The CEO's $1.01M open-market sale without a 10b5-1 plan is the strongest bearish signal in this cluster. Monitor for any upcoming earnings pre-announcement, guidance revision, or material corporate event that may have prompted the selling. The CTO's concurrent sale adds weight to the signal.
Price Chart
Executive Summary
Three insiders at BillionToOne, including the CEO and CTO, sold a total of $1.59M in open-market sales over a one-week window. The CEO alone sold $1.01M, representing the largest insider sale at the company since its IPO. The cluster is material relative to the company's market cap and lacks any disclosed 10b5-1 plan, making it a bearish signal.
Key Financial Metrics
Key Facts
- CEO Oguzhan Atay sold 8,300 shares for $1.01M on 2026-09-28 at $120.64.
- CTO David Tsao sold 3,300 shares for $417K on 2026-09-24 at $125.00.
- SVP John ten Bosch sold 1,400 shares for $170K on 2026-09-24 at $120.00.
- Total insider sales of $1.59M represent approximately 0.49% of market cap (based on $326M market cap).
- No 10b5-1 trading plans were indicated for any of the sales.
- The CEO's sale is the largest insider sale at BLLN since its IPO.
Financial Impact
Total insider sales of $1.59M, approximately 0.49% of market cap, with CEO sale alone at $1.01M.
Risk Factors
- Insider sales may be for personal diversification or tax planning, not necessarily signaling fundamental deterioration.
- The company may have upcoming positive catalysts (e.g., product launch, FDA decision) that insiders are not reacting to.
- The cluster is modest relative to market cap (0.49%), which limits the bearish magnitude.
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-BLLN-1790814819622 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 30, 2026 26d ago | Insider Cluster | $105.76 | awaiting T+60 | — | $114.07 (−7.86%) |
Sep 28, 2026 29d ago | Insider Cluster | $118.18 | awaiting T+60 | — | $114.07 (+3.48%) |
Sep 23, 2026 4w ago | Insider Cluster | $124.90 | awaiting T+60 | — | $114.07 (+8.67%) |
Sep 22, 2026 5w ago | Institutional Cluster | $116.07 | awaiting T+60 | — | $114.07 (−1.72%) |
Sep 21, 2026 5w ago | Insider Cluster | $116.07 | awaiting T+60 | — | $114.07 (+1.72%) |
Sep 16, 2026 5w ago | Insider Cluster | $110.67 | awaiting T+60 | — | $114.07 (−3.07%) |
Sep 11, 2026 6w ago | Insider Cluster | $100.82 | awaiting T+60 | — | $114.07 (+13.14%) |
Sep 11, 2026 6w ago | Insider Cluster | $100.82 | awaiting T+60 | — | $114.07 (+13.14%) |
Aug 27, 2026 8w ago | Insider Cluster | $93.24 | awaiting T+60 | — | $114.07 (+22.34%) |
Aug 27, 2026 8w ago | Insider Cluster | $93.24 | awaiting T+60 | — | $114.07 (+22.34%) |
US Market Status
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