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Biotech / Medical : Ligand - LGND - thread for non-PhDs
LGND 206.54+3.2%Jan 9 9:30 AM EST
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To: John Grandy who wrote ()1/20/1997 7:28:00 AM
From: Henry Niman   of 57
 
John, As far as the sell-off on the day of H&Q's presentation is concerned,
the same thing happened last year (LGND fell to 9 3/4 within a day or two
of its presentation and the 9 3/4 ended up being the low for the year
- LGND rose to 13 1/2 with 10 trading days and hit 19 3/4 a few months later
on leptin news). I didn't look at intraday trading last year, but this
year the price drop has punctuated by bursts of 1000 share blocks.
Most institutions would simple unload large positions in large blocks.
H&Q is a conference for institutional holder. The selling was almost
all retail (the following day showed 70 trades for the first 50,000
shares executed).

Henry

P.S. I don't expect a response from wholesale on this thread and they
were the attendees at H&Q.
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