The dollar amount is too small to signal material non-public information. Monitor for any 10b5-1 plan disclosures or subsequent Form 4 filings that might reveal a pattern. If the company announces a catalyst (e.g., trial data, partnership) in the next 30 days, these sales could be re-evaluated as opportunistic, but currently they appear routine.
Price Chart
Executive Summary
CEO Joshua Brumm and President/COO Jonathan McNeill sold a combined $195K of CBIO stock on September 18, 2026, at $16.71 per share. The sales are open-market (code S) but represent only ~0.06% of the company's ~$326M market cap — well below the 0.1% materiality threshold — and both executives sold on the same day, suggesting a routine liquidity event (e.g., tax planning or 10b5-1 plan) rather than a coordinated bearish signal.
Key Financial Metrics
Key Facts
- CEO Joshua Brumm sold 7,800 shares for $131K on September 18, 2026.
- President/COO Jonathan McNeill sold 3,800 shares for $64K on September 18, 2026.
- Total insider sales of $195K represent ~0.06% of market cap — trivial.
- Both sales occurred on the same day at the same price ($16.71), consistent with a pre-arranged plan or tax-related sale.
- No open-market purchases in the cluster; no C-suite buying to offset the sales.
Financial Impact
Total insider sales of $195K, representing ~0.06% of market cap — immaterial.
Risk Factors
- If both executives continue selling in similar amounts over the next 60 days, the pattern could become more informative.
- No insider buying to offset the sales — a sustained selling trend would be bearish.
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-CBIO-1789797751617 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 11d ago | 8-K | $11.84 | awaiting T+60 | — | $12.76 (+7.77%) |
Oct 15, 2026 11d ago | Press Release | $11.84 | awaiting T+60 | — | $12.76 (+7.77%) |
Oct 5, 2026 21d ago | Press Release | $13.94 | awaiting T+60 | — | $12.76 (−8.46%) |
Sep 18, 2026 5w ago | Insider Cluster | $16.25 | awaiting T+60 | — | $12.76 (−21.48%) |
Jul 30, 2026 12w ago | 8-K | $15.02 $12.82 | ▼ −14.65% | ▼ −17.11% | $12.76 (−15.05%) |
Jul 20, 2026 14w ago | Insider Buy | $16.64 $12.91 | ▼ −22.42% | ▼ −26.39% | $12.76 (−23.32%) |
Jul 15, 2026 14w ago | 8-K / 424B5 | $15.11 $14.91 | ▲ +1.32% | ▲ +5.03% | $12.76 (+15.55%) |
Jul 14, 2026 14w ago | Press Release | $15.67 $14.12 | ▲ +9.89% | ▲ +12.42% | $12.76 (+18.57%) |
Jul 14, 2026 14w ago | 424B5 | $15.67 $14.12 | ▲ +9.89% | ▲ +12.42% | $12.76 (+18.57%) |
Jul 13, 2026 15w ago | EFFECT | $15.69 $13.57 | ▼ −13.51% | ▼ −17.51% | $12.76 (−18.67%) |
US Market Status
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