Decheng Capital LLC Cuts Position in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN)

Decheng Capital LLC trimmed its stake in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 34.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,000 shares of the company's stock after selling 53,558 shares during the quarter. Legend Biotech makes up 1.0% of Decheng Capital LLC's holdings, making the stock its 16th biggest holding. Decheng Capital LLC owned about 0.05% of Legend Biotech worth $3,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. GF Fund Management CO. LTD. grew its position in Legend Biotech by 22.0% in the 1st quarter. GF Fund Management CO. LTD. now owns 2,092 shares of the company's stock worth $71,000 after purchasing an additional 377 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Legend Biotech by 1.4% in the first quarter. Rhumbline Advisers now owns 28,029 shares of the company's stock worth $951,000 after buying an additional 391 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 in the last quarter. Shell Asset Management Co. increased its position in shares of Legend Biotech by 62.0% in the fourth quarter. Shell Asset Management Co. now owns 2,090 shares of the company's stock worth $68,000 after purchasing an additional 800 shares during the last quarter. Finally, Diversified Trust Co increased its position in shares of Legend Biotech by 1.9% in the first quarter. Diversified Trust Co now owns 46,151 shares of the company's stock worth $1,566,000 after purchasing an additional 863 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LEGN has been the subject of a number of recent research reports. Morgan Stanley restated an "overweight" rating and issued a $81.00 target price (up previously from $80.00) on shares of Legend Biotech in a research report on Thursday, July 10th. HC Wainwright reaffirmed a "buy" rating and set a $75.00 price target on shares of Legend Biotech in a research report on Thursday, July 17th. Truist Financial cut their price objective on Legend Biotech from $88.00 to $71.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $55.00 target price on shares of Legend Biotech in a research note on Wednesday, May 14th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $84.00 target price on shares of Legend Biotech in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $73.33.

Legend Biotech Trading Down 0.7%

Shares of LEGN stock traded down $0.27 during trading hours on Friday, hitting $38.80. The company had a trading volume of 1,094,425 shares, compared to its average volume of 1,373,207. The company's fifty day moving average is $36.34 and its 200 day moving average is $35.00. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.20 and a quick ratio of 5.07. Legend Biotech Corporation Sponsored ADR has a fifty-two week low of $27.34 and a fifty-two week high of $59.62. The stock has a market capitalization of $7.13 billion, a PE ratio of -65.76 and a beta of 0.26.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 21.19% and a negative net margin of 29.95%. The firm's quarterly revenue was up 107.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.16) earnings per share. Research analysts expect that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current fiscal 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).