Blanchard Cheryl R

Blanchard Cheryl R, President, CEO, and Director, has demonstrated a clear selling bias in her recent insider transactions, exclusively divesting shares in Anika Therapeutics (ANIK) while showing no recorded purchases across her holdings. Over 32 reported transactions, her total sell value amounts to $1,689,201, with no buy activity. Notably, her most significant disposals occurred in March 2026, including a $209,138 sale on March 14 and a $171,877 transaction the following day. These followed earlier sales in March 2025, where she offloaded $193,338 and $212,813 worth of ANIK shares on the 17th and 11th, respectively. The transactions, coded as "F" (representing dispositions under Rule 16b-3), suggest systematic liquidation rather than discretionary market timing. While Blanchard’s activity in ANIK has been consistent, her involvement with Vigil Neuroscience (VIGL) appears limited to derivative transactions marked as "D" (dispositions to the issuer) in August 2025, all with zero reported value. The absence of any equity sales in VIGL contrasts sharply with her repeated ANIK disposals, reinforcing her focus on reducing exposure to a single holding. The pattern—concentrated sales in one company over multiple years—indicates a deliberate unwinding of positions rather than portfolio rebalancing. The lack of buys across both ANIK and VIGL further underscores this one-directional trend.