Core Insights - Short interest is a significant technical indicator for contrarian investors, and it is a key component of Sehaeffers' Expectational Analysis® [1][2] - The analysis of short interest helps identify potential stock squeezes, where short sellers may be forced to cover their positions, driving stock prices higher [2][4] Group 1: Short Interest Analysis - The latest analysis by Senior Quantitative Analyst Rocky White focuses on stocks with high short interest, indicating potential for price increases if short sellers capitulate [2][3] - A table compiled by White lists various stocks with their short interest percentages, changes, and average short prices, highlighting significant short interest in the biotechnology sector [4][5] - Biotech stocks are particularly targeted by short sellers due to their volatility and the impact of drug pipeline developments on stock performance [4][6] Group 2: Specific Stock Insights - Insmed Inc (NASDAQ: INSM) has experienced a 9% drop in short interest, with current short interest accounting for 8% of its float, leading to a potential 55% loss for short sellers if they entered at $33.66 [5] - Viking Therapeutics Inc (NASDAQ: VKTX) and TG Therapeutics Inc (NASDAQ: TGTX) also show significant short interest, with 17.1% and 23.4% of their floats sold short, respectively, and potential losses of 55% and 47% for short sellers [5] - The SPDR S&P Biotech ETF (XBI) has seen an increase in short interest from 56% in May 2023 to 64.7% in September 2024, indicating a growing bearish sentiment in the biotech sector [6] Group 3: Future Projections - Projections for 2024 suggest significant potential gains for INSM, VKTX, and TGTX, with expected increases of 141%, 215%, and 30%, respectively, if short sellers begin to cover their positions [7]

Shares of Insmed (INSM) have more than doubled in market value in the past six months against the industry's 1.1% fall. During this timeframe, the stock has also outperformed the sector and the S&P 500. The surge in stock price can be attributed to the company's progress with its two pipeline candidates, brensocatib and treprostinil palmitil inhalation powder (TPIP), which are being developed in separate clinical studies targeting multiple lung disorders. The company's shares are also trading above the 50-d ...

Insmed (INSM) reported a loss of $1.94 per share in second-quarter 2024, wider than the Zacks Consensus Estimate of a loss of $1.22. In the year-ago quarter, the company posted a loss of $1.78. Insmed generated total revenues of $90.3 million during the quarter, up 17% year over year. Quarterly sales beat the Zacks Consensus Estimate of $88.0 million. Quarter in Detail In the reported quarter, total revenues were generated entirely from product revenues of its only-marketed drug, Arikayce, which is approved ...

Core Insights - Insmed reported $90.34 million in revenue for Q2 2024, a 17% year-over-year increase, and a surprise of +2.71% over the Zacks Consensus Estimate of $87.96 million [1] - The company reported an EPS of -$1.94, which is a decline from -$1.78 a year ago, and a surprise of -59.02% compared to the consensus EPS estimate of -$1.22 [1] Revenue Breakdown - Revenue from Japan was $21.11 million, slightly above the two-analyst average estimate of $21.04 million [3] - Revenue from Europe and the rest of the world was $5.44 million, exceeding the two-analyst average estimate of $4.31 million [4] - Revenue from the U.S. was $63.79 million, surpassing the average estimate of $61.72 million from two analysts [5] Stock Performance - Insmed shares have returned -2.9% over the past month, compared to a -6.5% change in the Zacks S&P 500 composite [5] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [5]

Company Performance - Insmed reported a quarterly loss of $1.94 per share, which was worse than the Zacks Consensus Estimate of a loss of $1.22, and compared to a loss of $1.78 per share a year ago [1] - The company posted revenues of $90.34 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 2.71%, and up from $77.23 million in the same quarter last year [3] - Insmed has surpassed consensus revenue estimates two times over the last four quarters [3] Earnings Surprise and Outlook - The quarterly report represented an earnings surprise of -59.02%, with the company previously expected to post a loss of $1.22 per share but actually reporting a loss of $1.94 [2] - The current consensus EPS estimate for the upcoming quarter is -$1.02 on revenues of $92.89 million, and for the current fiscal year, it is -$4.71 on revenues of $353.25 million [8] Stock Performance and Industry Context - Insmed shares have increased approximately 129.1% since the beginning of the year, significantly outperforming the S&P 500's gain of 9% [4] - The Medical - Biomedical and Genetics industry, to which Insmed belongs, is currently ranked in the top 37% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [9]

