Insmed Incorporated (NASDAQ:INSM) Position Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in Insmed Incorporated (NASDAQ:INSM - Free Report) by 12.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,871,890 shares of the biopharmaceutical company's stock after purchasing an additional 214,130 shares during the period. Principal Financial Group Inc. owned 1.05% of Insmed worth $136,648,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Insmed by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company's stock valued at $278,432,000 after purchasing an additional 172,664 shares during the last quarter. Darwin Global Management Ltd. purchased a new position in Insmed during the second quarter worth about $237,076,000. Clearbridge Investments LLC lifted its position in Insmed by 76.8% in the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company's stock valued at $110,212,000 after purchasing an additional 714,539 shares during the period. Vestal Point Capital LP increased its position in Insmed by 113.3% during the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company's stock worth $116,800,000 after purchasing an additional 850,000 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Insmed by 10.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,444,266 shares of the biopharmaceutical company's stock worth $105,431,000 after acquiring an additional 137,670 shares during the period.

Insmed Stock Up 1.5 %

Shares of NASDAQ:INSM traded up $1.03 during trading on Friday, hitting $70.44. The company's stock had a trading volume of 5,932,421 shares, compared to its average volume of 2,217,081. The stock's 50-day moving average price is $72.36 and its two-hundred day moving average price is $71.77. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The company has a market capitalization of $12.60 billion, a PE ratio of -12.69 and a beta of 1.10. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The company had revenue of $93.40 million for the quarter, compared to analysts' expectations of $93.36 million. During the same quarter in the previous year, the company earned ($1.10) earnings per share. Insmed's quarterly revenue was up 18.1% compared to the same quarter last year. As a group, sell-side analysts expect that Insmed Incorporated will post -5.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Insmed from $74.00 to $83.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Insmed in a research note on Monday, September 9th. Bank of America lifted their target price on shares of Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Truist Financial restated a "buy" rating and set a $105.00 price objective (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. Finally, HC Wainwright reissued a "buy" rating and set a $90.00 price target on shares of Insmed in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Insmed presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.67.

Insider Activity

In other Insmed news, CEO William Lewis sold 18,750 shares of the firm's stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $69.91, for a total value of $1,310,812.50. Following the transaction, the chief executive officer now owns 384,960 shares of the company's stock, valued at $26,912,553.60. This trade represents a 4.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.60% of the company's stock.

Insmed 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.