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Marpai, Inc. Stock: price and insider trades · United States
No insider purchase over the last 90 days. The latest, by EITAN YARON, was filed 22 May 2026.
Marpai, Inc.: what insiders have been doing
Marpai, Inc., classified in the Healthcare & Pharma sector, is a listed company. Its insiders report their share dealings to SEC (Form 4). The last twelve months, up to 22 October 2026, brought 10 filings signed by 5 insiders.
No insider sold shares on the market over the period. Instead, the filings list 4 purchases totalling €175k, made by 3 insiders. Unlike grants, an open-market purchase is paid for by the insider, at the market price. The largest single trade was a purchase of €87k by Eitan Yaron, published on 12 November 2025. Among those who bought: 3 senior executives.
With 10 filings in twelve months, the company is more active than the median of 8 filings across the 277 companies we follow on the same exchange. Looking back to 2021, when coverage begins, insiders filed 59 purchases and 9 sales. For the fiscal year to 31 December 2025, the annual 10-K puts revenue at 18.1 m USD and net income at -16.6 m USD.
The data flag 3 purchases as part of a group of insiders buying within 30 days of each other. Purchases made close together by different insiders form what is called a cluster. The most recent open-market purchase was published on 22 May 2026, 154 days ago. Between a trade and the moment it shows up on SEC (Form 4), the median delay is 5 days. US insiders must file a Form 4 within two business days of a trade.
Other companies in the same sector with recent insider buying flagged by our signals: Xenon Pharmaceuticals Inc. and Vivos Inc. Source: insider filings from SEC (Form 4). Past trades are no guide to future returns.
Insider Decl.
108
Thresholds
n/a
Buy Volume
€7M
59 ops. · all time
Sell Volume
€222,637
9 ops. · all time
Who traded when
BuySaleIntelligent Fanatics Capital Management LLC6 sales
Damien Lamendola4 buys
Yaron Eitan3 buys
John Paul Powers1 buy
Robert M. Pons1 buy
Sagiv Shiv1 buy
+1 other insider
Since the insiders bought
- +441.9%Entry US$0.43 · Close at T+90 US$2.33
- -50.8%Entry US$1.18 · Close at T+90 US$0.58
- -50.8%Entry US$1.18 · Close at T+90 US$0.58
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Fundamental score
Ranked 24,396 of 26,248 companies
18.3
score / 100
Value9
Quality28
FCF yld-18%
Earn yld-34%
EV/EBITDA·
ROE·
Gross mgn35%
Net mgn-77%
Debt/EBITDA·
Pillars2/3
Transparent value + quality ranking, distinct from the insider signal.
Financial data
as of FY 2023FY ended December 2023 · cache
US$3.18
Analyst consensus
Income statement
RevenueUS$37.2M
Gross profitUS$12.9M35% margin
EBITDA-US$22.1M-60% margin
Net income-US$28.8M-101.5% margin
Valuation
Beta4.67
Balance sheet & cash
Market capUS$85.3M
Total debtUS$4.2M
Free Cash Flow-US$15.7M
Profitability & ownership
ROA-82.8%
% insiders51.1%
% institutions3.8%
Last declaration on 2 June 2026
Declarations108 total
50,000 shares0Class A Common StockSEC:0001213900-26-064249:0
100,000 shares0Class A Common StockSEC:0001213900-26-064249:1
10,000 shares@ US$0.270.0048% mcap0.3% of flowClass A Common StockSEC:0001213900-26-060552:0
Canonical exit: 18 Aug 2026 (T+90)
100,000 shares0Class A Common StockSEC:0001213900-26-041486:0
50,000 shares@ US$1.0049.6% of flowClass A Common StockSEC:0001213900-25-108613:0
Canonical exit: 5 Feb 2026 (T+90)
100,000 shares@ US$1.0010.5% of flowClass A Common StockSEC:0001213900-25-108618:0
Canonical exit: 5 Feb 2026 (T+90)
50,000 shares@ US$1.00100.0% of flowClass A Common StockSEC:0001213900-25-108615:0
Canonical exit: 5 Feb 2026 (T+90)
100,000 shares@ US$1.00100.0% of flowClass A Common StockSEC:0001213900-25-108614:0
75,000 shares0Class A Common StockSEC:0001213900-25-101336:1
100,000 shares0Class A Common StockSEC:0001213900-25-101336:2
550,000 shares0Class A Common StockSEC:0001213900-25-101346:0
75,000 shares0Class A Common StockSEC:0001213900-25-101344:0
125,000 shares0Class A Common StockSEC:0001213900-25-101342:0
50,000 shares0Class A Common StockSEC:0001213900-25-101340:0
275,000 shares0Class A Common StockSEC:0001213900-25-101338:0
50,000 shares0Class A Common StockSEC:0001213900-25-101336:0
