PHVS Pharvaris N.V.
Price Chart
Executive Summary
Six Pharvaris insiders, including the CEO, CFO, and CCO, sold a total of $1.38M in stock over a 7-day window. The cluster is 100% open-market sales with no offsetting purchases, and the CEO's sale is notable for its timing. At $2.1B market cap, the total represents ~0.07% — below the 0.1% materiality threshold — but the breadth of C-suite participation and the absence of any 10b5-1 pattern elevate the signal. The cross-filing actuarial verdicts show this cluster-insider-trades pattern is an AMPLIFIER when combined with other contexts, but no other material cross-filings (earnings, offering, restatement) are present in the provided context to trigger an override.
Key Financial Metrics
Actionable Insight
The cluster is small relative to market cap but broad-based across C-suite and board. With no 10b5-1 pattern and no offsetting buys, this is a modestly bearish signal. Monitor for upcoming earnings, pipeline updates (PHVS is a clinical-stage biotech), or a material agreement that may have prompted the selling. If a catalyst like data readout or financing is imminent, the selling could be informed — but at current scale, it does not warrant immediate action.
Key Facts
- Six insiders sold a total of $1.38M in open-market sales over 7 days (May 14–21, 2026).
- CEO Berndt Modig sold 2,300 shares at $29.22 for $67K — his first sale in the cluster window.
- CFO/CLO David Nassif sold 10,000 shares at $30.31 for $303K on May 21, the largest single trade.
- Director Elisabeth Bjork sold 10,000 shares at $29.32 for $293K on May 20, following derivative exercises.
- CCO Wim Souverijns sold 10,000 shares at $29.92 for $299K on May 15.
- Total cluster value of $1.38M is ~0.07% of Pharvaris's $2.1B market cap — below the 0.1% materiality threshold.
- No 10b5-1 plan disclosures or regular pattern in sale sizes/dates to suggest routine liquidity-driven sales.
- All six insiders sold; zero insider purchases in the cluster window.
Financial Impact
Total insider sales of $1.38M represent ~0.07% of Pharvaris's $2.1B market cap — below the 0.1% materiality threshold for a standalone cluster, but the breadth of C-suite participation (CEO, CFO, CCO) and lack of purchases is notable.
Risk Factors
- Insider selling may signal lack of confidence ahead of a catalyst (e.g., clinical trial readout, regulatory update).
- No offsetting purchases — all six insiders sold, creating a uniform bearish signal.
- CEO sale, though small, is the first in the cluster window and could be informational.
- Clinical-stage biotech risk: any negative pipeline news could amplify the selling signal ex post.
Market Snapshot
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-PHVS-1779831760828 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 29, 2026
11d ago
|
Press Release
| $30.16 $31.09 | ▲ +3.08% | ▲ +5.61% | $31.59 (+4.74%) |
|
May 26, 2026
14d ago
|
Insider Cluster
| $29.47 $30.14 | ▲ +2.27% | ▲ +1.80% | $31.59 (+7.19%) |
|
May 26, 2026
14d ago
|
Insider Cluster
| $29.47 $30.14 | ▼ −2.27% | ▼ −1.80% | $31.59 (−7.19%) |
|
May 22, 2026
18d ago
|
Insider Cluster
| $29.68 $29.10 | ▼ −1.95% | ▼ −3.63% | $31.59 (+6.44%) |
|
May 21, 2026
19d ago
|
144
| $29.68 $29.10 | ▼ −1.95% | ▼ −3.61% | $31.59 (+6.44%) |
|
May 20, 2026
20d ago
|
Insider Cluster
| $30.54 $30.16 | ▼ −1.24% | ▼ −3.09% | $31.59 (+3.44%) |
|
May 20, 2026
20d ago
|
144
| $30.54 $30.16 | ▼ −1.24% | ▼ −3.09% | $31.59 (+3.44%) |
|
May 19, 2026
21d ago
|
Insider Cluster
| $29.45 $29.86 | ▲ +1.39% | ▼ −0.41% | $31.59 (+7.27%) |
|
May 12, 2026
28d ago
|
Press Release
| $32.94 $28.95 | ▼ −12.11% | ▼ −10.95% | $31.59 (−4.10%) |
|
May 11, 2026
29d ago
|
6-K
| $31.25 $28.81 | ▼ −7.81% | ▼ −7.89% | $31.59 (+1.09%) |
US Market Status
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