Insmed, Inc. $INSM Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of Insmed, Inc. (NASDAQ:INSM) by 18.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 916,464 shares of the biopharmaceutical company’s stock after buying an additional 145,106 shares during the quarter. Principal Financial Group Inc. owned about 0.42% of Insmed worth $149,860,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. J. Safra Sarasin Holding AG grew its position in Insmed by 1,342.2% in the first quarter. J. Safra Sarasin Holding AG now owns 93,181 shares of the biopharmaceutical company’s stock worth $15,235,000 after acquiring an additional 86,720 shares during the period. International Assets Investment Management LLC raised its position in Insmed by 111.8% in the first quarter. International Assets Investment Management LLC now owns 699 shares of the biopharmaceutical company’s stock valued at $115,000 after purchasing an additional 369 shares during the period. Diversify Wealth Management LLC acquired a new position in shares of Insmed in the 1st quarter valued at $279,000. Fifth Third Bancorp lifted its stake in shares of Insmed by 4,983.8% in the 1st quarter. Fifth Third Bancorp now owns 18,200 shares of the biopharmaceutical company’s stock valued at $2,976,000 after purchasing an additional 17,842 shares during the last quarter. Finally, American Trust grew its holdings in shares of Insmed by 12.9% during the 1st quarter. American Trust now owns 1,710 shares of the biopharmaceutical company’s stock worth $280,000 after purchasing an additional 196 shares during the period.

Analyst Ratings Changes

INSM has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Insmed from $160.00 to $161.00 and gave the stock an “overweight” rating in a research report on Wednesday. Stifel Nicolaus increased their target price on shares of Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Insmed in a research note on Tuesday, April 21st. Leerink Partners lifted their price target on shares of Insmed from $210.00 to $215.00 and gave the company an “outperform” rating in a research report on Tuesday, March 24th. Finally, Bank of America boosted their price target on shares of Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.05.

Insider Buying and Selling

In related news, CEO William Lewis sold 21,398 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $103.32, for a total transaction of $2,210,841.36. Following the completion of the transaction, the chief executive officer directly owned 258,917 shares of the company’s stock, valued at $26,751,304.44. The trade was a 7.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Alexander Smith sold 6,149 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $108.47, for a total value of $666,982.03. Following the sale, the insider owned 41,613 shares in the company, valued at approximately $4,513,762.11. This trade represents a 12.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 54,590 shares of company stock valued at $5,793,738. Company insiders own 2.10% of the company’s stock.

Insmed Price Performance

Insmed stock opened at $109.81 on Thursday. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. Insmed, Inc. has a 52-week low of $90.39 and a 52-week high of $212.75. The firm has a market cap of $23.80 billion, a PE ratio of -19.10 and a beta of 0.78. The company’s 50 day moving average is $105.54 and its two-hundred day moving average is $136.60.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business had revenue of $305.96 million during the quarter, compared to the consensus estimate of $300.81 million. During the same quarter in the previous year, the firm posted ($1.42) earnings per share. The company’s quarterly revenue was up 229.7% compared to the same quarter last year. On average, research analysts expect that Insmed, Inc. will post -2.52 EPS for the current fiscal year.

Insmed Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.