SCHEDULE: Millennium Management Discloses 2.8% Stake in Vanda Pharma

Millennium Management LLC and affiliates reported a 2.8% beneficial ownership stake in Vanda Pharmaceuticals Inc. as of December 31, 2025.

Summary

• Millennium Management LLC, Millennium Group Management LLC, and Israel A. Englander collectively beneficially own 1,679,013 shares of Vanda Pharmaceuticals Inc. common stock.
• This ownership represents 2.8% of the total class of securities.
• The reporting persons hold shared voting power and shared dispositive power over all 1,679,013 shares.
• The filing is an Amendment No. 1 to a Schedule 13G, indicating an update to a previously reported beneficial ownership position.
• The reporting persons certified that the securities were not acquired for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 6

Explanation: The filing indicates a notable institutional stake from a prominent fund, which is generally a positive signal of investor interest, though the percentage is not indicative of control or activist intent. It represents a neutral-to-slightly positive disclosure of ownership.

Positives

• Millennium Management, a significant institutional investor, holds a stake in Vanda Pharmaceuticals, potentially signaling confidence in the company's prospects.
• The shared voting and dispositive power indicates a coordinated investment strategy among the Millennium entities.

Negatives

• The 2.8% stake is below the 5% threshold typically associated with significant influence or activist positions, suggesting a passive investment rather than an intent to control.

Future Outlook

NA

Management Comments

• I certify that, to the best of my knowledge and belief, the securities referred to above 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 indicates continued or new institutional interest in Vanda Pharmaceuticals, a company operating in the biotechnology/pharmaceutical sector. Such disclosures are common for publicly traded companies and can sometimes precede further investment or divestment trends within the industry, reflecting broader market sentiment towards the sector or specific companies.

Stakeholder Impact

• Shareholders: May view the institutional ownership by Millennium Management as a positive indicator of investor confidence, potentially influencing market perception and trading activity.

Key Dates

Keywords

Vanda Pharmaceuticals, Millennium Management, Institutional Ownership, Schedule 13G, Common Stock, Biotechnology, Pharmaceuticals, Investment Filing, Equity Stake