Form 4: Millennium Management Adjusts SNSE Stake, Disgorges Profits

Millennium Management LLC reported multiple purchases and sales of Sensei Biotherapeutics common stock in late March 2026, increasing its overall beneficial ownership and proactively disgorging potential short-swing profits.

Summary

• Millennium Management LLC, along with related entities ICS Opportunities II LLC, Millennium Group Management LLC, and Israel A. Englander, reported a series of transactions in Sensei Biotherapeutics, Inc. (SNSE) common stock.
• Transactions occurred on March 26, 2026, March 27, 2026, and March 30, 2026, involving both acquisitions and dispositions of common stock.
• On March 26, 2026, a total of 5,731 shares were acquired at volume-weighted average prices (VWAP) ranging from $27.2267 to $29.9788, and 1,857 shares were disposed of at VWAP ranging from $26.8797 to $28.6882. Beneficial ownership at the end of the day was 131,370 shares.
• On March 27, 2026, a total of 15,321 shares were acquired at VWAP ranging from $26.2933 to $28.1301, and 505 shares were disposed of at VWAP ranging from $26.7652 to $27.369. Beneficial ownership at the end of the day increased to 142,360 shares.
• On March 30, 2026, a total of 9,533 shares were acquired at VWAP ranging from $25.0784 to $27.68, and 888 shares were disposed of at VWAP ranging from $25.8501 to $27.68. Beneficial ownership at the end of the day further increased to 145,678 shares.
• The reporting persons have proactively disgorged to Sensei Biotherapeutics all amounts that could be deemed profit realized from these transactions, assuming the application of Section 16(b) of the Securities Exchange Act of 1934.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this filing as moderately positive. While the need for disgorgement suggests a potential compliance issue, the proactive resolution by Millennium Management LLC demonstrates strong adherence to regulatory requirements, which is a positive for corporate governance. The net increase in beneficial ownership also indicates continued confidence.

Positives

• The reporting persons proactively disgorged potential short-swing profits to the company, demonstrating a commitment to compliance with Section 16(b) regulations.
• Millennium Management LLC's beneficial ownership of Sensei Biotherapeutics common stock increased from 131,370 shares on March 26, 2026, to 145,678 shares on March 30, 2026, indicating continued investment in the company.

Negatives

• The necessity for disgorgement implies that transactions occurred which could be deemed to have generated short-swing profits under Section 16(b), potentially raising minor compliance concerns, although these were proactively addressed.

Risks

• Potential for regulatory scrutiny regarding the transactions that led to the disgorgement, even though the issue has been proactively addressed by the reporting persons.

Future Outlook

This Form 4 filing does not contain forward-looking statements or guidance regarding the company's future performance or strategic direction, as its purpose is to report insider transactions.

Management Comments

• "Assuming, without conceding, the application of Section 16(b) of the Securities Exchange Act of 1934, the reporting persons have disgorged to the Company all amounts that could be deemed profit realized by them from the transactions in the Company's Common Stock reported on this Form 4 and the other two statements on Form 4 filed by Millennium Management LLC on the same date."

Industry Context

StockSavvy.ai notes that Form 4 filings are routine disclosures for significant shareholders and insiders, reflecting their trading activity. The active trading by Millennium Management LLC, a prominent hedge fund, in Sensei Biotherapeutics' stock indicates ongoing portfolio management and position adjustments. The proactive disgorgement of potential short-swing profits highlights the strict compliance requirements for large institutional investors under SEC regulations.

Legal Proceedings

• The reporting persons have proactively disgorged potential short-swing profits to Sensei Biotherapeutics, Inc., addressing a potential issue under Section 16(b) of the Securities Exchange Act of 1934.

Related Party Transactions

• The transactions involve Millennium Management LLC and its affiliated entities (ICS Opportunities II LLC, Millennium Group Management LLC, and Israel A. Englander) as 10% owners of Sensei Biotherapeutics, Inc., making these related-party transactions.

Stakeholder Impact

• Shareholders: The proactive disgorgement of profits demonstrates the reporting persons' commitment to regulatory compliance, which can be viewed positively. The increased beneficial ownership may signal continued interest in the company.
• Regulatory Authorities: The filing shows adherence to SEC reporting requirements and proactive resolution of potential Section 16(b) issues.

Next Steps

• Ongoing compliance with Section 16(a) and 16(b) of the Securities Exchange Act of 1934 for future transactions by the reporting persons.

Key Dates

Keywords

Sensei Biotherapeutics, SNSE, Millennium Management, Form 4, Insider Trading, Beneficial Ownership, Stock Transactions, Section 16(b), Disgorgement