Ligand Pharmaceuticals Inc.(NASDAQ:LGND) saw an insider lower his exposure to the company today. The Director Jason Aryeh acquired 20,300 shares of common stock at prices ranging from $6.82 to $17.88 per share. Following this transaction, Aryeh holds a total of 53,360 shares directly, while holding 249,741 shares indirectly. A $989.57 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 with 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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