Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 202.04

-1.9%

1:55 PM EST

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To: WTDEC who wrote (19762)	4/28/1998 7:30:00 PM
From: Torben Noerup Nielsen	Read Replies (2) of 32384

Anyone notice that there was a lot of volume in the warrants today? And most of it seems to have been at a fairly good price (no silly arguments about sells, buys or swaps here please)? Somebody is stocking up. Also, I was just thinking about the Farallon filing saying that with 38M shares out, they were now below 5%. What really caught me was the 38M. I assume that is the total number of shares outstanding. But how many of those shares are actually participating in the market; i.e., how many are free from lockup restrictions and that sort of stuff? Does anyone know what the total number of ''liquid" shares is? That combined with the known short positions should give a pretty good idea of how many days of trading the present volume represents. One good thing about all this bobbing up, down and sideways by relatively small amounts (I think I have covered all possibilities so everyone should be happy) is that it exhausts available supply in this whole price range. If we get up to 16 again, we may not have any overhang left there. Cheers, Torben

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