Insider selling volume is sub-material (0.016% of cap) and entirely compensation-driven. This cluster does not signal operational concern. Monitor next quarterly earnings for any guidance change or pipeline update that could drive the stock — the 30d prior insider flow was 2 sales at $2.1M, consistent with routine diversification. No trade-level action warranted.
Price Chart
Executive Summary
Three C-suite officers at Neurocrine Biosciences sold a total of ~$2.73M in open-market shares within a 7-day window. All sales followed derivative exercises (non-cash M and A), and one officer (Boyer D.) sold without a prior M, which is routine compensation-driven selling. At $16.6B market cap, the cluster is ~0.016% of cap — below the 0.1% materiality floor for insider sales, rendering the cluster classificationally trivial. Per the asymmetry rule for sales (Alldredge 2019), no amplification is applied.
Key Financial Metrics
Key Facts
- Cluster: 3 C-suite officers sold ~2.73M in open-market shares over 7 days (May 26 – June 2, 2026)
- Largest sale: CSO Onyia Jude sold $1.76M (11K shares at ~$160.25) after exercising options
- CRO Delaet Ingrid sold $354K; Chief Corp. Affairs Boyer D.W. sold $609K; CMO Keswani had only non-cash derivative activity
- Total open-market sales: ~$2.73M, or ~0.016% of $16.6B market cap — below the 0.1% materiality floor
- All sales were preceded by derivative exercises (M) or grants (A), consistent with compensation liquidity, not information-motivated selling
- No 10b5-1 plan designation was filed for any of these trades; non-10b5-1 sales carry slightly more signal than plan sales, but at 0.016% of cap the absolute magnitude is noise
Financial Impact
~$2.73M in insider open-market sales; immaterial relative to $16.6B market cap
Risk Factors
- Insider selling at low volume but by multiple C-suite members could indicate private caution even if below materiality floor
- Stock has significant pipeline concentration risk (Ingrezza, crinecerfont); any Phase 3/regulatory setback would hit all holders regardless of insider activity
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-1780610096737 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 17d 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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