Farallon-Affiliated Group Sells Millions of Lantheus (LNTH) Shares
Rhea-AI Filing Summary
Insiders from Farallon-affiliated funds reported large open-market dispositions of Lantheus Holdings (LNTH) stock on August 19-20, 2025. The filing shows a sale of 41,000 shares on 08/19/2025 at $55.34 and a weighted-average sale of 3,365,000 shares on 08/20/2025 at $56.15. The reported beneficial ownership for the group fell from 6,842,227 shares after the first sale to 3,477,227 shares after the second sale. Footnotes identify the sellers as Farallon Funds and multiple managing members who disclaim beneficial ownership except for any pecuniary interest. The Form 4s were signed by an attorney-in-fact on 08/21/2025.
Positive
- None.
Negative
- Large open-market dispositions: 3,365,000 shares sold on 08/20/2025 (weighted-average $56.15) and 41,000 shares sold on 08/19/2025 ($55.34).
- Significant reduction in reported stake: Beneficial ownership decreased from 6,842,227 shares to 3,477,227 shares after reported transactions.
- Grouped selling by Farallon-affiliated parties: Footnotes indicate coordinated reporting persons and parallel Form 4s, which may signal a material change in holdings by the group.
Insights
TL;DR: Large, concentrated sales by Farallon-affiliated reporting persons materially reduce their reported stake in LNTH.
The transactions disclose a substantial reduction in reported beneficial ownership: a 41,000-share sale followed by a 3,365,000-share sale using a weighted-average price of $56.15. Proceeds from the 08/20/2025 sale approximate $189 million, with the prior 08/19/2025 sale adding roughly $2.3 million. Such large open-market dispositions by an activist/hedge-fund-affiliated group are material for investors because they significantly lower the group's reported stake and may affect market supply and perceived insider sentiment. Filings reference additional parallel Form 4s and disclaimers regarding beneficial ownership through Farallon structures.
TL;DR: Multiple managing members and general partner entities are disclosed, with standard disclaimers and parallel filings noted.
The Form 4 details that the shares are held directly by Farallon-affiliated funds and that Farallon General Partners and individual Managing Members may be deemed to have investment discretion. The footnotes emphasize disclaimers of beneficial ownership except for pecuniary interest and indicate parallel Form 4s filed for additional reporting persons. From a governance perspective, the disclosure is thorough but highlights a coordinated group reduction of holdings that stakeholders may interpret as a change in insider alignment.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 3,365,000 | $56.15 | $188.94M |
| Sale | Common Stock | 41,000 | $55.34 | $2.27M |
Footnotes (1)
- The entities and individuals identified in the footnotes of this Form 4 may be deemed members of a group holding equity securities of Lantheus Holdings, Inc. (the "Issuer"). The filing of this Form 4 and any statements included herein shall not be deemed to be an admission that such entities and individuals are members of such a group. Since the number of reporting persons that may be listed on a Form 4 is limited, the entities and individuals listed in these footnotes that are not reporting persons on this Form 4 are filing an additional Form 4 on the date hereof as reporting persons with respect to the securities described herein (the "Parallel Form 4"). Information regarding these entities and individuals is included in this Form 4 for purposes of clarification and convenience only, and is duplicative of the information reported in the Parallel Form 4. The amount of securities shown in this row is held directly by certain investment funds affiliated with the reporting persons (the "Farallon Funds"). Farallon Partners, L.L.C. and certain affiliated entities (the "Farallon General Partners"), as general partner or sole member of the general partner, as the case may be, of each of the Farallon Funds, may be deemed to be a beneficial owner of the Issuer's securities held by the Farallon Funds. The Farallon General Partners disclaim any beneficial ownership of any of the Issuer's securities reported or noted herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "'34 Act"), or otherwise, except to the extent of their pecuniary interest, if any. Each of Joshua J. Dapice, Philip D. Dreyfuss, Hannah E. Dunn, Richard B. Fried, Varun N. Gehani, Nicolas Giauque, David T. Kim, Michael G. Linn, Patrick (Cheng) Luo, Rajiv A. Patel, Thomas G. Roberts, Jr., Edric C. Saito, William Seybold, Daniel S. Short, Andrew J. M. Spokes, John R. Warren, and Mark C. Wehrly (collectively, the "Managing Members"), as a managing member or manager, or senior managing member or senior manager, as the case may be, of each of the Farallon General Partners, in each case with the power to exercise investment discretion, may be deemed to be a beneficial owner of the Issuer's securities held by the Farallon Funds. Each of the Managing Members disclaims any beneficial ownership of any of the Issuer's securities reported or noted herein for purposes of Section 16 of the '34 Act or otherwise, except to the extent of his or her pecuniary interest, if any. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $56.14 to $56.55, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range.
