It's very interesting that we touched 15.75 today, which I called several days ago as the break-out price. When INSM moves past 15.75, I think we'll see some volume, and then it's off to the races!
well lets look at this way - what's going to move insm higher - with such low volume any move higher doesn't really mean much - we have no news until 1st quarter of 2014 - so what's going to propel insm to new highs with the much higher volume? iPlex? I do vaguely remember the conference call when sharsky opened his mouth after the arikace merger and laid it all out......
Eventually the shorts will have to cover - 4 million shares - from a pool where the float is steadily declining. If we now have 30 million shares held by the institutions, that only leaves 10-12 million shares to cover 4 million. The current action is likely short covering as well as buying.
lux, the answer to your question is "institutions." Institutions will move it higher when they're ready. I'd say based on the recent numbers, these guys are locked and loaded! The volume/break-out day always smacks the unprepared upside the head when they least expect it. Watch 15.75, that's the key resistance to break in my opinion.
They are still trying to churn the share price to break loose shares but we've gone from them posting 100,000 share block trades twice a day to 20,000 once a day. They've exhausted this price range and sellers who are taking profits before the end of the year. After the 1st of December the will elevate the range but will likely not be able to do anything but small pickups of shares until we break through to the $20 to $25 range.