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

Principal Financial Group Inc. lifted its position in shares of Insmed, Inc. (NASDAQ:INSM) by 18.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 916,464 shares of the biopharmaceutical company’s stock after purchasing an additional 145,106 shares during the period. Principal Financial Group Inc.’s holdings in Insmed were worth $149,860,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. J. Safra Sarasin Holding AG increased its holdings 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 valued at $15,235,000 after buying an additional 86,720 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Insmed by 111.8% during the 1st quarter. International Assets Investment Management LLC now owns 699 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 369 shares during the last quarter. Diversify Wealth Management LLC purchased a new stake in Insmed during the 1st quarter worth about $279,000. Fifth Third Bancorp boosted its position in shares of Insmed by 4,983.8% during the 1st quarter. Fifth Third Bancorp now owns 18,200 shares of the biopharmaceutical company’s stock worth $2,976,000 after acquiring an additional 17,842 shares in the last quarter. Finally, American Trust boosted its position 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 acquiring an additional 196 shares in the last quarter.

Insmed Stock Down 0.3%

INSM opened at $109.81 on Thursday. Insmed, Inc. has a one year low of $90.39 and a one year high of $212.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. The stock has a market capitalization of $23.80 billion, a P/E ratio of -19.10 and a beta of 0.78. The business’s 50-day simple moving average is $105.54 and its 200-day simple moving average is $136.60.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. The firm had revenue of $305.96 million during the quarter, compared to analysts’ expectations of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business’s revenue was up 229.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.42) EPS. Analysts anticipate that Insmed, Inc. will post -2.52 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Bank of America raised their target price on Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Morgan Stanley raised Insmed from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $166.00 to $212.00 in a report on Monday, March 30th. Truist Financial cut their price objective on shares of Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Guggenheim reissued a “buy” rating and set a $207.00 price objective on shares of Insmed in a report on Friday, July 10th. Finally, Roth Capital restated a “buy” rating on shares of Insmed in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.05.

Insider Transactions at Insmed

In other news, CEO William Lewis sold 10,699 shares of Insmed stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $117.40, for a total value of $1,256,062.60. Following the transaction, the chief executive officer directly owned 259,058 shares of the company’s stock, valued at $30,413,409.20. The trade was a 3.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 2,370 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $242,379.90. Following the completion of the sale, the chief operating officer owned 98,603 shares of the company’s stock, valued at approximately $10,084,128.81. This trade represents a 2.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 54,590 shares of company stock valued at $5,793,738 over the last ninety days. 2.10% of the stock is owned by insiders.

Insmed Company 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.