BlackRock Trims Ligand Pharma Stake to 6.1%
Ticker: LGNZZ · Form: SC 13G/A · Filed: Jan 22, 2024 · CIK: 886163
| Field | Detail |
|---|---|
| Company | Ligand Pharmaceuticals Inc (LGNZZ) |
| Form Type | SC 13G/A |
| Filed Date | Jan 22, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, stake-change, amendment, pharmaceuticals
TL;DR
**BlackRock slightly cut its stake in Ligand Pharma to 6.1%.**
AI Summary
BlackRock, Inc. filed an amended SC 13G/A on January 22, 2024, indicating a change in its ownership of Ligand Pharmaceuticals Incorporated's common stock as of December 31, 2023. This amendment, the 16th for BlackRock regarding Ligand, shows that BlackRock now beneficially owns 4,879,599 shares, representing 6.1% of the company's outstanding common stock. This matters to investors because BlackRock, a major institutional investor, has slightly reduced its stake from the previously reported 6.2% (as per the last 13G/A filing on January 26, 2023, where they held 4,964,432 shares), signaling a minor shift in their investment conviction.
Why It Matters
A slight reduction in BlackRock's stake could signal a minor change in their outlook on Ligand Pharmaceuticals, which might influence other investors' perceptions of the stock.
Risk Assessment
Risk Level: low — The change in ownership is minor, representing only a 0.1% decrease in BlackRock's stake, and does not indicate a significant shift in control or strategy.
Analyst Insight
Investors should note BlackRock's minor reduction in stake, but recognize it's not a major divestment. It might be prudent to monitor future filings for more significant changes in institutional ownership, but this specific filing doesn't warrant immediate action.
Key Numbers
- 4,879,599 — Shares Beneficially Owned (This is the total number of Ligand Pharmaceuticals shares BlackRock, Inc. reported owning as of December 31, 2023.)
- 6.1% — Percentage of Class (This represents BlackRock's ownership percentage of Ligand Pharmaceuticals' common stock, indicating a slight decrease from previous filings.)
- 16 — Amendment Number (This is the 16th amendment to the Schedule 13G filed by BlackRock regarding Ligand Pharmaceuticals, showing ongoing adjustments to their position.)
Key Players & Entities
- BlackRock, Inc. (company) — the reporting person and institutional investor
- Ligand Pharmaceuticals Incorporated (company) — the subject company whose stock is being reported
- 4,879,599 shares (dollar_amount) — the number of shares beneficially owned by BlackRock as of December 31, 2023
- 6.1% (dollar_amount) — the percentage of Ligand Pharmaceuticals' common stock beneficially owned by BlackRock
- December 31, 2023 (date) — the date of the event which required the filing
- January 22, 2024 (date) — the filing date of the SC 13G/A amendment
Forward-Looking Statements
- BlackRock will continue to hold a significant, but potentially fluctuating, stake in Ligand Pharmaceuticals. (BlackRock, Inc.) — medium confidence, target: December 31, 2024
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No: 16) by BlackRock, Inc. to report a change in its beneficial ownership of Ligand Pharmaceuticals Incorporated's common stock as of December 31, 2023, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
Who is the reporting person in this filing and what is their ownership percentage?
The reporting person is BlackRock, Inc., and they beneficially own 4,879,599 shares, which represents 6.1% of the common stock of Ligand Pharmaceuticals Incorporated as of December 31, 2023.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was December 31, 2023.
What is the CUSIP number for Ligand Pharmaceuticals Incorporated's common stock?
The CUSIP number for Ligand Pharmaceuticals Incorporated's common stock is 53220K504.
How many shares does BlackRock, Inc. have sole voting power and sole dispositive power over?
The filing indicates that BlackRock, Inc. has sole voting power over 4,879,599 shares and sole dispositive power over 4,879,599 shares of Ligand Pharmaceuticals Incorporated's common stock.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 22, 2024 regarding LIGAND PHARMACEUTICALS INC (LGNZZ).