The breadth of selling across the C-suite (CEO, President, CCO, CTOO, Chief Early Development) and a director is unusual for a biotech at this stage. While some sales are mechanically tied to option exercises, the open-market disposition of shares by multiple senior executives suggests a lack of conviction in near-term stock appreciation. Monitor for upcoming clinical data readouts or regulatory updates that may have prompted this cluster.
Price Chart
Executive Summary
A cluster of insider selling at Pharvaris N.V. (PHVS) has emerged over the past week, with 7 insiders including the CEO, President, and multiple C-suite officers selling shares. The total open-market sales amount to approximately $4.3 million, representing about 1.3% of the company's $326 million market cap. While some sales are tied to derivative exercises (cashless transactions), the volume and breadth of selling across senior leadership is notable and warrants monitoring for potential upcoming negative catalysts.
Key Financial Metrics
Key Facts
- 7 insiders sold shares in the window 2026-09-10 to 2026-09-17
- Total open-market sales: ~$4.3 million
- CEO Modig Berndt sold 2,300 shares for ~$90K
- President Lu Peng sold 15,000 shares for ~$602K
- Director Bjork Elisabeth sold 52,500 shares for ~$1.99M (largest single seller)
- Director Glassman Robert sold 14,493 shares for ~$559K (post-exercise)
- CCO Souverijns Wim sold 6,090 shares for ~$237K
- CTOO Abele Stefan Andreas sold 46,400 shares for ~$1.77M (post-exercise)
- Chief Early Development Lesage Anne sold 20,000 shares for ~$765K
- Sales represent ~1.3% of market cap ($326M)
- Several sales are tied to derivative exercises (cashless), but the open-market component is real
- No 10b5-1 plan indicated for most sales
Financial Impact
~$4.3M in insider sales, ~1.3% of market cap
Risk Factors
- Insider selling may signal upcoming negative clinical or regulatory news
- CEO and President both selling reduces confidence in management's alignment with shareholders
- Biotech sector volatility could amplify any negative sentiment from this cluster
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-PHVS-1790058362254 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 25, 2026 4w ago | Insider Cluster | $32.02 $31.19 | ▲ +2.59% | ▲ +2.37% | $31.95 (+0.22%) |
Sep 24, 2026 4w ago | Insider Cluster | $32.99 $31.01 | ▲ +6.00% | ▲ +5.59% | $31.95 (+3.15%) |
Sep 24, 2026 4w ago | Insider Cluster | $32.99 $31.01 | ▲ +6.00% | ▲ +5.59% | $31.95 (+3.15%) |
Sep 23, 2026 4w ago | Insider Cluster | $33.07 $31.72 | ▲ +4.08% | ▲ +3.41% | $31.95 (+3.39%) |
Sep 21, 2026 5w ago | Insider Cluster | $36.02 $31.91 | ▲ +11.41% | ▲ +10.39% | $31.95 (+11.30%) |
Sep 17, 2026 5w ago | 144 | $36.37 $32.02 | ▲ +11.96% | ▲ +13.23% | $31.95 (+12.15%) |
Sep 17, 2026 5w ago | Insider Cluster | $38.00 $32.99 | ▲ +13.18% | ▲ +13.78% | $31.95 (+15.92%) |
Sep 17, 2026 5w ago | Insider Cluster | $38.00 $32.99 | ▲ +13.18% | ▲ +13.78% | $31.95 (+15.92%) |
Sep 16, 2026 5w ago | Insider Cluster | $37.55 $33.07 | ▲ +11.93% | ▲ +13.76% | $31.95 (+14.91%) |
Sep 15, 2026 6w ago | Insider Cluster | $38.06 $36.37 | ▲ +4.44% | ▲ +5.26% | $31.95 (+16.05%) |
US Market Status
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