Insmed Inc. reported a notable insider transaction on February 19, 2026, when Chair and Chief Executive Officer William Lewis sold 11,099 shares of the companys common stock for a total of $1,615,256. The sales were executed at prices between $149.17 and $153.38 per share.
On the same date, Lewis also exercised stock options to acquire 10,699 shares of Insmed common stock, paying exercise prices of $17.16 and $30.46 per share. The cash outlay for those option exercises totaled $266,839.
After completing these transactions, Lewiss direct ownership of Insmed common stock stands at 301,185 shares. He additionally retains indirect holdings of 233,924 shares through the Katie Procter Dynasty Trust and 50,500 shares through the William Lewis Family Legacy Trust.
Insmeds share price is trading at $159.03, which corresponds to a market capitalization of $34.3 billion. Over the last 12 months, Insmeds stock has climbed nearly 99%, a rise noted by InvestingPro data, although that same InvestingPro Fair Value analysis indicates the stock may be overvalued at current levels. The platform also offers a more detailed Pro Research Report on the company for subscribers seeking expanded analysis.
Financial results released by Insmed for the fourth quarter of 2025 showed mixed outcomes. The company reported earnings per share of -$1.54, missing consensus expectations of -$1.17 and representing a negative surprise of 31.62%. Revenue, however, outperformed estimates, coming in at $263.8 million versus a forecast of $208.2 million - a 26.71% beat.
Management provided 2026 revenue guidance for Brinsupri that projects sales in excess of $1 billion, and the company said this guidance was announced earlier than investors had anticipated. Analysts have responded by maintaining positive stances on the equity. H.C. Wainwright reiterated a Buy rating with a $230 price target, citing improved clarity around market access and favorable early launch metrics. Stifel left its Buy rating intact while lowering its price target to $205 from $212, noting higher costs but aligning its outlook with company guidance for 2026 sales.
Taken together, the insider transactions, the quarter's financials, and updated guidance underscore active investor focus on Insmed's commercial trajectory and cost dynamics. The CEOs simultaneous sale and option exercises alter his immediate liquidity profile while leaving him with significant direct and indirect equity exposure going forward.
Because certain valuation signals flagged by InvestingPro suggest the stock may be trading above fair value, and given the mixed nature of the quarter's results, investors are likely to weigh near-term profitability and cost trends against robust revenue momentum and the early performance indicators for Brinsupri.