Principal Financial Group Inc. Acquires 7,387 Shares of Insmed Incorporated (NASDAQ:INSM)

Principal Financial Group Inc. boosted its holdings in Insmed Incorporated (NASDAQ:INSM) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 536,941 shares of the biopharmaceutical company’s stock after purchasing an additional 7,387 shares during the period. Principal Financial Group Inc. owned approximately 0.53% of Insmed worth $17,257,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of INSM. William Blair Investment Management LLC raised its stake in shares of Insmed by 191.3% during the third quarter. William Blair Investment Management LLC now owns 2,386,996 shares of the biopharmaceutical company’s stock valued at $76,718,000 after acquiring an additional 1,567,605 shares during the last quarter. FMR LLC raised its stake in shares of Insmed by 10.9% during the second quarter. FMR LLC now owns 14,933,881 shares of the biopharmaceutical company’s stock valued at $411,279,000 after acquiring an additional 1,467,747 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Insmed by 11.4% during the second quarter. Vanguard Group Inc. now owns 9,396,749 shares of the biopharmaceutical company’s stock valued at $258,786,000 after acquiring an additional 959,588 shares during the last quarter. Sofinnova Investments Inc. bought a new position in shares of Insmed during the second quarter valued at about $13,328,000. Finally, Candriam Luxembourg S.C.A. bought a new position in shares of Insmed during the second quarter valued at about $8,042,000.

Several brokerages have recently commented on INSM. Stifel Nicolaus began coverage on shares of Insmed in a research note on Monday, October 12th. They set a “buy” rating and a $44.00 price objective for the company. Morgan Stanley upped their price objective on shares of Insmed from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, November 11th. BidaskClub raised shares of Insmed from a “hold” rating to a “buy” rating in a research note on Wednesday, October 21st. Finally, Zacks Investment Research raised shares of Insmed from a “sell” rating to a “hold” rating in a research note on Wednesday, November 4th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $41.56.

In related news, insider Christine A. Pellizzari sold 30,000 shares of the stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $34.28, for a total transaction of $1,028,400.00. Following the transaction, the insider now owns 94,348 shares in the company, valued at $3,234,249.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William Lewis sold 200,000 shares of the stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $34.03, for a total transaction of $6,806,000.00. Following the transaction, the chief executive officer now owns 129,787 shares in the company, valued at approximately $4,416,651.61. The disclosure for this sale can be found here. In the last quarter, insiders have sold 250,000 shares of company stock worth $8,448,000. Corporate insiders own 4.63% of the company’s stock.

Shares of INSM opened at $39.07 on Friday. The stock has a market cap of $3.98 billion, a PE ratio of -15.03 and a beta of 2.56. The company has a debt-to-equity ratio of 1.03, a quick ratio of 7.43 and a current ratio of 7.95. Insmed Incorporated has a fifty-two week low of $12.09 and a fifty-two week high of $40.71. The firm’s 50-day simple moving average is $35.22 and its two-hundred day simple moving average is $29.57.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.04). The business had revenue of $43.64 million during the quarter, compared to analysts’ expectations of $46.07 million. Insmed had a negative return on equity of 79.58% and a negative net margin of 145.14%. Insmed’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.68) EPS. Equities research analysts predict that Insmed Incorporated will post -2.61 EPS 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.

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Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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