stock. Finally, Mizuho increased their target price on shares of Insmed from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Monday. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $44.71.

Check Out Our Latest Stock Analysis on Insmed

Insmed Company Profile

(Get Free Report)

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.

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