Principal Financial Group Inc. Trims Stock Position in Insmed, Inc. $INSM

Principal Financial Group Inc. decreased its holdings in Insmed, Inc. (NASDAQ:INSM) by 10.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 771,358 shares of the biopharmaceutical company’s stock after selling 92,936 shares during the quarter. Principal Financial Group Inc.’s holdings in Insmed were worth $134,247,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC increased its holdings in Insmed by 42.1% during the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 53 shares during the last quarter. CoreCap Advisors LLC purchased a new position in shares of Insmed during the 4th quarter worth $27,000. Stone House Investment Management LLC bought a new stake in shares of Insmed during the 3rd quarter valued at $29,000. SBI Securities Co. Ltd. grew its position in shares of Insmed by 404.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 166 shares during the period. Finally, GraniteShares Advisors LLC purchased a new stake in shares of Insmed in the 4th quarter worth $30,000.

Analysts Set New Price Targets

A number of equities analysts recently commented on INSM shares. Bank of America raised their target price on Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Leerink Partners upped their price target on Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. Jefferies Financial Group started coverage on Insmed in a research note on Monday, March 16th. They issued a “buy” rating and a $228.00 price objective on the stock. Wells Fargo & Company lowered their price objective on Insmed from $208.00 to $175.00 and set an “overweight” rating on the stock in a research report on Monday, March 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Insmed in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $213.23.

Insmed Stock Performance

NASDAQ:INSM opened at $137.09 on Thursday. The company has a current ratio of 3.83, a quick ratio of 3.54 and a debt-to-equity ratio of 0.76. Insmed, Inc. has a 12-month low of $63.81 and a 12-month high of $212.75. The stock has a 50-day moving average price of $146.94 and a 200 day moving average price of $165.89. The stock has a market capitalization of $29.59 billion, a P/E ratio of -21.39 and a beta of 0.89.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) EPS for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.47). Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The business had revenue of $263.84 million during the quarter, compared to analysts’ expectations of $263.97 million. During the same period in the prior year, the firm posted ($1.32) earnings per share. The firm’s revenue for the quarter was up 152.6% on a year-over-year basis. Equities research analysts forecast that Insmed, Inc. will post -2.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Insmed news, CEO William Lewis sold 13,396 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $147.79, for a total value of $1,979,794.84. Following the sale, the chief executive officer owned 301,185 shares in the company, valued at $44,512,131.15. The trade was a 4.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Alexander Smith sold 19,638 shares of the stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $150.98, for a total transaction of $2,964,945.24. Following the transaction, the insider directly owned 51,871 shares of the company’s stock, valued at $7,831,483.58. This trade represents a 27.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 174,589 shares of company stock worth $27,441,807. 2.10% of the stock is owned by insiders.

About Insmed

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.