Insmed Incorporated (NASDAQ:INSM) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in shares of Insmed Incorporated (NASDAQ:INSMFree Report) by 5.4% in the 4th quarter, Holdings Channel reports. The fund owned 1,359,563 shares of the biopharmaceutical company’s stock after acquiring an additional 69,281 shares during the quarter. Principal Financial Group Inc.’s holdings in Insmed were worth $42,133,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. QRG Capital Management Inc. purchased a new stake in shares of Insmed during the fourth quarter worth approximately $246,000. Calton & Associates Inc. acquired a new stake in Insmed in the fourth quarter valued at $248,000. E Fund Management Co. Ltd. boosted its position in shares of Insmed by 22.3% during the 4th quarter. E Fund Management Co. Ltd. now owns 17,178 shares of the biopharmaceutical company’s stock worth $532,000 after purchasing an additional 3,130 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Insmed by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,128,436 shares of the biopharmaceutical company’s stock worth $34,970,000 after buying an additional 28,629 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Insmed by 21.4% during the 4th quarter. Victory Capital Management Inc. now owns 18,797 shares of the biopharmaceutical company’s stock valued at $583,000 after acquiring an additional 3,311 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Truist Financial reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Insmed in a research note on Thursday. Mizuho boosted their price objective on shares of Insmed from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday. Guggenheim raised their target price on shares of Insmed from $52.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Wells Fargo & Company restated an “overweight” rating and set a $55.00 target price on shares of Insmed in a research report on Monday, April 1st. Finally, HC Wainwright reiterated a “buy” rating and issued a $52.00 price target on shares of Insmed in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.71.

View Our Latest Research Report on INSM

Insmed Stock Up 0.7 %

Shares of NASDAQ INSM opened at $25.10 on Friday. The firm’s 50-day simple moving average is $26.39 and its 200 day simple moving average is $27.10. The stock has a market cap of $3.73 billion, a P/E ratio of -4.80 and a beta of 0.93. Insmed Incorporated has a fifty-two week low of $18.08 and a fifty-two week high of $32.00.

Insmed (NASDAQ:INSMGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.16. The company had revenue of $75.50 million during the quarter, compared to analyst estimates of $77.76 million. The company’s revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the company posted ($1.17) earnings per share. On average, sell-side analysts anticipate that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Roger Adsett sold 7,857 shares of Insmed stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.50, for a total transaction of $200,353.50. Following the transaction, the chief operating officer now directly owns 155,220 shares of the company’s stock, valued at $3,958,110. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Insmed news, insider John Drayton Wise sold 5,088 shares of Insmed stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total value of $129,591.36. Following the transaction, the insider now owns 123,259 shares in the company, valued at $3,139,406.73. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Roger Adsett sold 7,857 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.50, for a total value of $200,353.50. Following the sale, the chief operating officer now owns 155,220 shares of the company’s stock, valued at approximately $3,958,110. The disclosure for this sale can be found here. Insiders sold 46,231 shares of company stock worth $1,177,186 over the last ninety days. Company insiders own 4.60% of the company’s stock.

About Insmed

(Free Report)

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.

See Also

Want to see what other hedge funds are holding INSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Insmed Incorporated (NASDAQ:INSMFree Report).

Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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