Principal Financial Group Inc. Has $125.49 Million Position in Insmed Incorporated (NASDAQ:INSM)

Principal Financial Group Inc. decreased its stake in Insmed Incorporated (NASDAQ:INSM) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,817,643 shares of the biopharmaceutical company’s stock after selling 54,247 shares during the period. Principal Financial Group Inc. owned 1.02% of Insmed worth $125,492,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in INSM. V Square Quantitative Management LLC acquired a new stake in shares of Insmed in the third quarter valued at about $30,000. Spire Wealth Management acquired a new stake in shares of Insmed in the fourth quarter valued at about $47,000. Exchange Traded Concepts LLC increased its stake 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 buying an additional 627 shares during the period. Blue Trust Inc. increased its stake in shares of Insmed by 2,348.8% in the third quarter. Blue Trust Inc. now owns 1,959 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 1,879 shares during the period. Finally, JCIC Asset Management Inc. acquired a new stake in shares of Insmed in the third quarter valued at about $133,000.

Insiders Place Their Bets

In other news, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was 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 in the company, valued at $26,912,553.60. This trade represents a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Martina M.D. Flammer sold 3,344 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 102,766 shares in the company, valued at $6,773,307.06. This represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 495,135 shares of company stock worth $38,409,713. Corporate insiders own 4.60% of the company’s stock.

Insmed Stock Up 2.6 %

Shares of NASDAQ:INSM opened at $81.36 on Wednesday. The business’s 50 day simple moving average is $73.51 and its two-hundred day simple moving average is $73.31. The firm has a market cap of $14.56 billion, a P/E ratio of -14.66 and a beta of 1.11. 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 Incorporated has a 52-week low of $21.92 and a 52-week high of $82.04.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Insmed from $88.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. raised their target price on Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Insmed in a research note on Friday, November 1st. Truist Financial reaffirmed a “buy” rating and set a $105.00 target price (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. Finally, Guggenheim raised their target price on Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.71.

About Insmed

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.