Principal Financial Group Inc. Trims Stock Holdings in Insmed, Inc. $INSM

Key Points

• Principal Financial Group trimmed its stake in Insmed by 10.8%, selling 92,936 shares and ending the quarter with 771,358 shares worth about $134.25 million.
• Company insiders sold material stock this quarter — COO Roger Adsett sold 88,060 shares (~$14.5M) and CEO William Lewis sold 10,699 shares (~$1.54M), with insiders disposing of 174,589 shares totaling roughly $27.44M.
• Analysts remain broadly positive with a MarketBeat consensus "Buy" and $213.23 target despite Insmed missing EPS expectations (‑$1.54 vs. ‑$1.07) while reporting revenue of $263.84M, up 152.6% year-over-year.

Principal Financial Group Inc. lowered its position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 10.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 771,358 shares of the biopharmaceutical company's stock after selling 92,936 shares during the quarter. Principal Financial Group Inc. owned about 0.36% of Insmed worth $134,247,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. CIBC Private Wealth Group LLC lifted its position in Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock valued at $26,000 after acquiring an additional 53 shares during the period. CoreCap Advisors LLC purchased a new position in shares of Insmed during the fourth quarter valued at approximately $27,000. Stone House Investment Management LLC bought a new stake in shares of Insmed in the 3rd quarter worth approximately $29,000. SBI Securities Co. Ltd. grew its stake in shares of Insmed by 404.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company's stock worth $30,000 after buying an additional 166 shares during the last quarter. Finally, GraniteShares Advisors LLC bought a new position in Insmed during the 4th quarter valued at approximately $30,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Insmed in a research note on Tuesday, April 21st. Roth Mkm reissued a "buy" rating and set a $212.00 price objective on shares of Insmed in a research report on Friday, April 17th. Mizuho raised their price objective on shares of Insmed from $204.00 to $206.00 and gave the company an "outperform" rating in a research note on Wednesday, March 25th. Bank of America lifted their target price on shares of Insmed from $211.00 to $213.00 and gave the stock a "buy" rating in a report on Tuesday, March 24th. Finally, Truist Financial set a $205.00 target price on shares of Insmed in a research note on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $213.23.

Insider Buying and Selling

In other news, COO Roger Adsett sold 88,060 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $164.63, for a total transaction of $14,497,317.80. Following the transaction, the chief operating officer directly owned 106,810 shares of the company's stock, valued at $17,584,130.30. This represents a 45.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William Lewis sold 10,699 shares of the firm's stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $143.97, for a total value of $1,540,335.03. Following the completion of the transaction, the chief executive officer owned 301,185 shares in the company, valued at approximately $43,361,604.45. This trade represents a 3.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 174,589 shares of company stock worth $27,441,807. 2.10% of the stock is owned by insiders.

Insmed Price Performance

NASDAQ INSM opened at $137.09 on Thursday. Insmed, Inc. has a one year low of $63.81 and a one year high of $212.75. The stock has a 50-day moving average of $146.94 and a 200 day moving average of $165.89. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.54 and a current ratio of 3.83. The company has a market capitalization of $29.59 billion, a price-to-earnings ratio of -21.39 and a beta of 0.89.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.07) by ($0.47). Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The company had revenue of $263.84 million for the quarter, compared to analysts' expectations of $263.97 million. During the same period in the previous year, the business earned ($1.32) EPS. The business's revenue was up 152.6% compared to the same quarter last year. On average, sell-side analysts forecast that Insmed, Inc. will post -2.41 EPS for the current year.

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.

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