The cluster is routine and non-informative — all sales are tied to derivative exercises and vesting, with dollar amounts trivial relative to market cap. No bearish read-through. Monitor for any upcoming earnings or pipeline catalysts that could drive stock movement independent of insider activity.
Price Chart
Executive Summary
Four NBIX C-suite insiders sold a total of $4.93M in open-market shares over a 7-day window, with the largest sales by the Chief Human Resources Officer ($2.20M) and Chief Scientific Officer ($1.76M). The cluster is entirely sell-side, with no open-market purchases, and all sales are accompanied by derivative exercises or tax-withholding transactions, suggesting a liquidity/vesting pattern rather than a coordinated bearish signal. At $4.93M, the cluster represents ~0.03% of NBIX's $16.6B market cap — a trivial proportion that does not warrant a bearish read.
Key Financial Metrics
Key Facts
- 4 insiders sold $4.93M in open-market shares over 7 days (May 26–June 2, 2026)
- Largest seller: Chief Human Resources Officer Julie Cooke sold $2.20M on June 2
- Chief Scientific Officer Jude Onyia sold $1.76M on June 1
- All sales are accompanied by derivative exercises or tax-withholding transactions (non-cash events)
- Total cluster value is ~0.03% of NBIX's $16.6B market cap — well below the 0.1% materiality threshold
- No open-market purchases in the cluster; net direction is selling
- Historical calibration shows score-7/8 reports on NBIX have low observed P (24-33%) and negative net alpha at T+20
Financial Impact
Total insider sales of $4.93M, representing ~0.03% of market cap
Risk Factors
- Insider sales are not predictive of near-term stock performance in this context
- No material risk identified from this cluster alone
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-1780610678145 |
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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