XTX Topco Ltd Makes New Investment in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

XTX Topco Ltd acquired a new position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,067 shares of the biotechnology company's stock, valued at approximately $329,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in Ligand Pharmaceuticals by 119.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company's stock valued at $43,000 after purchasing an additional 221 shares during the period. Redwood Park Advisors LLC acquired a new position in Ligand Pharmaceuticals in the fourth quarter valued at $48,000. Sterling Capital Management LLC boosted its holdings in shares of Ligand Pharmaceuticals by 825.4% in the fourth quarter. Sterling Capital Management LLC now owns 546 shares of the biotechnology company's stock valued at $59,000 after acquiring an additional 487 shares during the period. US Bancorp DE raised its holdings in shares of Ligand Pharmaceuticals by 14.8% in the fourth quarter. US Bancorp DE now owns 758 shares of the biotechnology company's stock valued at $81,000 after buying an additional 98 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Ligand Pharmaceuticals by 49.7% in the 4th quarter. KBC Group NV now owns 904 shares of the biotechnology company's stock valued at $97,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

Ligand Pharmaceuticals Trading Up 1.1 %

Shares of LGND stock traded up $1.19 on Tuesday, reaching $110.07. The company had a trading volume of 3,825 shares, compared to its average volume of 119,895. Ligand Pharmaceuticals Incorporated has a 12 month low of $69.51 and a 12 month high of $129.90. The stock has a market cap of $2.12 billion, a PE ratio of 43.88 and a beta of 1.07. The company has a 50-day moving average of $108.52 and a 200-day moving average of $112.43.

Insider Buying and Selling

In other news, CFO Octavio Espinoza sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total transaction of $575,150.00. Following the transaction, the chief financial officer now owns 18,879 shares in the company, valued at approximately $2,171,651.37. This trade represents a 20.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on LGND shares. Stifel Nicolaus began coverage on Ligand Pharmaceuticals in a report on Thursday, April 10th. They set a "buy" rating and a $143.00 price objective for the company. StockNews.com upgraded Ligand Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Ligand Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $146.43.

Ligand Pharmaceuticals Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.