SCHEDULE 13G/A: Morgan Stanley Reduces Stake in Pharming Group N.V. Below 5% Threshold

Morgan Stanley has filed an amended Schedule 13G, indicating its beneficial ownership in Pharming Group N.V. has decreased to 1.2% as of March 31, 2025, falling below the 5% reporting threshold.

Summary

• Morgan Stanley has filed an Amendment No. 1 to its Schedule 13G for Pharming Group N.V.
• As of March 31, 2025, Morgan Stanley's aggregate beneficial ownership in Pharming Group N.V. is 8,471,801 Ordinary Shares / American Depositary Shares.
• This amount represents 1.2% of the class of securities.
• Morgan Stanley now holds 0.00% sole voting power and 8,446,801 shares (1.2%) shared voting power.
• Morgan Stanley holds 0.00% sole dispositive power and 8,471,801 shares (1.2%) shared dispositive power.
• Morgan Stanley has ceased to be the beneficial owner of more than five percent of the class of securities.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of a change in beneficial ownership, indicating a reduction in Morgan Stanley's stake below the 5% threshold. It does not contain information that is inherently positive or negative for the company's operational performance, thus a neutral sentiment score is appropriate.

Future Outlook

The document does not contain any forward-looking statements or guidance regarding Pharming Group N.V.'s future performance or Morgan Stanley's future investment intentions beyond the current ownership disclosure.

Management Comments

• "As of the date hereof, Morgan Stanley has ceased to be the beneficial owner of more than five percent of the class of securities."
• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing reflects a change in institutional ownership for Pharming Group N.V., a common occurrence in the financial markets. It does not provide broader industry trends or competitive analysis, focusing solely on Morgan Stanley's reduced stake.

Stakeholder Impact

• Shareholders: The reduction in a significant institutional investor's stake could be interpreted differently by various shareholders, potentially influencing market sentiment and share price.

Key Dates

Keywords

Morgan Stanley, Pharming Group N.V., Schedule 13G, Beneficial Ownership, Stake Reduction, Institutional Ownership, SEC Filing, Ordinary Shares, American Depositary Shares