Three OMER insiders, including two directors and the VP of Finance, sold a total of ~$387K in open-market shares over a one-week window. The cluster is 100% sells, with Director Hanish also exercising and immediately selling stock. At a $1.4B market cap, the total value is ~0.03% — well below the 0.1% materiality threshold — making this a routine, non-informative cluster likely driven by tax planning and vesting schedules rather than a bearish signal. Historical calibration shows strong past T+20 performance on OMER reports (+12% avg), but the proportionality check overrides any amplification here: the dollar amount is trivial relative to market cap, and per the academic literature, cluster sells are not predictive even when they occur. The cross-filing actuarial verdicts are all amplifiers, but they apply to context pairs (e.g., cluster + earnings) that are not present here — this is a standalone sell cluster with no material cross-filing context to escalate it. Score is capped at 3 due to trivial dollar value and non-predictive sell-cluster nature. Sentiment is neutral. Confidence is high because the data is clear and the proportionality check is unambiguous. Key facts: total sells $387K, 0.03% of market cap, 3 insiders, 100% sells, no C-suite CEO/CFO participation, exercise-and-sell pattern suggests routine option monetization. Actionable insight: no actionable signal — this is noise. Monitor for any material insider BUY cluster or a CEO/CFO open-market sell to indicate a real shift in sentiment. Risks: none from this filing. Related tickers: none. Time horizon: immediate. Drug names: none. Cross-filing narrative: no material cross-filings to escalate. Data: netDirection selling, totalValue 387000, insiderCount 3, cSuiteCount 1 (Borges is VP, not C-suite; counted as non-C-suite per strict definition), possibleCatalyst null. ImpactScore 3 is appropriate for a trivial, sub-0.1%-of-market-cap sell cluster with no predictive value. Sentiment neutral. Confidence high. All data fields from the filing: $387K total sells, 3 insiders, 1 VP-level (not C-suite).
Price Chart
Executive Summary
Three OMER insiders, including two directors and the VP of Finance, sold a total of ~$387K in open-market shares over a one-week window. The cluster is 100% sells, with Director Hanish also exercising and immediately selling stock. At a $1.4B market cap, the total value is ~0.03% — well below the 0.1% materiality threshold — making this a routine, non-informative cluster likely driven by tax planning and vesting schedules rather than a bearish signal. Historical calibration shows strong past T+20 performance on OMER reports (+12% avg), but the proportionality check overrides any amplification here: the dollar amount is trivial relative to market cap, and per the academic literature, cluster sells are not predictive even when they occur. The cross-filing actuarial verdicts are all amplifiers, but they apply to context pairs (e.g., cluster + earnings) that are not present here — this is a standalone sell cluster with no material cross-filing context to escalate it. Score is capped at 3 due to trivial dollar value and non-predictive sell-cluster nature. Sentiment is neutral. Confidence is high because the data is clear and the proportionality check is unambiguous. Key facts: total sells $387K, 0.03% of market cap, 3 insiders, 100% sells, no C-suite CEO/CFO participation, exercise-and-sell pattern suggests routine option monetization. Actionable insight: no actionable signal — this is noise. Monitor for any material insider BUY cluster or a CEO/CFO open-market sell to indicate a real shift in sentiment. Risks: none from this filing. Related tickers: none. Time horizon: immediate. Drug names: none. Cross-filing narrative: no material cross-filings to escalate. Data: netDirection selling, totalValue 387000, insiderCount 3, cSuiteCount 1 (Borges is VP, not C-suite; counted as non-C-suite per strict definition), possibleCatalyst null. ImpactScore 3 is appropriate for a trivial, sub-0.1%-of-market-cap sell cluster with no predictive value. Sentiment neutral. Confidence high. All data fields from the filing: $387K total sells, 3 insiders, 1 VP-level (not C-suite).
Financial Impact
Not specified
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-OMER-1787983371778 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 1, 2026 4w ago | Insider Cluster | $18.75 $19.04 | ▲ +1.55% | ▲ +1.44% | $18.33 (−2.21%) |
Aug 28, 2026 5w ago | Insider Cluster | $18.61 $19.43 | ▲ +4.41% | ▲ +4.15% | $18.33 (−1.48%) |
Aug 25, 2026 5w ago | Insider Cluster | $18.22 $20.13 | ▲ +10.48% | ▲ +10.26% | $18.33 (+0.63%) |
Aug 21, 2026 5w ago | Insider Cluster | $19.32 $21.05 | ▲ +8.95% | ▲ +7.64% | $18.33 (−5.10%) |
Jul 20, 2026 10w ago | 8-K | $9.53 $17.19 | ▲ +80.38% | ▲ +77.82% | $18.33 (+92.39%) |
Jul 6, 2026 12w ago | 8-K | $10.34 $11.84 | ▲ +14.51% | ▲ +15.07% | $18.33 (+77.32%) |
Jun 18, 2026 15w ago | 8-K | $10.28 $9.22 | ▼ −10.31% | ▼ −10.84% | $18.33 (+78.36%) |
Jun 11, 2026 16w ago | Institutional Cluster | $10.18 $10.27 | ▲ +0.88% | ▼ −1.01% | $18.33 (+80.11%) |
May 13, 2026 20w ago | 8-K | $13.28 $8.74 | ▼ −34.19% | ▼ −33.33% | $18.33 (+38.06%) |
Mar 31, 2026 26w ago | 8-K | $12.08 $14.56 | ▲ +20.53% | ▲ +10.81% | $18.33 (+51.78%) |
US Market Status
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