Nuveen LLC Purchases Shares of 170,186 Legend Biotech Corporation Sponsored ADR $LEGN

Key Points

• Nuveen LLC acquired 170,186 shares of Legend Biotech, valued at approximately $5.77 million, representing about 0.09% ownership of the company.
• Analyst ratings for Legend Biotech include a consensus of "Buy" with an average target price of $73.00, while various firms set their price targets between $71.00 and $83.00.
• Legend Biotech reported a quarterly revenue increase of 36.8% year-over-year, despite missing EPS estimates, posting ($0.34) per share against a consensus of ($0.22).

Nuveen LLC acquired a new stake in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 170,186 shares of the company's stock, valued at approximately $5,774,000. Nuveen LLC owned approximately 0.09% of Legend Biotech at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in Legend Biotech by 145.4% during the first quarter. GAMMA Investing LLC now owns 1,291 shares of the company's stock valued at $44,000 after purchasing an additional 765 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Legend Biotech during the fourth quarter valued at approximately $56,000. Shell Asset Management Co. raised its position in Legend Biotech by 62.0% during the fourth quarter. Shell Asset Management Co. now owns 2,090 shares of the company's stock valued at $68,000 after purchasing an additional 800 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Legend Biotech by 355.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,480 shares of the company's stock valued at $146,000 after purchasing an additional 3,496 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Legend Biotech by 193.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,916 shares of the company's stock valued at $167,000 after purchasing an additional 3,238 shares in the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LEGN has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Legend Biotech from $81.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, August 12th. HC Wainwright reiterated a "buy" rating and set a $75.00 price target on shares of Legend Biotech in a report on Thursday, July 17th. UBS Group set a $54.00 price target on shares of Legend Biotech and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Cantor Fitzgerald reiterated an "overweight" rating and set a $66.00 price target on shares of Legend Biotech in a report on Wednesday. Finally, Truist Financial lowered their price target on shares of Legend Biotech from $88.00 to $71.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.22.

Legend Biotech Trading Up 1.0%

NASDAQ LEGN traded up $0.36 on Friday, reaching $34.73. The company had a trading volume of 881,286 shares, compared to its average volume of 993,702. The firm has a market cap of $6.41 billion, a price-to-earnings ratio of -39.47 and a beta of 0.28. Legend Biotech Corporation Sponsored ADR has a fifty-two week low of $27.34 and a fifty-two week high of $59.62. The business has a 50 day moving average of $37.79 and a two-hundred day moving average of $35.09. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.71 and a quick ratio of 4.57.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.34) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.12). The company had revenue of $255.06 million during the quarter, compared to analyst estimates of $237.49 million. Legend Biotech had a negative net margin of 40.83% and a negative return on equity of 32.00%. The business's revenue for the quarter was up 36.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) earnings per share. Analysts forecast that Legend Biotech Corporation Sponsored ADR will post -1.31 EPS for the current year.

Legend Biotech Company Profile

Legend Biotech Corporation, a clinical-stage biopharmaceutical company, through its subsidiaries, engages in the discovery, development, manufacturing, and commercialization of novel cell therapies for oncology and other indications in the United States, China, and internationally. Its lead product candidate, LCAR- B38M, is a chimeric antigen receptor for the treatment of multiple myeloma (MM).