Polaris Venture Management Co. V, L.L.C.

Filings by Polaris Venture Management Co. V, L.L.C. span 12 companies, the busiest being Cardlytics, Inc., X4 Pharmaceuticals, Inc and Fate Therapeutics Inc. In total, 220 filings cover trades dated from 25 September 2013 to 5 May 2020.

The open-market side counts 20 purchases for €23.0M alongside 89 sales for €40.2M. The net balance comes to €17.2M on the selling side. Open-market purchases are the filings investors watch most closely, because the insider pays for the shares out of pocket. Outside the open market, there are 4 share grants and 4 option exercises. So far in 2020, the count stands at 4 purchases and 4 sales.

In size, the median ticket on the buying side is €55k. On 8 out of 9 purchases, another insider of the same company was buying within the same 30 days. When several insiders buy within a few weeks of each other, analysts speak of a cluster purchase. Looking at 15 purchases old enough to measure, the stock rose over the following 90 days in 33% of cases; the median change was -4.9%. This is a record of the past, not a forecast.

The latest filing, published on 6 May 2020, reports a transaction in Lyra Therapeutics, Inc. The latest purchase dates back some time: it was published 2,377 days ago, on 6 May 2020. Typically, a trade is published a median of 2 days after it takes place. Section 16 rules allow two business days to file each Form 4. Selling is not necessarily a view on the stock: liquidity needs and diversification are common motives. Every figure here comes from the filings published by SEC (Form 4) and describes the past, not future prices; it is not investment advice.