Greenwoods Asset Management Hong Kong Ltd. increased its stake in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 36.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,109 shares of the company's stock after buying an additional 24,000 shares during the quarter. Legend Biotech accounts for about 0.1% of Greenwoods Asset Management Hong Kong Ltd.'s investment portfolio, making the stock its 26th largest position. Greenwoods Asset Management Hong Kong Ltd.'s holdings in Legend Biotech were worth $3,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC lifted its position 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 buying an additional 765 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Legend Biotech during the 4th quarter worth approximately $56,000. Brooklyn Investment Group lifted its position in shares of Legend Biotech by 1,114.8% during the 1st quarter. Brooklyn Investment Group now owns 1,725 shares of the company's stock worth $59,000 after buying an additional 1,583 shares during the period. Shell Asset Management Co. lifted its position 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 buying an additional 800 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in shares of Legend Biotech by 355.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,480 shares of the company's stock worth $146,000 after buying an additional 3,496 shares during the period. Institutional investors own 70.89% of the company's stock.
Wall Street Analysts Forecast Growth
LEGN has been the subject of several analyst reports. HC Wainwright restated a "buy" rating and set a $75.00 target price on shares of Legend Biotech in a research report on Thursday, July 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 report on Wednesday, May 14th. Cantor Fitzgerald raised Legend Biotech to a "strong-buy" rating in a report on Monday, August 4th. 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. Finally, Johnson Rice reaffirmed a "buy" rating on shares of Legend Biotech in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $72.38.
View Our Latest Research Report on LEGN
Legend Biotech Trading Up 0.1%
Shares of NASDAQ LEGN traded up $0.03 during midday trading on Friday, hitting $35.56. The stock had a trading volume of 693,867 shares, compared to its average volume of 1,064,518. The company's 50-day simple moving average is $37.80 and its 200 day simple moving average is $35.12. The firm has a market cap of $6.53 billion, a P/E ratio of -40.41 and a beta of 0.26. Legend Biotech Corporation Sponsored ADR has a fifty-two week low of $27.34 and a fifty-two week high of $59.62. 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 released its earnings results on Monday, August 11th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.12). The firm 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 firm's quarterly revenue was up 36.8% on a year-over-year basis. During the same period last year, the business posted ($0.05) earnings per share. Research analysts anticipate that Legend Biotech Corporation Sponsored ADR will post -1.31 EPS for the current year.
Legend Biotech 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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