There was nothing in yesterday's presentation that we didn't already know. And the patents are not news (anyone can follow them).
I think we're up today simply because shorts have ran out of ammo (FINRA daily short data shows over the last two/three weeks)
This could be the start of a genuine short squeeze or at least, and end to drifting down. $16 should be the floor; there won't be a "correction" if there are no more shares available to short (AND it's the kind of situation where brokers won't allow clients to short anyway) and even if HHand/Jake1 take profits, their selling is not enough to take it down. Demand outstrips supply now - period. Only Insmed can f*** this up now by selling more stock (it's back towards $10 if they do, $20 if they don't)