Financial Performance - Product revenues for Q2 2024 reached $90,340, a 16.4% increase compared to $77,229 in Q2 2023[7] - Operating expenses for Q2 2024 totaled $379,244, an increase of 21.3% from $312,757 in Q2 2023[7] - Net loss for Q2 2024 was $300,609, compared to a net loss of $244,809 in Q2 2023, reflecting a 22.8% increase in losses[7] - Basic and diluted net loss per share for Q2 2024 was $(1.94), compared to $(1.78) in Q2 2023[7] - The net loss for the six months ended June 30, 2024, was $457.7 million, compared to a net loss of $404.6 million for the same period in 2023, reflecting an increase in losses[10] - The company reported a net loss of $300.6 million for the three months ended June 30, 2024, compared to a net loss of $244.8 million for the same period in 2023, representing a 22.8% increase in losses[22] Assets and Liabilities - Total current assets increased to $1,418,184, up 52.6% from $929,063 as of December 31, 2023[5] - Total assets increased to $1,810,118, up 36.0% from $1,329,837 as of December 31, 2023[5] - Current liabilities increased to $524,151, a significant rise from $225,629 at the end of 2023, indicating higher short-term obligations[5] - Shareholders' equity increased to $1,771,300, up from $1,661,760 as of December 31, 2023, reflecting a positive change in equity position[5] - The company reported cash and cash equivalents of $1,246.8 million, an increase from $482.4 million as of December 31, 2023[27] Cash Flow and Financing - Cash and cash equivalents rose to $1,246,799, significantly up from $482,374 at the end of 2023, indicating improved liquidity[5] - The company raised $713.2 million from the issuance of common stock during the six months ended June 30, 2024, compared to $38 million in the same period of the previous year[10] - The company experienced a net cash used in operating activities of $307 million for the six months ended June 30, 2024, compared to $269.1 million for the same period in 2023[10] - Net cash provided by financing activities was $784.5 million for the six months ended June 30, 2024, significantly higher than $43.9 million for the same period in 2023[158] - The company may need to raise additional capital to fund operations and commercialization efforts, particularly for ARIKAYCE and brensocatib, although it believes it has sufficient funds for at least the next 12 months[157] Research and Development - Research and development expenses decreased to $146,748 in Q2 2024, down 25.5% from $196,969 in Q2 2023[7] - The company expects to continue incurring consolidated operating losses while funding R&D activities for ARIKAYCE, brensocatib, TPIP, and other pipeline programs[12] - The company is developing brensocatib for bronchiectasis and other neutrophil-mediated diseases, and TPIP for pulmonary hypertension associated with interstitial lung disease and pulmonary arterial hypertension[12] - The company is advancing early-stage research programs across various technologies, including gene therapy and AI-driven protein engineering[95] Customer Concentration - The company relies on three largest customers for a significant portion of its revenue, with Customer A contributing 34%, Customer B 32%, and Customer C 18% for the six months ended June 30, 2024[16] - Customer A accounted for 34% of gross product revenue for the six months ended June 30, 2024, compared to 35% in the same period of 2023; Customer B represented 32% in 2024, down from 36% in 2023; and Customer C accounted for 18%, up from 17%[16] Acquisitions and Milestones - The Company acquired Adrestia Therapeutics in June 2023 for a total purchase price of $72.4 million, with potential contingent payments of up to $326.5 million based on future milestones[81] - In January 2023, the Company acquired Vertuis Bio for a total purchase price of $10.25 million, with additional contingent payments of up to $86.8 million based on development and sales milestones[82] - The Company made a milestone payment of $12.5 million to AstraZeneca upon the announcement of filing an NDA for brensocatib[148] Debt and Interest - The company reported a current portion of long-term debt of $790.553 million as of June 30, 2024, compared to $788.909 million as of December 31, 2023, indicating a slight increase[55] - Interest expense for the three months ended June 30, 2024, totaled $20.7 million, compared to $20.0 million for the same period in 2023[67] - The estimated fair value of the 0.75% convertible senior notes due 2028 was $1.2 billion as of June 30, 2024[38] - The estimated fair value of the 1.75% convertible senior notes due 2025 was $384.5 million as of June 30, 2024[38] Regulatory and Product Development - ARIKAYCE received accelerated approval in the US in September 2018 for the treatment of MAC lung disease, with subsequent approvals in Europe and Japan[95] - The company plans to file a New Drug Application (NDA) with the FDA for brensocatib in patients with bronchiectasis in Q4 2024[116] - The anticipated launch of brensocatib in the US is mid-2025, followed by launches in Europe and Japan in the first half of 2026[95] - The company emphasizes the importance of maintaining regulatory approvals and commercial readiness for its product candidates[95]

A replay of the conference call will be accessible approximately 1 hour after its completion through September 7, 2024, by dialing (800) 770-2030 (U.S.) and (609) 800-9909 (international) and referencing access code 7862189. A webcast of the call will also be archived for 90 days under the Investor Relations section of the Company's website at www.insmed.com. Insmed management will host a conference call for investors beginning at 8:00 a.m. ET on Thursday, August 8, 2024, to discuss the financial results an ...

BRIDGEWATER, N.J., June 27, 2024 /PRNewswire/ -- Insmed Incorporated (Nasdaq: INSM), a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases, today announced that it has called all $225 million aggregate principal amount of its outstanding 1.75% Convertible Senior Notes Due 2025 (the "Notes") (CUSIP No. 457669AA7) for redemption on August 9, 2024 (the "Redemption Date"). Insmed is redeeming the Notes as permitted under Section 11.03 of the indenture ...

Moderna stock is 1.7% lower to trade at $147.77 at last check, despite phase three trial data that indicated its combined Covid-19 and flu shot provided NVAX is down 12.4% to trade at $15.91 today, with no specific catalyst to explain the gap lower, and on track for its worst single-session loss since Feb. 28. Thanks to the Sanofi (SNY) deal earlier in May, NVAX is up 226% in 2024. The security fresh off a June 6, 52-week high of $23.85 as well. better protection than its standalone shots. MRNA is up 49.2% ...

BRIDGEWATER, N.J., June 7, 2024 /PRNewswire/ -- Insmed Incorporated (Nasdaq: INSM), a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases, today announced the granting of inducement awards to 15 new employees. In accordance with NASDAQ Listing Rule 5635(c)(4), the awards were approved by Insmed's Compensation Committee and made as a material inducement to each employee's entry into employment with the Company. In connection with the commencement of ...