Aberdeen Group plc Has $502,000 Holdings in Legend Biotech Corporation Sponsored ADR $LEGN

Key Points

• Aberdeen Group plc has reduced its stake in Legend Biotech by 53.1%, now holding shares worth approximately $502,000 after selling a significant number of shares in the first quarter.
• Several institutional investors have made notable changes to their holdings in Legend Biotech, with GAMMA Investing LLC increasing its ownership by 145.4% in the first quarter alone.
• Analysts have mixed opinions on Legend Biotech, with a consensus rating of "Buy" and an estimated price target of $72.38, despite the company recently reporting a loss in earnings.

Aberdeen Group plc cut its stake in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 53.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,786 shares of the company's stock after selling 16,732 shares during the period. Aberdeen Group plc's holdings in Legend Biotech were worth $502,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Legend Biotech by 145.4% in the first quarter. GAMMA Investing LLC now owns 1,291 shares of the company's stock worth $44,000 after buying an additional 765 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Legend Biotech during the fourth quarter valued at $56,000. Shell Asset Management Co. increased its holdings in shares of 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 during the period. Tower Research Capital LLC TRC increased its holdings in shares of 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 during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of 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 during the period. 70.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on LEGN shares. UBS Group set a $54.00 price target on Legend Biotech and gave the company a "buy" rating in a report on Wednesday, July 2nd. Cantor Fitzgerald reissued an "overweight" rating and set a $66.00 price target on shares of Legend Biotech in a report on Wednesday. Johnson Rice reissued a "buy" rating on shares of Legend Biotech in a report on Thursday, July 17th. HC Wainwright reissued a "buy" rating and set a $75.00 price target on shares of Legend Biotech in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. raised their price target on Legend Biotech from $77.00 to $78.00 and gave the company an "overweight" rating in a report on Monday. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $74.22.

Legend Biotech Trading Down 1.1%

Shares of NASDAQ:LEGN traded down $0.38 during midday trading on Wednesday, reaching $34.70. The company had a trading volume of 577,667 shares, compared to its average volume of 1,454,641. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.57 and a current ratio of 4.71. Legend Biotech Corporation Sponsored ADR has a 1-year low of $27.34 and a 1-year high of $59.62. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of -39.50 and a beta of 0.26. The company has a fifty day simple moving average of $37.79 and a two-hundred day simple moving average of $35.12.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its quarterly earnings results 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). Legend Biotech had a negative net margin of 40.83% and a negative return on equity of 32.00%. The company had revenue of $255.06 million during the quarter, compared to analyst estimates of $237.49 million. During the same quarter last year, the business earned ($0.05) EPS. The company's revenue for the quarter was up 36.8% compared to the same quarter last year. Research analysts predict that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current year.

Legend Biotech 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).