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Biotech / Medical : Ligand (LGND) Breakout!
LGND 197.62+0.1%Dec 24 12:59 PM EST

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To: bob zagorin who wrote (24617)8/17/1998 11:49:00 AM
From: Henry Niman  Read Replies (1) of 32384
 
As far as the AGN overhang is concerned, it is my understanding that AGN had 3.4 million shares of LGND. I believe that they sold 1.1 million in 2Q. Recently (about 1 1/2 weeks ago), there was a high volume trading day (over 600K) which included some large blocks (40K to 60K) going off at the bid price (there were more blocks in that range going off at the ask price and the price range of these large blocks was tight, I believe that all went off between 9 7/8 and 10).

Since then I have only seen two large blocks in that size range. One was the next day at 10 1/32 and the other was today at 8 11/12.
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