This cluster is routine and non-informative. The sales are small relative to market cap, all tied to option exercises, and consistent with standard cashless exercise patterns. No bearish signal. Monitor the next 8-K or earnings release for any fundamental changes, but this filing alone does not warrant action.
Price Chart
Executive Summary
Three NBIX insiders, including the Chief Scientific Officer, sold a combined $2.67M in open-market shares over a 4-day window. All sales were preceded by option exercises at zero or low cost, indicating routine cashless exercises rather than opportunistic bearish bets. The total value represents ~0.016% of NBIX's $16.2B market cap — a trivial amount with no material signaling value.
Key Financial Metrics
Key Facts
- Three insiders sold a total of $2.67M in open-market shares between May 26-29, 2026
- Chief Scientific Officer Onyia Jude sold $1.71M (11,000 shares at $155.53) after exercising options at $84.74
- Chief Corp. Affairs Officer Boyer David W. sold $609K (3,890 shares at $156.64)
- Chief Regulatory Officer Delaet Ingrid sold $354K (2,261 shares at $156.71) after exercising options at $79.02
- Total sales equal ~0.016% of NBIX's $16.2B market cap — well below the 0.1% materiality threshold
- All sales were preceded by option exercises, consistent with routine cashless exercises for tax/vesting purposes
- No open-market purchases were made by any insider during the window
Financial Impact
$2.67M in insider sales, representing 0.016% of market cap
Risk Factors
- Insiders may continue selling if the stock appreciates further, but no evidence of coordinated bearish view
- No purchases to offset the selling — but the dollar amounts are too small to infer negative sentiment
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-NBIX-1780437825000 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 16d ago | Insider Cluster | $149.50 $139.49 | ▼ −6.70% | ▼ −9.26% | $143.18 (−4.23%) |
Jul 13, 2026 11w ago | Insider Cluster | $174.10 $170.88 | ▼ −1.85% | ▼ −1.06% | $143.18 (−17.76%) |
Jul 9, 2026 12w ago | Press Release | $177.11 $171.55 | ▼ −3.14% | ▼ −2.58% | $143.18 (−19.16%) |
Jun 9, 2026 16w ago | Insider Cluster | $160.86 $156.42 | ▼ −2.76% | ▼ −6.19% | $143.18 (−10.99%) |
Jun 8, 2026 16w ago | Insider Cluster | $165.24 $159.51 | ▼ −3.47% | ▼ −5.88% | $143.18 (−13.35%) |
Jun 8, 2026 16w ago | Insider Cluster | $165.24 $159.51 | ▼ −3.47% | ▼ −5.88% | $143.18 (−13.35%) |
Jun 4, 2026 17w ago | Insider Cluster | $163.88 $159.76 | ▼ −2.51% | ▼ −3.08% | $143.18 (−12.63%) |
Jun 2, 2026 17w ago | Insider Cluster | $164.23 $160.86 | ▼ −2.05% | ▲ +1.77% | $143.18 (−12.81%) |
Jun 2, 2026 17w ago | Insider Cluster | $164.23 $160.86 | ▼ −2.05% | ▲ +1.77% | $143.18 (−12.81%) |
Jun 2, 2026 17w ago | Insider Cluster | $164.23 $160.86 | ▼ −2.05% | ▲ +1.77% | $143.18 (−12.81%) |
US Market Status
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