The insider cluster is routine and carries no actionable signal. The more relevant event is the Q1 earnings miss on revenue and earnings, with cost pressures from a $26.8M inventory reserve. Monitor the next quarter for whether Tyvaso DPI growth can offset continued erosion in Nebulized Tyvaso and Remodulin, and whether the company returns to sequential revenue growth as management guided.
Price Chart
Executive Summary
Three insiders at United Therapeutics sold a total of $377K in open-market sales over a 7-day window, immediately following the release of Q1 2026 earnings that showed a 2% revenue decline and a 15% drop in net income. The sales are trivial relative to the company's $24B market cap (0.0016%), and the CEO's trades are part of a routine derivative exercise-and-sell pattern. The cluster does not signal material insider concern.
Key Financial Metrics
Key Facts
- Total open-market sales: $377K across 3 insiders (CEO, EVP & General Counsel, CFO)
- Sales represent 0.0016% of UTHR's $24B market cap — immaterial
- CEO Martine Rothblatt's sales ($354K) are part of a pre-planned derivative exercise pattern (9,500 shares exercised at $0 and $146.03, then sold small lots)
- Q1 2026 earnings filed 5 days prior: revenue down 2% YoY to $781.5M, net income down 15% to $274.9M
- Tyvaso DPI grew 9% YoY but was offset by declines in Nebulized Tyvaso (-22%) and Remodulin (-8%)
- Cost of sales surged 44% YoY, including a $26.8M inventory reserve charge from a commercial supply agreement
Financial Impact
Insider sales of $377K are negligible against $24B market cap; Q1 revenue decline of $12.9M and net income decline of $47.3M are the material financial events
Risk Factors
- Continued decline in Nebulized Tyvaso and Remodulin revenues could pressure total revenue growth
- Elevated cost of sales from inventory reserves may persist if commercial supply agreement losses recur
- Competitive dynamics in inhaled prostacyclins remain dynamic, as noted by management
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-UTHR-1778499442442 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 17d ago | Insider Cluster | $500.35 $497.31 | ▼ −0.61% | ▼ −2.72% | $571.38 (+14.20%) |
Sep 11, 2026 21d ago | Insider Cluster | $497.11 $494.63 | ▼ −0.50% | ▼ −0.28% | $571.38 (+14.94%) |
Sep 10, 2026 22d ago | Insider Cluster | $503.86 $497.27 | ▼ −1.31% | ▼ −0.81% | $571.38 (+13.40%) |
Sep 9, 2026 23d ago | Insider Cluster | $506.82 $498.48 | ▼ −1.65% | ▼ −0.99% | $571.38 (+12.74%) |
Sep 4, 2026 28d ago | Insider Cluster | $487.61 $502.70 | ▲ +3.09% | ▲ +4.30% | $571.38 (+17.18%) |
Sep 3, 2026 29d ago | Insider Cluster | $488.16 $497.11 | ▲ +1.83% | ▲ +2.98% | $571.38 (+17.05%) |
Aug 28, 2026 5w ago | Insider Cluster | $515.46 $487.61 | ▼ −5.40% | ▼ −5.51% | $571.38 (+10.85%) |
Aug 27, 2026 5w ago | Insider Cluster | $527.91 $492.02 | ▼ −6.80% | ▼ −6.03% | $571.38 (+8.23%) |
Aug 26, 2026 5w ago | Insider Cluster | $516.68 $492.02 | ▼ −4.77% | ▼ −4.65% | $571.38 (+10.59%) |
Aug 25, 2026 5w ago | Insider Cluster | $516.68 $492.02 | ▼ −4.77% | ▼ −4.65% | $571.38 (+10.59%) |
US Market Status
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