The cluster of sales by the CEO, President, and Chief Early Development Officer, while not massive relative to market cap, is a bearish signal given the lack of any insider buying. Traders should monitor for upcoming clinical data readouts or corporate developments that may have prompted the selling. The stock's strong recent performance (90% analyst bullish) may have created a selling opportunity for insiders, but the concentration of sales by top executives warrants caution.
Price Chart
Executive Summary
Four Pharvaris insiders, including the CEO and President, sold a total of $2.15M in open-market shares over a 7-day window. The CEO's sale of $90K is small, but the President's $610K sale and the Chief Early Development Officer's $1.15M sale are material. The cluster is entirely sells with no buys, and the dollar value represents ~0.08% of the $2.7B market cap, falling just below the 0.1% threshold for materiality. However, the presence of derivative exercises (non-cash) preceding some sales suggests tax-related planning, but the open-market sales by senior executives are a cautionary signal for a biotech trading near its 52-week high with a 90% bullish analyst consensus.
Key Financial Metrics
Key Facts
- CEO Modig Berndt sold 2,291 shares for $90,276 on 2026-09-14.
- President Lu Peng sold 15,000 shares for $610,200 on 2026-09-08.
- Chief Early Development Officer Lesage Anne sold 30,000 shares for $1,149,084 on 2026-09-10, after exercising derivatives.
- Director Glassman Robert sold 8,000 shares for $300,396 on 2026-09-09, after exercising derivatives.
- Total insider sales in the cluster: $2.15M, representing ~0.08% of the $2.7B market cap.
- No insider purchases were made during the cluster window.
Financial Impact
Total insider sales of $2.15M, or ~0.08% of market cap, concentrated among senior executives.
Risk Factors
- Insider selling may signal management's lack of confidence in near-term catalysts or valuation.
- The stock is trading near a potential peak with high bullish consensus, increasing downside risk if sentiment shifts.
- No insider buying to offset the selling cluster suggests a one-sided bearish view from those closest to the business.
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-1789496156446 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 17d ago | Insider Cluster | $38.06 $36.37 | ▲ +4.44% | ▲ +5.26% | $31.17 (+18.10%) |
Sep 14, 2026 17d ago | 144 | $38.06 $35.20 | ▼ −7.51% | ▼ −9.63% | $31.17 (−18.10%) |
Sep 14, 2026 18d ago | Insider Cluster | $38.86 $36.02 | ▼ −7.31% | ▼ −7.41% | $31.17 (−19.79%) |
Sep 11, 2026 21d ago | Insider Cluster | $38.02 $36.37 | ▼ −4.34% | ▼ −4.12% | $31.17 (−18.02%) |
Sep 8, 2026 24d ago | 6-K | $37.84 $38.86 | ▲ +2.70% | ▲ +3.36% | $31.17 (−17.63%) |
Aug 12, 2026 7w ago | 6-K | $36.46 $36.27 | ▼ −0.52% | ▼ −0.08% | $31.17 (−14.51%) |
Aug 12, 2026 7w ago | Press Release | $36.46 $36.27 | ▼ −0.52% | ▼ −0.08% | $31.17 (−14.51%) |
Aug 6, 2026 8w ago | Press Release | $34.45 $34.04 | ▼ −1.19% | ▼ −2.40% | $31.17 (−9.52%) |
Jul 6, 2026 12w ago | Press Release | $33.22 $35.07 | ▲ +5.57% | ▲ +5.08% | $31.17 (−6.17%) |
Jul 1, 2026 13w ago | Insider Cluster | $33.86 $35.96 | ▲ +6.20% | ▲ +5.27% | $31.17 (−7.94%) |
US Market Status
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