E Fund Management Hong Kong Co. Ltd. Decreases Stake in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN)

E Fund Management Hong Kong Co. Ltd. decreased its holdings in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 30.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 29,928 shares of the company's stock after selling 13,152 shares during the period. Legend Biotech accounts for about 0.9% of E Fund Management Hong Kong Co. Ltd.'s portfolio, making the stock its 15th largest position. E Fund Management Hong Kong Co. Ltd.'s holdings in Legend Biotech were worth $1,015,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. New York State Common Retirement Fund lifted its position in Legend Biotech by 196.1% during the fourth quarter. New York State Common Retirement Fund now owns 59,276 shares of the company's stock valued at $1,929,000 after acquiring an additional 39,256 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Legend Biotech in the fourth quarter worth $914,000. JPMorgan Chase & Co. raised its stake in shares of Legend Biotech by 176.0% during the 4th quarter. JPMorgan Chase & Co. now owns 998,016 shares of the company's stock valued at $32,475,000 after buying an additional 636,390 shares during the last quarter. First Trust Advisors LP lifted its holdings in Legend Biotech by 76.3% in the fourth quarter. First Trust Advisors LP now owns 20,669 shares of the company's stock valued at $673,000 after acquiring an additional 8,948 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Legend Biotech by 29.1% in the 4th quarter. Sei Investments Co. now owns 66,855 shares of the company's stock valued at $2,175,000 after purchasing an additional 15,058 shares during the period. Institutional investors own 70.89% of the company's stock.

Analyst Upgrades and Downgrades

LEGN has been the topic of a number of research analyst reports. Morgan Stanley dropped their price target on shares of Legend Biotech from $82.00 to $80.00 and set an "overweight" rating on the stock in a research note on Monday, March 17th. Truist Financial dropped their price target on Legend Biotech from $88.00 to $71.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. HC Wainwright reissued a "buy" rating and set a $75.00 price objective on shares of Legend Biotech in a research note on Wednesday, April 16th. 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, Guggenheim restated a "neutral" rating on shares of Legend Biotech in a report on Wednesday, March 12th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.20.

Legend Biotech Trading Up 3.4%

Shares of LEGN traded up $1.15 during trading on Friday, reaching $34.63. 1,811,932 shares of the company traded hands, compared to its average volume of 1,360,892. The stock has a 50-day simple moving average of $32.34 and a 200-day simple moving average of $33.99. The stock has a market cap of $6.36 billion, a PE ratio of -58.69 and a beta of 0.13. Legend Biotech Corporation Sponsored ADR has a twelve month low of $27.34 and a twelve month high of $60.87. 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 (NASDAQ:LEGN - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.33. The company had revenue of $195.05 million during the quarter, compared to analysts' expectations of $190.83 million. Legend Biotech had a negative return on equity of 21.19% and a negative net margin of 29.95%. Legend Biotech's revenue for the quarter was up 107.8% on a year-over-year basis. During the same period last year, the business posted ($0.16) EPS. On average, analysts anticipate 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).