Principal Financial Group Inc. Has $124.47 Million Holdings in Insmed, Inc. $INSM

Principal Financial Group Inc. reduced its position in Insmed, Inc. (NASDAQ:INSM) by 35.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 864,294 shares of the biopharmaceutical company’s stock after selling 483,733 shares during the quarter. Principal Financial Group Inc. owned approximately 0.41% of Insmed worth $124,467,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Spire Wealth Management grew its holdings in Insmed by 11.5% during the 3rd quarter. Spire Wealth Management now owns 777 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 80 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in Insmed by 59.6% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 217 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 81 shares during the period. Moody Aldrich Partners LLC increased its holdings in Insmed by 2.4% in the third quarter. Moody Aldrich Partners LLC now owns 5,551 shares of the biopharmaceutical company’s stock worth $799,000 after purchasing an additional 132 shares in the last quarter. AlphaQuest LLC lifted its stake in Insmed by 109.5% in the third quarter. AlphaQuest LLC now owns 287 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 150 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Insmed by 169.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 151 shares during the period.

Insmed Stock Performance

NASDAQ INSM opened at $153.98 on Tuesday. The firm has a market cap of $32.84 billion, a price-to-earnings ratio of -24.88 and a beta of 1.11. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.63 and a quick ratio of 4.34. The company has a fifty day moving average price of $179.18 and a 200-day moving average price of $159.33. Insmed, Inc. has a 1 year low of $60.40 and a 1 year high of $212.75.

Analysts Set New Price Targets

INSM has been the topic of a number of research reports. Rothschild & Co Redburn assumed coverage on shares of Insmed in a research report on Thursday, December 4th. They set a “buy” rating and a $263.00 target price on the stock. Wells Fargo & Company set a $195.00 target price on Insmed in a research note on Thursday, December 18th. Barclays initiated coverage on Insmed in a research note on Tuesday, January 27th. They set an “overweight” rating and a $231.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research note on Thursday, January 22nd. Finally, Citigroup reaffirmed an “outperform” rating on shares of Insmed in a research report on Thursday, December 18th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $206.04.

Insider Activity at Insmed

In related news, CEO William Lewis sold 19,215 shares of the firm’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $169.00, for a total transaction of $3,247,335.00. Following the completion of the sale, the chief executive officer owned 306,891 shares in the company, valued at approximately $51,864,579. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Elizabeth M. Anderson sold 10,000 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $195.87, for a total transaction of $1,958,700.00. Following the completion of the transaction, the director owned 63,729 shares in the company, valued at approximately $12,482,599.23. The trade was a 13.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 269,669 shares of company stock worth $49,310,335 in the last ninety days. Corporate insiders own 3.00% of the company’s stock.

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.