US stock futures flounder amid tech weakness, Fed caution
William Lewis (JO:LEWJ), Chair and CEO of Insmed Inc (NASDAQ:INSM), recently executed several stock transactions as reported in a recent SEC filing. On April 15, Lewis sold a total of 6,830 shares of Insmed’s common stock, amounting to approximately $479,176. The shares were sold at prices ranging from $69.62 to $71.30 per share. The stock, currently trading at $70.19, has delivered an impressive 171% return over the past year, though InvestingPro analysis suggests it may be trading above its Fair Value. These transactions were carried out under a 10b5-1 trading plan, which allows insiders of publicly traded corporations to set up a predetermined plan to sell company stock.
In addition to these sales, Lewis also acquired 6,830 shares through the exercise of stock options at a price of $10.85 per share, totaling $74,105. The shares involved in these transactions are held indirectly by the Katie Procter Dynasty Trust. Following these transactions, Lewis holds 233,924 shares of Insmed common stock.
In other recent news, Insmed has received significant attention from several analyst firms regarding its ongoing projects and future prospects. Cantor Fitzgerald reiterated its Overweight rating on Insmed, expressing optimism about the company’s Treprostinil Palmitil Inhalation Powder (TPIP) for Pulmonary Arterial Hypertension (PAH) due to its promising Phase 2a data and potential for more convenient dosing. H.C. Wainwright maintained a Buy rating with a $90 price target, highlighting Insmed’s novel gene therapy for Duchenne muscular dystrophy, which has shown positive results in preclinical trials. RBC Capital Markets also reaffirmed an Outperform rating with a $100 price target, citing confidence in TPIP’s ability to achieve significant improvements in key performance metrics.
Truist Securities maintained a Buy rating and set a price target of $108, anticipating a favorable risk/reward scenario for TPIP’s upcoming data for PAH. UBS raised its price target to $110, anticipating Phase 2 data for TPIP, which could position it as a leading inhaled prostacyclin treatment for PAH. Each of these firms has expressed confidence in Insmed’s potential to impact the treatment landscape for serious and rare diseases, with TPIP and other innovative therapies under development. These recent developments underscore the growing interest and expectations from analysts regarding Insmed’s future performance and market opportunities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.