Insmed CEO William Lewis sells $995,012 in inventory

William Lewis (JO:LEWJ), Chair and CEO of Insmed Inc. (NASDAQ:INSM), lately reported a number of inventory transactions involving the sale of firm shares. Based on the SEC Type 4 submitting, Lewis bought a complete of 15,195 shares of Insmed widespread inventory over three separate transactions between January 7 and January 10, 2025. These gross sales had been executed at costs starting from $63.36 to $66.02 per share, totaling roughly $995,012. The gross sales come as Insmed’s inventory has proven outstanding power, with InvestingPro information displaying a 130% return over the previous yr.

Along with these gross sales, Lewis acquired 22,824 shares by way of restricted inventory items (RSUs) and 109,490 inventory choices, each granted below the corporate’s incentive plan. The RSUs and choices had been awarded for free of charge to Lewis, with the RSUs representing a proper to obtain one share of widespread inventory per unit. The choices, exercisable at $65.72 per share, are topic to a vesting schedule. Based on InvestingPro evaluation, analysts preserve a powerful purchase consensus with worth targets starting from $67 to $105 per share.

Following these transactions, Lewis holds a direct possession of 395,567 shares, with further oblique holdings by way of household trusts. Whereas Insmed presently trades close to its Truthful Worth in response to InvestingPro metrics, the corporate maintains sturdy liquidity with present property exceeding short-term obligations by over 6 occasions. Subscribers to InvestingPro can entry the great Professional Analysis Report for deeper insights into Insmed’s valuation and progress prospects.

In different latest information, Insmed Integrated terminated a big gross sales settlement with Leerink Companions LLC, which allowed for the sale of as much as $500 million of its widespread inventory. The termination was efficient instantly and the corporate will face no penalties. In the meantime, Insmed’s third-quarter monetary outcomes confirmed an 18% enhance in world internet revenues year-over-year, reaching $93.4 million. This progress is primarily because of the profitable gross sales of ARIKAYCE, which has proven double-digit income progress for seven consecutive quarters.

Mizuho (NYSE:MFG) Securities adjusted its inventory worth goal for Insmed to $88 from the earlier goal of $92, whereas sustaining an Outperform score. The agency’s new projection suggests a optimistic outlook on Insmed’s prospects, notably with the anticipated market introduction of the drug brensocatib. Insmed plans to file a New Drug Software within the fourth quarter of 2024 for brensocatib, in preparation for its anticipated mid-2025 launch. The corporate can be advancing medical trials for brensocatib in persistent rhinosinusitis and hidradenitis suppurativa, with outcomes anticipated by late 2025. These are latest developments in Insmed’s operational and monetary technique.

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