William Lewis, the CEO of Insmed, Inc., sold $3,247,335 worth of company stock on January 12, 2024. The transaction involved the sale of 19,215 shares at an average price of $169.00 each. Following this sale, Lewis retains ownership of 306,891 shares, which are valued at approximately $51.9 million. This sale indicates a 5.89% reduction in his stake in the company.
The transaction was reported in a filing with the U.S. Securities and Exchange Commission (SEC), which can be accessed publicly. Insmed’s stock experienced a 2.6% decline, opening at $159.27 on the most recent trading day.
Market Performance and Institutional Activity
As of now, Insmed holds a market capitalization of $33.97 billion. The company’s price-to-earnings (PE) ratio stands at -25.73, and it has a beta of 1.08. The 50-day simple moving average is $188.29, while the 200-day simple moving average is $153.54. Notably, Insmed’s stock has seen a 52-week low of $60.40 and a high of $212.75.
Recent trading activity among institutional investors reflects growing interest in Insmed. Nisa Investment Advisors LLC increased its holdings by 67.6% during the fourth quarter, acquiring an additional 7,076 shares, bringing its total to 17,542 shares valued at roughly $3.05 million. Other notable transactions include Private Advisory Group LLC, which purchased a new stake valued at approximately $479,000, and ORG Partners LLC, which raised its holdings by 12.7%.
Analyst Ratings and Future Outlook
Brokerage firms have recently revised their ratings and price targets for Insmed. On December 18, 2023, Wells Fargo & Company set a target price of $195.00. HC Wainwright lowered its price objective from $240.00 to $230.00 while maintaining a “buy” rating. TD Cowen adjusted its target from $269.00 to $241.00, also rating it as a “buy.”
The Goldman Sachs Group increased its price target from $225.00 to $258.00, giving Insmed a “buy” designation. In contrast, Cantor Fitzgerald raised its price target from $216.00 to $230.00, labeling the stock as “overweight.”
Currently, market analysts have assigned Insmed a consensus rating of “Moderate Buy,” with an average price target of $205.77 according to data from MarketBeat.com. With a mix of ratings, including two “Strong Buy,” twenty “Buy,” one “Hold,” and one “Sell,” investors remain divided on the future performance of the company.
Insmed, based in Bridgewater, New Jersey, is dedicated to developing therapies for rare and serious diseases, particularly those involving challenging pulmonary infections. Its flagship product, ARIKAYCE (amikacin liposome inhalation suspension), is an inhaled formulation of the antibiotic amikacin, approved for use in the United States.
As the market continues to respond to leadership changes and analyst interventions, the future trajectory of Insmed remains a subject of significant interest among investors and analysts alike.
