Harbor Capital Advisors Inc. Grows Stock Holdings in Legend Biotech Corporation Sponsored ADR $LEGN

Key Points

• Harbor Capital Advisors Inc. increased its stake in Legend Biotech by 26.6% during the 2nd quarter, bringing its total holdings to 50,056 shares valued at approximately $1.78 million.
• Legend Biotech stock has received positive ratings from several analysts, with a consensus rating of "Moderate Buy" and an average price target of $74.22.
• The company reported a $0.34 loss per share for its latest quarter, which was below analyst expectations, despite a 36.8% increase in revenue year-over-year.

Harbor Capital Advisors Inc. grew its stake in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 26.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,056 shares of the company's stock after buying an additional 10,519 shares during the period. Harbor Capital Advisors Inc.'s holdings in Legend Biotech were worth $1,776,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of LEGN. GAMMA Investing LLC grew its stake in Legend Biotech by 145.4% during the first quarter. GAMMA Investing LLC now owns 1,291 shares of the company's stock valued at $44,000 after acquiring an additional 765 shares in the last quarter. Quarry LP bought a new position in Legend Biotech in the 1st quarter valued at $48,000. GF Fund Management CO. LTD. purchased a new position in shares of Legend Biotech during the 4th quarter valued at $56,000. Brooklyn Investment Group increased its holdings in shares of Legend Biotech by 1,114.8% in the first quarter. Brooklyn Investment Group now owns 1,725 shares of the company's stock worth $59,000 after purchasing an additional 1,583 shares during the period. Finally, Allostery Investments LP purchased a new stake in shares of Legend Biotech in the first quarter worth $161,000. 70.89% of the stock is owned by hedge funds and other institutional investors.

Legend Biotech Trading Up 0.2%

NASDAQ LEGN traded up $0.07 during trading on Monday, hitting $34.08. 910,571 shares of the company's stock traded hands, compared to its average volume of 1,119,684. The stock has a fifty day moving average of $37.23 and a two-hundred day moving average of $34.88. Legend Biotech Corporation Sponsored ADR has a 12-month low of $27.34 and a 12-month high of $51.77. The firm has a market cap of $6.29 billion, a P/E ratio of -38.73 and a beta of 0.28. 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) 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 the consensus estimate of $237.49 million. During the same period last year, the firm posted ($0.05) EPS. The company's revenue was up 36.8% on a year-over-year basis. As a group, sell-side analysts expect that Legend Biotech Corporation Sponsored ADR will post -1.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LEGN shares. Royal Bank Of Canada restated an "outperform" rating and set a $77.00 target price (up from $75.00) on shares of Legend Biotech in a research report on Tuesday, August 12th. Johnson Rice restated a "buy" rating on shares of Legend Biotech in a research report on Thursday, July 17th. UBS Group set a $54.00 target price on shares of Legend Biotech and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Cantor Fitzgerald reissued an "overweight" rating and issued a $66.00 price target on shares of Legend Biotech in a research note on Wednesday, August 27th. Finally, Morgan Stanley increased their price target on shares of Legend Biotech from $81.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, August 12th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $74.22.

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).