Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

LIGAND PHARMACEUTICALS INC (LGND)

326 + Investors. Track Smart Money conviction in LGND. See who's accumulating, reducing, or initiating positions.

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Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +35
Streak
9Q ▲
Buyers last Q
56%

Smart Money Signals — LGND

Based on 320 hedge funds · latest filing: 2025 Q4 · updated quarterly

📈

Buying streak — 9 quarters in a row

last 6Q
For 9 consecutive quarters, more hedge funds added LGND than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
320 hedge funds hold LGND right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
🚀

Fast accumulation — +36% more funds vs a year ago

fund count last 6Q
+84 new funds entered over the past year (+36% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟡

Slight buying edge — 56% buying

175 buying139 selling
Last quarter: 175 funds bought or added vs 139 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️

Steady new buyers — ~66 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 31 → 28 → 66 → 66. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

59% of holders stayed for 2+ years

59% conviction (2yr+) 22% medium 19% new
189 out of 320 hedge funds have held LGND for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💰

Price up while funds trimmed (+7% value, -44% shares)

Value
+6%
Shares
-43%
Last quarter: total value of institutional LGND holdings rose +7% even though funds reduced share count by 44%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
🚀

Acceleration phase — new buyers rushing in

37 → 31 → 28 → 66 → 66 new funds/Q
New funds entering each quarter: 31 → 28 → 66 → 66. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️

Deep conviction — 66% of holders stayed 2+ years

66% veterans 11% 1-2yr 22% new
Of 326 current holders: 216 (66%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
🏆

Elite ownership — 50% AUM from top-100 funds

50% from top-100 AUM funds
40 of 320 holders are among the 100 largest funds by AUM, controlling 50% of total institutional value in LGND. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.0
out of 10
Moderate Exit Risk
Exit risk score 4.0/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Hedge Fund Ownership: LGND

How many hedge funds hold LGND — quarterly history vs. share price
Quarterly hedge fund ownership of LGND vs. share price

Market Analysis: LGND

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: LGND

-- --
Smart Money Signal ?
Broad Consensus, Selective Conviction

Many quality funds hold this stock, but top-tier positions remain relatively small.

52 top-rated funds 1 high-conviction
Consensus
7.5
/ 10
breadth
×
Elite
1.5
/ 10
conviction
Hedge Fund Positioning: LGND
2026 Q1 Stats Unlock in 21 days 326 + Investors

Track Smart Money conviction in LGND. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 326 291 12.03%
13F Shares 21M 37M -43.56%
Total Value $3.88B $3.63B 6.75%
New Positions 66 66 -
Increased Positions 117 100 +17
Closed Positions 31 25 +6
Reduced Positions 117 96 +21
Total Calls 4 4 -
Total Puts 2 2 -
PUT/CALL Ratio 0.5 0.5 Bullish

Statistics: LGND

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
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Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
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Institutional Holders (2026 Q1)

326 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in LGND. Verified SEC 13F-HR filings.

Top 25 institutional holders of LGND — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Chicago Capital, LLC 3.02% 561,675 $112.1M
2 Stephens Investment Management Group LLC 1.35% 494,670 $98.8M
3 CONGRESS ASSET MANAGEMENT CO 0.72% 504,637 $100.8M
4 MOODY ALDRICH PARTNERS LLC 0.53% 14,675 $2.9M
5 WOODSTOCK CORP 0.34% 19,120 $3.8M
6 City Center Advisors, LLC 0.33% 1,795 $358K
7 CWC Advisors, LLC. 0.32% 3,389 $677K
8 Linden Thomas Advisory Services, LLC 0.32% 16,669 $3.3M
9 1492 Capital Management LLC 0.15% 1,958 $391K
10 Moran Wealth Management, LLC 0.12% 19,306 $3.9M
11 NJ State Employees Deferred Compensation Plan 0.10% 5,000 $886K
12 CONTRAVISORY INVESTMENT MANAGEMENT, INC. 0.08% 2,020 $403K
13 China Universal Asset Management Co., Ltd. 0.05% 3,539 $707K
14 Abel Hall, LLC 0.05% 1,112 $222K
15 BTC Capital Management, Inc. 0.03% 2,390 $477K
16 Steigerwald, Gordon & Koch Inc. 0.03% 1,566 $313K
17 Louisiana State Employees Retirement System 0.03% 8,700 $2K
18 State of Alaska, Department of Revenue 0.03% 13,356 $3K
19 NORDEN GROUP LLC 0.02% 1,259 $251K
20 Inspire Investing, LLC 0.01% 909 $181K
21 PROFUND ADVISORS LLC 0.01% 1,880 $375K
22 YOUSIF CAPITAL MANAGEMENT, LLC 0.01% 5,363 $1.1M
23 Pictet Asset Management Holding SA 0.01% 60,737 $11.7M
24 HARBOR CAPITAL ADVISORS, INC. 0.01% 694
25 Sowell Financial Services LLC 0.01% 1,516 $303K
Investor Ownership
History
% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — LIGAND PHARMACEUTICALS INC (LGND)

What does the Smart Money Trend signal show for LGND?

Buying streak — 9 quarters in a row: For 9 consecutive quarters, more hedge funds added LGND than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for LGND?

Slight buying edge — 56% buying: Last quarter: 175 funds bought or added vs 139 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for LGND holders?

Elite ownership — 50% AUM from top-100 funds: 40 of 320 holders are among the 100 largest funds by AUM, controlling 50% of total institutional value in LGND. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held LGND?

59% of holders stayed for 2+ years: 189 out of 320 hedge funds have held LGND for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.