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

To: Henry Niman who wrote (15006)	2/13/1998 1:02:00 PM
From: Brian Moore	Read Replies (1) \| Respond to of 32384

I notice that Ligand fell sharply during the first quarter of '97 -- lost almost half its value. The stock moved up dramatically during the next two quarters -- pretty much doubling. It then fell dramatically during the last quarter of '97, loosing perhaps 40%. These are pretty dramatic moves. Can you tell those of us who are new to the thread what factors contributed to them?

To: Henry Niman who wrote (15006)	2/18/1998 11:16:00 AM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

Brian, Here's a somewhat updated list of major shareholders in LGND: Top Institutions Chg in Shrs Shrs Held Date Rptd % Hld FIDELITY MGMT & RES CORP -72 1,718 09/30/97 4.9 WARBURG PINCUS ASSET MGT 1,024 1,325 12/31/97 3.8 WISCONSIN INVESTMT BOARD -50 923 12/31/97 2.6 DEERFIELD MANAGEMENT 50 700 12/31/97 2.0 WELLINGTON MANAGEMENT CO -39 680 09/30/97 1.9 COLUMBIA MANAGEMENT CO -74 567 12/31/97 1.6 BARCLAYS BANK PLC 7 529 09/30/97 1.5 FRANKLIN RESOURCES INC 0 525 09/30/97 1.5 BEAR STEARNS & CO 56 468 09/30/97 1.3 BANKERS TRUST N Y CORP 75 464 09/30/97 1.3 --(000)-- Top Mutual Funds Chg in Shrs Shrs Held Date Rptd % Hld FIDELITY SEL BIOTECH 5 912 08/31/97 2.6 T ROWE PRICE NEW HORIZON 30 448 06/30/97 1.3 VANGUARD EXPLORER FUND 50 350 09/30/97 1.0 KEMPER TECHNOLOGY FUND 275 275 10/31/97 0.8 PUTNAM HEALTH SCIENCES 10 200 08/31/97 0.6 FIDELITY OTC PORTFOLIO -40 160 07/31/97 0.5 CMC SMALL CAP -189 127 04/30/97 0.4 STEINROE SPECIAL VENTURE 0 120 09/30/97 0.3 DEAN WITTER HLTH SCIENCE -30 100 07/31/97 0.3 VANGUARD INDEX-SM CAP ST 0 77 09/30/97 0.2