Davis Todd C

Davis Todd C, CEO of Ligand Pharmaceuticals (LGND), has demonstrated a clear bias toward buying over selling in his recent insider transactions, with $16.1 million in total purchases compared to $7.8 million in sales. His activity has been concentrated almost exclusively in LGND, with only a single transaction in PTHS—a $15 million acquisition on July 1, 2025, classified as an open market or private purchase (Code C). The bulk of his LGND transactions involve derivative holdings, including multiple exercises of stock options (Code F) in February 2025 and February 2026, with notable transactions such as a $2.87 million acquisition on February 14, 2026, and a $1.5 million purchase the same day. Smaller option exercises, such as a $267,720 transaction on February 15, 2025, and a $782,197 transaction a year later, suggest a recurring pattern tied to equity compensation. While Davis has not engaged in recent open-market purchases or sales of LGND, his derivative transactions indicate a steady accumulation of shares. The absence of recent sales contrasts with earlier dispositions, such as the $235,372 and $191,970 sales in March 2024 (Code M). The lack of recent activity in PTHS beyond the mid-2025 acquisition suggests his focus remains on LGND. The data reflects a long-term holding strategy, with option exercises being the primary driver of his increased stake rather than opportunistic market moves.