Decheng Capital LLC reduced its position in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 34.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,000 shares of the company's stock after selling 53,558 shares during the period. Legend Biotech makes up 1.0% of Decheng Capital LLC's portfolio, making the stock its 16th biggest holding. Decheng Capital LLC owned about 0.05% of Legend Biotech worth $3,393,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in LEGN. GF Fund Management CO. LTD. lifted its holdings in shares of Legend Biotech by 22.0% during the 1st quarter. GF Fund Management CO. LTD. now owns 2,092 shares of the company's stock worth $71,000 after acquiring an additional 377 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Legend Biotech by 1.4% during the 1st quarter. Rhumbline Advisers now owns 28,029 shares of the company's stock worth $951,000 after acquiring an additional 391 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Legend Biotech by 145.4% during the 1st quarter. GAMMA Investing LLC now owns 1,291 shares of the company's stock worth $44,000 after acquiring an additional 765 shares during the last quarter. Shell Asset Management Co. lifted its holdings in shares of Legend Biotech by 62.0% during the 4th quarter. Shell Asset Management Co. now owns 2,090 shares of the company's stock worth $68,000 after acquiring an additional 800 shares during the last quarter. Finally, Diversified Trust Co lifted its holdings in shares of Legend Biotech by 1.9% during the 1st quarter. Diversified Trust Co now owns 46,151 shares of the company's stock worth $1,566,000 after acquiring an additional 863 shares during the last quarter. 70.89% of the stock is currently owned by hedge funds and other institutional investors.
Legend Biotech Trading Down 0.7%
Shares of NASDAQ:LEGN traded down $0.27 during midday trading on Friday, hitting $38.80. 1,094,425 shares of the stock traded hands, compared to its average volume of 1,510,899. The stock has a market capitalization of $7.13 billion, a PE ratio of -65.76 and a beta of 0.19. The business's 50 day moving average is $36.14 and its two-hundred day moving average is $34.95. The company has a quick ratio of 5.07, a current ratio of 5.20 and a debt-to-equity ratio of 0.30. Legend Biotech Corporation Sponsored ADR has a one year low of $27.34 and a one year high of $59.62.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.33. The firm had revenue of $195.05 million during the quarter, compared to the consensus estimate of $190.83 million. Legend Biotech had a negative net margin of 29.95% and a negative return on equity of 21.19%. The company's quarterly revenue was up 107.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.16) earnings per share. As a group, research analysts forecast that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current year.
Analyst Upgrades and Downgrades
LEGN has been the subject of several recent research reports. HC Wainwright reissued a "buy" rating and issued a $75.00 price target on shares of Legend Biotech in a research note on Thursday, July 17th. Royal Bank Of Canada reissued an "outperform" rating and issued a $84.00 price target on shares of Legend Biotech in a research note on Tuesday, April 22nd. 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 research note on Wednesday, May 14th. Johnson Rice reissued a "buy" rating on shares of Legend Biotech in a research note on Thursday, July 17th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $81.00 price target (up from $80.00) on shares of Legend Biotech in a research note on Thursday, July 10th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $73.33.
Check Out Our Latest Research Report on LEGN
Legend Biotech Company Profile
(
Free Report)
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).
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