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Sara Bonstein, Chief Financial Officer of Insmed Inc. (NASDAQ:INSM), recently sold a significant portion of her holdings in the company. According to a recent SEC filing, Bonstein sold 28,390 shares of Insmed stock on February 6, 2025, at a weighted average price of $80.90 per share. This transaction totaled approximately $2.3 million. The sale comes as Insmed trades near its 52-week high of $82.04, having delivered an impressive 178% return over the past year. According to InvestingPro, analysts maintain a strong buy rating on the stock.
Prior to this sale, Bonstein acquired 65,033 shares of Insmed common stock on February 5, 2025. These shares were acquired at no cost upon the vesting of Performance Stock Units (PSUs) that were originally granted on January 6, 2022, and vested after meeting specific performance and service conditions. With the company’s next earnings report scheduled for February 20, InvestingPro subscribers can access 12 additional key insights about Insmed’s financial health and valuation metrics.
Following these transactions, Bonstein now holds 155,506 shares of Insmed stock. The shares sold were primarily to satisfy tax withholding obligations related to the vesting of the PSUs and to cover associated broker fees. Based on current market prices, these holdings are valued at approximately $12.4 million in a company with a market capitalization of $14.32 billion.
In other recent news, Insmed Incorporated, a biopharmaceutical company, has seen several significant developments. The U.S. Food and Drug Administration (FDA) has accepted Insmed’s New Drug Application for brensocatib, a potential treatment for non-cystic fibrosis bronchiectasis, granting it Priority Review status. This new drug, if approved, would be the first of its kind, specifically targeting bronchiectasis.
Additionally, Insmed has ended a significant sales agreement with Leerink Partners LLC, under which Insmed could sell up to $500 million of its common stock. The termination was effective immediately and will not result in any penalties for Insmed.
In terms of analyst projections, Truist Securities maintained a Buy rating on Insmed’s stock, keeping a steady price target of $105. Truist highlighted several potential catalysts for the company, including the anticipated release of Phase 2 top-line data for the treatment of pulmonary arterial hypertension (PAH) with TPIP in mid-2025. Meanwhile, Mizuho (NYSE:MFG) Securities adjusted its price target for Insmed to $88, down from $92, but maintained an Outperform rating on the company’s shares.
Insmed also reported preliminary sales of its drug Arikayce for the fiscal year 2024, totaling approximately $364 million, surpassing both the company’s own guidance and the FactSet consensus estimate. Looking forward, Insmed projects that global revenues for Arikayce in fiscal year 2025 will reach between $405 million and $425 million. These are recent developments in the company’s operations and product pipeline.
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