Principal Financial Group Inc. Sells 54,247 Shares of Insmed Incorporated (NASDAQ:INSM)

Principal Financial Group Inc. reduced its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,817,643 shares of the biopharmaceutical company’s stock after selling 54,247 shares during the quarter. Principal Financial Group Inc.’s holdings in Insmed were worth $125,492,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. CIBC Asset Management Inc lifted its holdings in Insmed by 3.5% during the third quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock worth $324,000 after acquiring an additional 149 shares during the period. Abel Hall LLC increased its position in Insmed by 4.7% in the fourth quarter. Abel Hall LLC now owns 3,333 shares of the biopharmaceutical company’s stock worth $230,000 after buying an additional 151 shares during the last quarter. Commerce Bank increased its position in Insmed by 2.4% in the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock worth $499,000 after buying an additional 163 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Insmed by 5.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,533 shares of the biopharmaceutical company’s stock worth $244,000 after buying an additional 183 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Insmed by 3.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,401 shares of the biopharmaceutical company’s stock worth $446,000 after buying an additional 186 shares during the last quarter.

Insmed Price Performance

NASDAQ:INSM opened at $81.36 on Wednesday. The firm has a market capitalization of $14.56 billion, a price-to-earnings ratio of -14.66 and a beta of 1.11. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $82.04. The stock has a fifty day moving average of $73.51 and a 200 day moving average of $73.31. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37.

Insider Activity at Insmed

In other Insmed news, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the completion of the sale, the chief executive officer now owns 384,960 shares of the company’s stock, valued at $26,912,553.60. The trade was a 4.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 91,140 shares of Insmed stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $80.00, for a total value of $7,291,200.00. Following the sale, the insider now directly owns 97,083 shares of the company’s stock, valued at approximately $7,766,640. This trade represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 495,135 shares of company stock valued at $38,409,713. Company insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

INSM has been the subject of a number of recent research reports. Truist Financial reissued a “buy” rating and issued a $105.00 target price (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. Guggenheim raised their target price on Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Morgan Stanley raised their target price on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Insmed in a research report on Friday, November 1st. Finally, Stifel Nicolaus lifted their price target on Insmed from $88.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.71.

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.