Insmed Incorporated (NASDAQ:INSM) Short Interest Update

Insmed Incorporated (NASDAQ:INSM) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 12,940,000 shares, a decline of 8.6% from the January 15th total of 14,150,000 shares. Based on an average daily trading volume, of 946,400 shares, the days-to-cover ratio is presently 13.7 days. Currently, 15.3% of the company’s shares are sold short.

Several analysts have issued reports on INSM shares. Credit Suisse Group reissued an “outperform” rating and issued a $40.00 price objective on shares of Insmed in a research note on Thursday, January 2nd. Canaccord Genuity initiated coverage on Insmed in a research note on Thursday, January 2nd. They set a “buy” rating and a $20.00 target price on the stock. JMP Securities reiterated a “buy” rating and issued a $40.00 price target on shares of Insmed in a report on Wednesday, January 15th. Morgan Stanley raised their price target on Insmed from $37.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, HC Wainwright reissued a “buy” rating and set a $52.00 price target on shares of Insmed in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. Insmed currently has a consensus rating of “Buy” and a consensus price target of $41.25.

Shares of NASDAQ INSM traded up $0.02 during mid-day trading on Friday, reaching $30.64. The company had a trading volume of 378,580 shares. Insmed has a 52 week low of $15.33 and a 52 week high of $34.94. The business’s 50-day moving average is $24.91 and its 200-day moving average is $20.63.

In other Insmed news, CAO John Goll sold 25,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $20.80, for a total transaction of $520,000.00. 4.95% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Evolution Wealth Advisors LLC grew its stake in Insmed by 915.7% in the fourth quarter. Evolution Wealth Advisors LLC now owns 1,097 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 989 shares in the last quarter. NumerixS Investment Technologies Inc bought a new stake in Insmed during the 4th quarter valued at $43,000. Sowell Financial Services LLC purchased a new stake in shares of Insmed in the 4th quarter worth $64,000. SG Americas Securities LLC purchased a new stake in shares of Insmed in the 4th quarter worth $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Insmed by 17.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,818 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 854 shares in the last quarter.

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.

Further Reading: Sell-Side Analysts

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