Insmed, Inc. (NASDAQ:INSM) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in Insmed, Inc. (NASDAQ:INSM - Free Report) by 3.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,755,373 shares of the biopharmaceutical company's stock after selling 62,270 shares during the quarter. Principal Financial Group Inc. owned 0.97% of Insmed worth $133,917,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of INSM. Darwin Global Management Ltd. lifted its holdings in Insmed by 23.5% in the fourth quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company's stock valued at $894,796,000 after acquiring an additional 2,463,261 shares during the period. Norges Bank acquired a new position in shares of Insmed during the 4th quarter worth $126,606,000. Vanguard Group Inc. raised its stake in shares of Insmed by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company's stock worth $1,257,838,000 after buying an additional 1,075,796 shares during the last quarter. Brown Advisory Inc. acquired a new position in shares of Insmed during the 4th quarter worth $45,773,000. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of Insmed by 59.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,647,562 shares of the biopharmaceutical company's stock worth $113,748,000 after buying an additional 615,000 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Insmed from $90.00 to $102.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Mizuho lifted their price target on Insmed from $96.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 11th. HC Wainwright lifted their price target on Insmed from $90.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Leerink Partners lifted their price target on Insmed from $100.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. Finally, Bank of America lifted their price target on Insmed from $94.00 to $109.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.80.

Insider Buying and Selling

In other Insmed news, CEO William Lewis sold 129,805 shares of Insmed stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $100.39, for a total value of $13,031,123.95. Following the completion of the sale, the chief executive officer owned 233,924 shares in the company, valued at $23,483,630.36. The trade was a 35.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David W. J. Mcgirr sold 3,000 shares of Insmed stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $73.27, for a total value of $219,810.00. Following the completion of the sale, the director owned 97,723 shares of the company's stock, valued at $7,160,164.21. This trade represents a 2.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 488,752 shares of company stock worth $43,199,826 over the last ninety days. Insiders own 3.00% of the company's stock.

Insmed Price Performance

Insmed stock traded up $0.26 during midday trading on Friday, reaching $98.50. 1,762,381 shares of the company were exchanged, compared to its average volume of 2,300,214. The company has a debt-to-equity ratio of 11.38, a quick ratio of 5.44 and a current ratio of 5.86. The company has a market capitalization of $18.69 billion, a price-to-earnings ratio of -16.55 and a beta of 0.90. The firm's 50-day simple moving average is $80.87 and its 200-day simple moving average is $76.52. Insmed, Inc. has a 1 year low of $60.40 and a 1 year high of $106.83.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) EPS for the quarter, missing the consensus estimate of ($1.36) by ($0.06). The business had revenue of $92.82 million during the quarter, compared to analysts' expectations of $91.63 million. Insmed had a negative net margin of 265.93% and a negative return on equity of 446.98%. The firm's quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.06) EPS. On average, analysts anticipate that Insmed, Inc. will post -4.56 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.