Principal Financial Group Inc. Purchases 242,612 Shares of Insmed Incorporated (NASDAQ:INSM)

Principal Financial Group Inc. raised its position in shares of Insmed Incorporated (NASDAQ:INSMGet Rating) by 30.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,044,748 shares of the biopharmaceutical company’s stock after acquiring an additional 242,612 shares during the quarter. Principal Financial Group Inc.’s holdings in Insmed were worth $20,602,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of INSM. Nisa Investment Advisors LLC raised its holdings in shares of Insmed by 38.2% during the second quarter. Nisa Investment Advisors LLC now owns 4,015 shares of the biopharmaceutical company’s stock valued at $79,000 after purchasing an additional 1,110 shares during the period. Point72 Hong Kong Ltd raised its holdings in shares of Insmed by 270.1% during the first quarter. Point72 Hong Kong Ltd now owns 6,177 shares of the biopharmaceutical company’s stock valued at $145,000 after purchasing an additional 4,508 shares during the period. OLD National Bancorp IN acquired a new position in shares of Insmed during the second quarter valued at about $205,000. Duality Advisers LP acquired a new position in shares of Insmed during the first quarter valued at about $209,000. Finally, Cetera Advisor Networks LLC raised its holdings in shares of Insmed by 15.1% during the first quarter. Cetera Advisor Networks LLC now owns 11,405 shares of the biopharmaceutical company’s stock valued at $268,000 after purchasing an additional 1,500 shares during the period.

Insider Buying and Selling at Insmed

In related news, Director Melvin Md Sharoky bought 20,000 shares of Insmed stock in a transaction dated Monday, October 31st. The stock was purchased at an average cost of $17.53 per share, with a total value of $350,600.00. Following the transaction, the director now directly owns 281,021 shares of the company’s stock, valued at $4,926,298.13. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Credit Suisse Group lowered their target price on shares of Insmed to $52.00 in a report on Tuesday, November 1st. StockNews.com assumed coverage on shares of Insmed in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Cowen lowered their target price on shares of Insmed from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday, October 21st. Cantor Fitzgerald lowered their target price on shares of Insmed from $53.00 to $49.00 and set an “overweight” rating on the stock in a report on Tuesday, October 25th. Finally, Cowen lowered their target price on shares of Insmed from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday, October 21st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.78.

Insmed Trading Down 2.9 %

NASDAQ:INSM opened at $18.93 on Tuesday. The company has a debt-to-equity ratio of 18.24, a quick ratio of 4.11 and a current ratio of 4.59. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -5.20 and a beta of 1.58. Insmed Incorporated has a 52 week low of $16.41 and a 52 week high of $30.96. The firm has a 50-day moving average price of $20.38 and a two-hundred day moving average price of $21.45.

About Insmed

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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