Tax-loss harvesting alternatives for LGND

Among the 28 Biotechnology peers screened, CYTK (Cytokinetics) has tracked LGND most closely over the past year, with a return correlation of 0.33. The strongest fund stand-in is XBI (SPDR S&P Biotech ETF) at 0.46 over the past year. Correlations are computed from daily closing-price returns aligned by trading day.

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STOCKS

Single-name peers

Ticker	Name	Sub-industry	1Y	3Y	5Y	10Y
CYTK	Cytokinetics	Biotechnology	0.33	0.24	0.29	0.31
VIR	Vir Biotechnology, Inc.	Biotechnology	0.31	0.26	0.26	0.19
VCEL	Vericel	Biotechnology	0.28	0.30	0.34	0.27
RGEN	Repligen	Biotechnology	0.26	0.29	0.30	0.33
XNCR	Xencor Inc	Biotechnology	0.26	0.32	0.37	0.40
KRYS	Krystal Biotech	Biotechnology	0.26	0.28	0.24	0.25
NBIX	Neurocrine Biosciences	Biotechnology	0.24	0.22	0.25	0.31
ARWR	Arrowhead Pharmaceuticals	Biotechnology	0.24	0.29	0.35	0.32
INCY	Incyte	Biotechnology	0.24	0.26	0.27	0.29
EXEL	Exelixis	Biotechnology	0.24	0.18	0.25	0.29
ROIV	Roivant Sciences	Biotechnology	0.23	0.31	0.24	—
HRMY	Harmony Biosciences Holdings, Inc.	Biotechnology	0.23	0.27	0.27	0.23
PTGX	Protagonist Therapeutics, Inc.	Biotechnology	0.22	0.20	0.23	0.15
RCUS	Arcus Biosciences, Inc.	Biotechnology	0.21	0.29	0.34	0.29
VRTX	Vertex Pharmaceuticals	Biotechnology	0.21	0.20	0.21	0.30
REGN	Regeneron Pharmaceuticals	Biotechnology	0.20	0.21	0.22	0.31
SRPT	Sarepta Therapeutics	Biotechnology	0.19	0.17	0.21	0.25
AMGN	Amgen Inc.	Biotechnology	0.18	0.17	0.17	0.28
BIIB	Biogen Inc.	Biotechnology	0.18	0.23	0.27	0.26
BMRN	BioMarin Pharmaceutical	Biotechnology	0.17	0.21	0.29	0.34
HALO	Halozyme	Biotechnology	0.15	0.21	0.27	0.32
ADMA	ADMA Biologics, Inc.	Biotechnology	0.14	0.25	0.27	0.21
FTRE	Fortrea	Biotechnology	0.14	0.21	0.20	—
TGTX	TG Therapeutics, Inc.	Biotechnology	0.14	0.22	0.30	0.30
UTHR	United Therapeutics	Biotechnology	0.14	0.16	0.20	0.28
MRNA	Moderna Inc.	Biotechnology	0.14	0.16	0.18	0.17
ALNY	Alnylam Pharmaceuticals	Biotechnology	0.13	0.16	0.21	0.26
GILD	Gilead Sciences	Biotechnology	0.11	0.16	0.19	0.30

ETFS

Fund stand-ins

An ETF is generally not 'substantially identical' to a single stock, which is why funds are the standard wash-sale-aware replacement.

Ticker	Name	Focus	Match	1Y	3Y	5Y	10Y
XBI	SPDR S&P Biotech ETF	Biotechnology (Equal Wt)	INDUSTRY	0.46	0.51	0.55	0.57
XPH	SPDR S&P Pharmaceuticals	Pharmaceuticals (Equal Wt)	INDUSTRY	0.45	0.46	0.47	0.50
IBB	iShares Biotechnology ETF	Biotechnology	INDUSTRY	0.43	0.46	0.50	0.55
ARKG	ARK Genomic Revolution ETF	Genomics (Active)	INDUSTRY	0.37	0.43	0.47	0.50
IHE	iShares US Pharmaceuticals ETF	Pharmaceuticals	INDUSTRY	0.35	0.33	0.35	0.44
FHLC	Fidelity MSCI Health Care ETF	Health Care Sector	SECTOR	0.31	0.34	0.38	0.46
VHT	Vanguard Health Care ETF	Health Care Sector	SECTOR	0.31	0.34	0.38	0.46
IYH	iShares US Healthcare ETF	Health Care Sector	SECTOR	0.28	0.30	0.34	0.43
XLV	Health Care Select Sector SPDR	Health Care Sector	SECTOR	0.26	0.29	0.32	0.40
PPH	VanEck Pharma ETF	Pharmaceuticals	INDUSTRY	0.24	0.25	0.30	0.39
IHI	iShares Medical Devices ETF	Medical Devices	SUB-IND	0.21	0.27	0.33	0.40
IHF	iShares Health Care Providers	Health Care Providers	INDUSTRY	0.15	0.20	0.26	0.34

NEXT STEPS

Harvesting a loss in LGND?

Estimate what the harvest could save →Check the eight wash-sale traps →Document the trade with a Tax Memo →

Replacement research for LGND's peers

CYTK VIR VCEL RGEN XNCR KRYS NBIX ARWR INCY EXEL ROIV HRMY PTGX RCUS VRTX REGN SRPT AMGN BIIB BMRN HALO ADMA FTRE TGTX UTHR MRNA ALNY GILD

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Method: Pearson correlation of daily closing-price returns, Yahoo Finance data, series aligned by trading day, refreshed weekly. A cell is blank when overlapping history covers less than 60% of its window. Correlation is descriptive, not predictive. Wash-sale treatment depends on facts and circumstances — confirm with a tax professional. Not investment advice.