Looks like, there aren't enough permissions of the instruments folder. In rare case, this might happen, if there are multiple admin users logged into the machine in past, and attempted to profile an application using instruments.
For a quick fix:
Go to finder and locate "/Library/Caches" folder, and then select "com.apple.dt.instruments" folder. Right click on it (or double tap, if this is right click is not configured on your mac), and then tap on "Get Info"
Under "Sharing and Permissions:", check if your username has proper access to this folder. It needs to be "Read & Write"
Make sure same permissions are there for all subfolders too.
Hope it helps