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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: lawrence lerner who wrote (28970)	6/25/1999 9:55:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

I think that the AGN overhang has been fairly well documented and discussed on this board quite some time ago. Do you have any reason to believe that the overhang is gone? LGND's volume has been rather light for some time. Yesterday and today, volume increased markedly and over 80% of the action each day was considered to be Institutional. Did you think that the 68K block that went off at the high for the day, 11 1/8, would go off at 12 or something like that? Yesterday and today, the large blocks traded in a VERY narrow range (yesterday over 700K traded and everything was between 11 and 11 1/8). These big boys are swapping large blocks at a mutually agreeable price, and I don't expect to see major moves until the overhead is gone, or AGN and others decide to sell at a higher level. I noted a while back that AGN was looking for double digits and it looks like they have found someone to help them unload at that level. Any comments on who the "interested" parties are?