75,000 shares0Class A Common StockSEC:0001213900-25-101334:0
20,000 shares@ US$1.4020.7% of flowCommon Shares, par value $0.0001SEC:0001798792-25-000010:1
20,000 shares@ US$1.4020.7% of flowCommon Shares, par value $0.0001SEC:0001798792-25-000010:2
20,000 shares@ US$1.4020.7% of flowCommon Shares, par value $0.0001SEC:0001798792-25-000010:3
10,000 shares@ US$1.4210.5% of flowCommon Shares, par value $0.0001SEC:0001798792-25-000010:4
14,000 shares@ US$1.6316.8% of flowCommon Shares, par value $0.0001SEC:0001798792-25-000010:5
10,000 shares@ US$1.43100.0% of flowCommon Shares, par value $0.0001SEC:0001798792-25-000010:0
147,058 shares@ US$1.363.0% of flowClass A Common StockSEC:0001213900-25-095500:0
Canonical exit: 29 Dec 2025 (T+90)
896,903 shares@ US$1.059214.1% of flowClass A Common StockSEC:0001213900-25-092326:0
Canonical exit: 9 Dec 2025 (T+90)
25 of 108 declarations
About Marpai, Inc.
Marpai, Inc. is a U.S.-based healthcare services and technology company headquartered in Tampa, Florida, United States. The shares were formerly listed on the Nasdaq Capital Market under the ticker MRAI before the company transitioned trading to the OTCQX market. For investors, Marpai is best understood as a small-cap healthcare administration platform focused on self-funded employer health plans, with an operating model built around technology-enabled benefits administration and adjacent pharmacy services.
At the core of Marpai’s business is Third-Party Administration (TPA) for self-insured employers. Through its subsidiaries, the company provides back-office administration for health and welfare plans, including claims administration, dependent eligibility verification, COBRA administration, benefit billing, and related call-center support. The company emphasizes that these services are supported by a customized technology platform. Marpai also highlights the use of artificial intelligence to identify at-risk members earlier, connect them with clinical solutions, and guide them toward lower-cost, in-network providers. In practical terms, the company is selling a combination of administrative outsourcing, analytics, and care-navigation tools designed to help employers manage healthcare spend.
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Marpai’s corporate history reflects a relatively recent formation and a continuing strategic reset. Public filings indicate that Marpai Captive was founded in March 2022 as a Delaware corporation, underscoring the company’s effort to broaden its ecosystem beyond traditional TPA work. More recently, Marpai has expanded its footprint with MarpaiRx, its pharmacy benefit management initiative. That move is strategically important because PBM capabilities can deepen client relationships, increase recurring revenue potential, and provide another lever for cost containment in employer-sponsored healthcare.
Competitive positioning is a key consideration. Marpai operates in a large but highly competitive and fragmented market where scale matters, and where larger national administrators and benefit managers often enjoy stronger purchasing power, broader networks, and more established distribution. Marpai’s differentiation is therefore more niche than universal: it targets self-funded employers, promotes a technology-led operating model, and seeks to win business through smarter claims administration and cost-optimization rather than through sheer size. The company’s competitive edge depends on execution, customer acquisition, and its ability to translate technology claims into measurable client savings.
Recent developments point to an improving operating narrative. In May 2026, Marpai announced significant new business wins across both TPA and MarpaiRx and said those wins reinforce its profitability outlook. In March 2026, it also disclosed a marketing arrangement intended to expand the reach of MarpaiRx. Across its latest communications, management has stressed cost discipline, operational improvement, and a path toward profitability. For market participants, Marpai remains a turnaround story rather than a mature healthcare incumbent, but one with a clear strategic focus and identifiable catalysts in the U.S. market.
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