Principal Financial Group Inc. Has $136.65 Million Holdings in Insmed Incorporated (NASDAQ:INSM)

Principal Financial Group Inc. lifted its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 12.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,871,890 shares of the biopharmaceutical company’s stock after buying an additional 214,130 shares during the quarter. Principal Financial Group Inc. owned about 1.05% of Insmed worth $136,648,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in Insmed in the 3rd quarter valued at about $30,000. GAMMA Investing LLC grew its stake in Insmed by 71.3% in the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 224 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of Insmed by 522.5% during the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 627 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Insmed by 8.2% during the second quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 135 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Insmed by 2,348.8% in the 3rd quarter. Blue Trust Inc. now owns 1,959 shares of the biopharmaceutical company’s stock worth $131,000 after purchasing an additional 1,879 shares in the last quarter.

Insider Activity

In other news, CEO William Lewis sold 18,750 shares of Insmed 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 completion of 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 at the SEC website. Insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Truist Financial restated a “buy” rating and set a $105.00 price objective (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price target on shares of Insmed in a research report on Friday, November 1st. Bank of America boosted their price objective on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. upped their price target on Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Insmed has an average rating of “Moderate Buy” and a consensus target price of $83.67.

Insmed Stock Performance

NASDAQ INSM opened at $70.44 on Friday. 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 Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53. The company has a 50-day simple moving average of $72.36 and a 200 day simple moving average of $71.77.

Insmed (NASDAQ:INSM) last issued 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 firm had revenue of $93.40 million for the quarter, compared to the consensus estimate of $93.36 million. During the same period in the prior year, the firm posted ($1.10) EPS. The firm’s revenue was up 18.1% compared to the same quarter last year. On average, research analysts predict that Insmed Incorporated will post -5.44 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.