Principal Financial Group Inc. Cuts Stock Position in Insmed Incorporated (NASDAQ:INSM)

Principal Financial Group Inc. decreased its stake in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,817,643 shares of the biopharmaceutical company's stock after selling 54,247 shares during the quarter. Principal Financial Group Inc. owned about 1.02% of Insmed worth $125,492,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in Insmed during the 3rd quarter valued at approximately $30,000. Spire Wealth Management bought a new position in shares of Insmed during the 4th quarter valued at approximately $47,000. Exchange Traded Concepts LLC grew its holdings in shares of Insmed by 522.5% in the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company's stock valued at $55,000 after purchasing an additional 627 shares in the last quarter. Blue Trust Inc. increased its position in Insmed by 2,348.8% in the third quarter. Blue Trust Inc. now owns 1,959 shares of the biopharmaceutical company's stock worth $131,000 after purchasing an additional 1,879 shares during the last quarter. Finally, JCIC Asset Management Inc. purchased a new stake in Insmed during the third quarter valued at $133,000.

Insider Buying and Selling

In other Insmed news, CEO William Lewis sold 18,750 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $69.84, for a total value of $1,309,500.00. Following the completion of the sale, the chief executive officer now directly owns 384,960 shares in the company, valued at approximately $26,885,606.40. This represents a 4.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Martina M.D. Flammer sold 3,344 shares of the firm's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total value of $220,403.04. Following the transaction, the insider now owns 102,766 shares in the company, valued at approximately $6,773,307.06. This represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 532,207 shares of company stock valued at $41,400,465 over the last quarter. 4.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on INSM. Stifel Nicolaus dropped their price objective on shares of Insmed from $97.00 to $96.00 and set a "buy" rating for the company in a research note on Friday. Guggenheim lifted their price target on Insmed from $95.00 to $101.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Cantor Fitzgerald restated an "overweight" rating on shares of Insmed in a research report on Wednesday. Truist Financial raised their price objective on Insmed from $105.00 to $108.00 and gave the company a "buy" rating in a research note on Friday. Finally, Morgan Stanley boosted their target price on Insmed from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $91.00.

Insmed Trading Down 3.0 %

Shares of NASDAQ INSM traded down $2.55 during mid-day trading on Friday, reaching $81.06. The company had a trading volume of 2,722,240 shares, compared to its average volume of 1,948,698. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $84.91. The business's 50-day moving average is $74.11 and its 200-day moving average is $73.52. The stock has a market cap of $14.50 billion, a price-to-earnings ratio of -14.61 and a beta of 1.11. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM - Get Free Report) last issued its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.15). The business had revenue of $104.44 million for the quarter, compared to analyst estimates of $102.31 million. Equities analysts expect that Insmed Incorporated will post -5.42 earnings per share for the current year.

Insmed Company Profile

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.