CAPR vs IBRX vs SLS vs IOVA: Whose Insiders Cashed Out The Most — And Who Bought Before A 5X Surge?

• ImmunityBio insiders led with $9.51 million in sales, including $4.41 million from director Barry Simon.
• Capricor insiders sold $8.37 million in shares, retaining $7.30 million before taxes and fees after option costs.
• All six sellers at ImmunityBio and Capricor used prearranged Rule 10b5-1 trading plans.

Investors watching Capricor, ImmunityBio, Sellas and Iovance have more than drug milestones to consider. Insiders at two companies collected nearly $18 million from share sales, while one director bought before the stock rose more than fivefold.

ImmunityBio insiders collected the most from share sales over the past year, while Capricor’s sellers received prices well above where the stock later traded. Sellas director Katherine Bach Kalin stood out as the only open-market buyer across the four companies. Meanwhile, Iovance insiders stayed on the sidelines, reporting no open-market trades, according to data compiled by Fiscal AI. 

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IBRX Directors Cash In Under Trading Plans

Barry Simon, a director at ImmunityBio, collected $4.41 million from share sales — the most of any insider across the four companies. He and fellow directors Cheryl Cohen and Christobel Selecky sold a combined 1.04 million shares for $9.51 million. Simon’s last sale, of 25,000 shares on Oct.5, trimmed less than 1% of his direct holdings, leaving him with nearly 2.78 million shares. 

Cohen’s Oct.2 sale made a bigger dent in her existing stake. She exercised options for 55,979 shares at $2.98 and sold 81,056 shares at $10.50, ending the day with 25,077 fewer shares. Together, her sale and Simon’s October trade brought in $1.12 million. 

All three directors sold under prearranged Rule 10b5-1 plans. The October trades came shortly before the FDA expanded Anktiva’s bladder cancer indication on Oct.14. Richard Adcock, ImmunityBio’s CEO, said, “The recent label expansion represents an important opportunity to broaden access to ANKTIVA for a significantly larger patient population.”

CAPR Insiders Turn Options Into Millions

Capricor CFO Anthony Bergmann, general counsel Karen Krasney and director Karimah Es Sabar sold 272,529 shares for $8.37 million between March 31 and June 25. Each of the 13 sales matched an option exercise the same day, keeping their previously held common shares intact. After paying about $1.07 million to exercise the options, they were left with $7.30 million before taxes and fees. 

The three adopted their trading plans in December 2025, months before the FDA reopened its Deramiocel review in March. Their selling had ended by July’s unfavorable advisory vote on the therapy’s use for Duchenne-related heart disease. Capricor now awaits a Nov.22 FDA decision on an amended application focused on arm and hand impairment in Duchenne muscular dystrophy patients older than nine. “As we approach our PDUFA date, we remain confident in the strength of our data,” CEO Linda Marban said.

SLS Director’s Buy Gains 430% Ahead Of REGAL Results

Sellas director Katherine Bach Kalin bought 63,400 shares for about $100,806 on Nov.19, 2025, a week after the company updated investors on its Regal leukemia trial. The purchase more than doubled her direct holdings to 104,400 shares. 

Nearly a year later, that purchase would have been worth $534,000 as of Wednesday, if she kept the shares. This is 5.3 times what she paid, a paper gain of $433,000, or 430%, ahead of Regal’s final results.

The Phase 3 trial reached the 80 deaths required for its final survival analysis last month. It tests whether Galinpepimut-S helps acute myeloid leukemia (AML) patients live longer after a second complete remission, with results expected this quarter. “Reaching the 80th event represents a critical milestone in the REGAL trial,” CEO Angelos Stergiou said.

Institutional investors also increased their Sellas exposure. They added a net 18.8 million shares in the quarter ended June 30, lifting ownership to 36%, according to Fiscal AI. Over the same quarter, they cut their Capricor holdings by 1.9 million shares, though they still owned 55% of the company.

IOVA Insiders Stay On The Sidelines

On the other hand, Iovance insiders made no open-market trades over the past year as sales of Amtagvi, its melanoma cell therapy, continued to climb. U.S. sales rose 77% to about $102 million, helping push Q3 product revenue up 80% from a year earlier. 

“Third quarter revenue reached a new record of ~$122 million with our highest gross margin ever, driven by continued U.S. Amtagvi demand,” interim CEO Frederick Vogt said. The company maintained its 2026 revenue forecast of $410 million to $420 million and is planning a 2027 FDA filing to expand Amtagvi’s use to lung cancer.

How Do Retail Traders Feel About Biotech Stocks?

On Stocktwits, CAPR led with ‘extremely bullish’ sentiment and ‘extremely high’ message volume, followed by IBRX at ‘bullish’ and ‘high,’ while SLS and IOVA drew ‘bearish’ sentiment on ‘normal’ and ‘low’ volume, respectively. 

One user said about CAPR, “I’m bullish about approval but I still see significant risk.” 

Another user said, “A regular communication schedule, such as a quarterly update or periodic shareholder letter, would go a long way toward building confidence.” A separate user said, “If REGAL delivers, this could be a COMPANY-DEFINING moment.” 

IBRX led the year-to-date gains with a 237% surge, followed by IOVA at 196% and SLS at 123%, while CAPR lagged with a 61% decline. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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