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BRIDGEWATER, N.J.—William Lewis (JO:LEWJ), Chair and CEO of Insmed Inc. (NASDAQ:INSM), recently executed a significant stock transaction amid the company’s impressive 178% stock surge over the past year. According to a recent SEC filing, Lewis sold 79,350 shares of Insmed common stock on February 6, 2025, at an average price of $80.90 per share, amounting to a total of approximately $6.4 million. InvestingPro analysis indicates the stock is currently trading near its 52-week high of $82.04. The shares were sold to satisfy tax withholding obligations upon the vesting of Performance Stock Units (PSUs) and to cover related broker fees.
Additionally, on February 5, 2025, Lewis acquired 153,710 shares of common stock at no cost. These shares were acquired upon the vesting of PSUs originally granted on January 6, 2022, following the achievement of the applicable performance and service conditions.
Following these transactions, Lewis holds 453,894 shares of Insmed directly. He also maintains indirect ownership of 233,924 shares through the Katie Procter Dynasty Trust and 50,500 shares through the William Lewis Family Legacy Trust. According to InvestingPro’s Fair Value analysis, the stock appears to be trading above its fundamental value, with a price-to-book ratio of 29.59x reflecting strong investor confidence.
In other recent news, Insmed Incorporated has been making significant strides in the biopharmaceutical sector. The U.S. Food and Drug Administration (FDA) granted Priority Review status to Insmed’s New Drug Application for brensocatib, a potential treatment for non-cystic fibrosis bronchiectasis. Brensocatib is the first drug of its kind, specifically targeting a chronic lung disease that currently lacks FDA-approved therapies. The drug demonstrated a significant reduction in pulmonary exacerbations during the Phase 3 ASPEN study, which supports the application.
Meanwhile, Truist Securities maintained a Buy rating on Insmed, with a steady price target of $105. The firm highlighted several potential catalysts for the company in the next 12 to 18 months, including the potential multi-billion dollar opportunity presented by brensocatib. Truist also expects significant milestones from Insmed’s TPIP program and the release of Phase 2 top-line data for the treatment of pulmonary arterial hypertension.
In a recent development, Insmed terminated a significant sales agreement with Leerink Partners LLC, which allowed the company to sell up to $500 million of its common stock. The termination was effective immediately, with no penalties incurred by Insmed. On the other hand, Mizuho (NYSE:MFG) Securities adjusted its price target for Insmed to $88 from $92, while maintaining an Outperform rating on the company’s shares. The adjustment followed the release of Insmed’s third-quarter financial results and increased expectations for brensocatib.
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