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sellNotable cluster of 3

Nancy Ryan Gray sold $1.4M of LGND

director at LIGAND PHARMACEUTICALS INC. 6,571 shares at an average of $205.45, traded Nov 7, 2025, filed Nov 12, 2025.

Warning score
60
Value
$1.4M
6,571 shares
Holdings after
8,094
-56% from before
From 52-week low
+109%
low $96.67, close $202.48
From 52-week high
-3%
high $208.22, as of Nov 7, 2025

Score components

  • Role
    Director
    +15
  • Trade size
    $1.4M at market
    +25
  • Share of holdings sold
    Sold 56% of holdings
    +20
  • Cluster
    3 insiders selling within 14 days
    +15
  • Exercise and sell
    Shares came from an option exercise in the same filing
    -15

What happened after comparable sells

Same side and tier, against the S&P 500, at 1, 3 and 6 months. Shown to Pro users; the whole table is on the backtest page.

Price around the trade, and since

From a quarter before the trade to today. The arrow is the trade, the circle the day the filing reached EDGAR, which is the first day anyone outside could act; the dotted line is the S&P 500 rebased to that day's close.

LGNDOct 9, 2026 · close 301.81
Since filing Nov 12, 2025: +46.8%SPY +15.2% · excess +31.6%

Daily candles, adjusted for splits and dividends. Green arrows are insider buys, red are sells, sized by value; the dashed line is the close on the filing day, the dotted line SPY rebased to it.Charts by TradingView Lightweight Charts™

Rows in this filing

Every transaction in Form 4 0002001011-25-000098, as filed. Open on EDGAR

DateTransactionSharesPriceValueHoldings afterFiled
Nov 7, 2025MOption exercise
Common Stock
+3,556$66.19$235k11,650Nov 12, 2025
Nov 7, 2025SOpen-market sale
Common Stock
-3,556$205.45$731k8,094Nov 12, 2025
Nov 7, 2025MOption exercise
Common Stock
+3,015$73.57$222k11,109Nov 12, 2025
Nov 7, 2025SOpen-market sale
Common Stock
-3,015$205.45$619k8,094Nov 12, 2025
Nov 7, 2025MOption exercise
Non-Qualified Stock Option (right to buy)derivative
-3,556$0.00$00Nov 12, 2025
Nov 7, 2025MOption exercise
Non-Qualified Stock Option (right to buy)derivative
-3,015$0.00$00Nov 12, 2025

Related signals

Other insiders at LIGAND PHARMACEUTICALS INC and this insider’s other filings.

ScoreCompanyInsiderValueHoldingsFiled
10Weak
LGNDsell10b5-1
LIGAND PHARMACEUTICALS INC
Andrew Reardon
CLO & Secretary
$1.5M
5,000 shares
-14%
43Moderate
LGNDsell 2
LIGAND PHARMACEUTICALS INC
Martine Zimmermann
director
$342k
1,200 shares
-24%
33Weak
LGNDsell 210b5-1
LIGAND PHARMACEUTICALS INC
Andrew Reardon
CLO & Secretary
$1.4M
5,000 shares
-12%
45Moderate
LGNDsell 2
LIGAND PHARMACEUTICALS INC
Octavio Espinoza
Chief Financial Officer
$340k
1,804 shares
-6%
12Weak
LGNDsell 210b5-1
LIGAND PHARMACEUTICALS INC
John W Kozarich
director
$91k
467 shares
-1%
43Moderate
LGNDsell 3
LIGAND PHARMACEUTICALS INC
John L Lamattina
director
$859k
4,179 shares
-13%
19Weak
LGNDsell 310b5-1
LIGAND PHARMACEUTICALS INC
John W Kozarich
director
$89k
467 shares
-1%
12Weak
LGNDsell 210b5-1
LIGAND PHARMACEUTICALS INC
John W Kozarich
director
$84k
467 shares
-1%
53Moderate
LGNDsell 2
LIGAND PHARMACEUTICALS INC
Jason Aryeh
director
$1.7M
10,000 shares
-13%
3Weak
LGNDsell10b5-1
LIGAND PHARMACEUTICALS INC
John W Kozarich
director
$76k
467 shares
-1%

Not investment advice. Scores and forward returns are decision support built from public SEC filings and past prices; they describe what happened after comparable filings, not what will happen after this one. Do your own research and size your risk.

Nancy Ryan Gray sold $1.4M of LGND | InsiderTell