Ligand Pharmaceuticals Inc.(NASDAQ:LGND) saw an insider lower his position in the company today. The Director Jason Aryeh acquired 11,000 shares of common stock at an average price of $43 per share. Following this transaction, Aryeh holds 260,741 shares indirectly; while holding 60,695 shares directly.

A $877.9 million market cap company, Ligand Pharmaceuticals Inc. (NASDAQ:LGND) is a biotechnology company that operates with a business model focused on developing or acquiring assets. The therapies in its portfolio in development address the unmet medical needs of patients for a spectrum of diseases, including hepatitis, muscle wasting, Alzheimer’s disease, dyslipidemia, diabetes, anemia, asthma, rheumatoid arthritis and osteoporosis.

In addition, among the multiple institutional investors currently involved in the company is Columbus Circle Investors, the fund run by billionaire Donald Chiboucis. After lowering its holdings in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 10% last quarter, the fund now holds 260,157 shares worth about $16.2 million.

Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.

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