Insider cluster sells after a $108M offering are routine and likely liquidity-driven (vesting/blackout window). The minimal dollar proportion (0.04% of market cap) does not support a bearish read-through. Monitor for any pipeline news or upcoming clinical data that may have motivated the sales, but for now treat this as noise.
Price Chart
Executive Summary
Four insiders at Pharvaris, including the CEO and Chief Commercial Officer, sold shares totaling $786K in open-market transactions over a 7-day window, closely following a $108M public offering completed on May 8. The cluster is predominantly selling, but the dollar amount is modest relative to the $2.0B market cap (~0.04%), and the asymmetric insider-selling literature indicates cluster sells are not reliably informative beyond the proportionality band. The cross-filing context with a recent offering is a known calibrative amplifier for this pattern, but the trivial proportionality keeps the signal low.
Key Financial Metrics
Key Facts
- Total insider sales: $786K across 4 insiders (CEO, CCO, CTO, Director)
- Sales occurred between May 15 and May 18, 2026, at ~$29.20–$29.92 per share
- CEO Berndt Modig sold 2,292 shares for $67K on May 18
- The cluster follows a $108M public offering (424B5) that closed May 8, 2026
- Sales represent ~0.04% of Pharvaris's $2.0B market cap
- Both principal deliveries (non-cash derivative exercises) accompanied the Director's sale; aggregate net cash to insiders is $786K
Financial Impact
$786K in insider sales over 7 days; 0.04% of $2.0B market cap
Risk Factors
- CEO selling even a small amount near $29 could indicate peak personal valuation if no later open-market purchases materialize
- If subsequent insider filings show additional material sales by the CEO or CFO without buys, the signal would modestly intensify
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-PHVS-1779312846156 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 17d ago | Insider Cluster | $38.06 $36.37 | ▲ +4.44% | ▲ +5.26% | $31.07 (+18.38%) |
Sep 14, 2026 17d ago | 144 | $38.06 $35.20 | ▼ −7.51% | ▼ −9.63% | $31.07 (−18.38%) |
Sep 14, 2026 18d ago | Insider Cluster | $38.86 $36.02 | ▼ −7.31% | ▼ −7.41% | $31.07 (−20.06%) |
Sep 11, 2026 21d ago | Insider Cluster | $38.02 $36.37 | ▼ −4.34% | ▼ −4.12% | $31.07 (−18.29%) |
Sep 8, 2026 24d ago | 6-K | $37.84 $38.86 | ▲ +2.70% | ▲ +3.36% | $31.07 (−17.90%) |
Aug 12, 2026 7w ago | 6-K | $36.46 $36.27 | ▼ −0.52% | ▼ −0.08% | $31.07 (−14.80%) |
Aug 12, 2026 7w ago | Press Release | $36.46 $36.27 | ▼ −0.52% | ▼ −0.08% | $31.07 (−14.80%) |
Aug 6, 2026 8w ago | Press Release | $34.45 $34.04 | ▼ −1.19% | ▼ −2.40% | $31.07 (−9.83%) |
Jul 6, 2026 12w ago | Press Release | $33.22 $35.07 | ▲ +5.57% | ▲ +5.08% | $31.07 (−6.49%) |
Jul 1, 2026 13w ago | Insider Cluster | $33.86 $35.96 | ▲ +6.20% | ▲ +5.27% | $31.07 (−8.25%) |
US Market Status
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