CEO & Director of Ligand Pharmaceuticals Todd Davis Buys 9.2% More Shares

Those following along with Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) will no doubt be intrigued by the recent purchase of shares by Todd Davis, CEO & Director of the company, who spent a stonking US$1.0m on stock at an average price of US$105. While that only increased their holding size by 9.2%, it is still a big swing by our standards.

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The Last 12 Months Of Insider Transactions At Ligand Pharmaceuticals

The insider, Matthew Korenberg, made the biggest insider sale in the last 12 months. That single transaction was for US$2.0m worth of shares at a price of US$106 each. So we know that an insider sold shares at around the present share price of US$103. While we don't usually like to see insider selling, it's more concerning if the sales take place at a lower price. Given that the sale took place at around current prices, it makes us a little cautious but is hardly a major concern.

Over the last year, we can see that insiders have bought 13.51k shares worth US$1.4m. But they sold 46.78k shares for US$4.9m. In total, Ligand Pharmaceuticals insiders sold more than they bought over the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

Check out our latest analysis for Ligand Pharmaceuticals

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Insider Ownership Of Ligand Pharmaceuticals

I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Ligand Pharmaceuticals insiders own about US$40m worth of shares. That equates to 2.0% of the company. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.

So What Does This Data Suggest About Ligand Pharmaceuticals Insiders?

It's certainly positive to see the recent insider purchases. But we can't say the same for the transactions over the last 12 months. The more recent transactions are a positive, but Ligand Pharmaceuticals insiders haven't shown the sustained enthusiasm that we look for, although they do own a decent number of shares, overall. So they seem pretty well aligned, overall. Therefore, you should definitely take a look at this FREE report showing analyst forecasts for Ligand Pharmaceuticals.

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For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.