SKYE Skye Bioscience, Inc. Insider Trading

5AM Partners VII, LLC sold 266,337 shares (80.1% of stake) at $6.57 average, reducing holdings to 66,277 shares

5AM Partners VII, LLC executed 6 separate sales totaling 266,337 shares for $1,750,352.22 on 2024-09-11 and 2024-09-13, at a blended average price of $6.57. The filing represents a major position reduction: the insider sold 80.1% of its pre-transaction holdings, retaining only 66,277 shares. The timing is notable given the insider's same-ticker history—both prior buys at SKYE showed positive 90-day returns (29.1% and 624.2%), establishing a pattern of well-timed entries; however, the current sell occurs as the stock is -66.7% from its 52-week high and -42.8% over 90 days. The underlying company remains unprofitable with net income of $-7,902,816.00. The scale and decisiveness of this exit—reducing the stake by four-fifths—distinguishes it from incremental reductions and warrants monitoring to determine whether this reflects changed conviction or portfolio reallocation.

Director Andrew Schwab sold 266,337 shares (80.1% of holdings) for $1,750,352.22 across 6 transactions.

Andrew Schwab, a director at Skye Bioscience, executed 6 separate sales totaling 266,337 shares for $1,750,352.22 on September 11 and 13, 2024, reducing his holdings from 332,614 shares to 66,277 shares—an 80.1% reduction. The transactions occurred at blended average price of $6.57, while the company has a current price of $6.00 and is trading 66.7% below its 52-week high of $18.00. Notably, the company reported net income of $-7,902,816.00 for its most recent full fiscal year, indicating sustained unprofitability. The scale and proportion of this divestiture—liquidating four-fifths of a director's stake—warrants attention, particularly given the company's negative earnings profile and stock performance decline from the 52-week high.