Jump Financial LLC Trims Holdings in Legend Biotech Corporation Sponsored ADR $LEGN

Key Points

• Jump Financial LLC significantly reduced its holdings in Legend Biotech Corporation by 68.1%, selling 102,241 shares and leaving it with 47,941 shares valued at approximately $1.63 million.
• Several institutional investors have increased their stakes in Legend Biotech, with GAMMA Investing LLC boosting its holdings by 145.4% during the first quarter.
• Analysts maintain a positive outlook on Legend Biotech, with ten firms issuing a Buy rating and an average price target of $74.22, indicating growth potential.

Jump Financial LLC lessened its holdings in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 68.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,941 shares of the company's stock after selling 102,241 shares during the quarter. Jump Financial LLC's holdings in Legend Biotech were worth $1,627,000 at the end of the most recent quarter.

A number of other large investors 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 period. Rhumbline Advisers raised its stake in Legend Biotech by 1.4% during the first quarter. Rhumbline Advisers now owns 28,029 shares of the company's stock worth $951,000 after purchasing an additional 391 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Legend Biotech by 1.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 55,610 shares of the company's stock worth $1,887,000 after purchasing an additional 579 shares during the period. GAMMA Investing LLC grew its stake 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 valued at $44,000 after buying an additional 765 shares during the period. Finally, Shell Asset Management Co. grew its stake 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 valued at $68,000 after buying an additional 800 shares during the period. Hedge funds and other institutional investors own 70.89% of the company's stock.

Legend Biotech Stock Up 1.0%

Shares of LEGN stock traded up $0.36 on Monday, hitting $34.73. The stock had a trading volume of 881,286 shares, compared to its average volume of 993,702. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of -39.47 and a beta of 0.28. The stock's 50 day moving average is $37.79 and its 200-day moving average is $35.09. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.57 and a current ratio of 4.71. Legend Biotech Corporation Sponsored ADR has a 52-week low of $27.34 and a 52-week high of $59.62.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.12). The firm had revenue of $255.06 million for the quarter, compared to analysts' expectations of $237.49 million. Legend Biotech had a negative return on equity of 32.00% and a negative net margin of 40.83%.The business's quarterly revenue was up 36.8% on a year-over-year basis. During the same period last year, the firm earned ($0.05) EPS. As a group, research analysts expect that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Morgan Stanley increased their target price on Legend Biotech from $81.00 to $83.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 12th. Cantor Fitzgerald restated an "overweight" rating and issued a $66.00 price objective on shares of Legend Biotech in a report on Wednesday, August 27th. JPMorgan Chase & Co. boosted their target price on Legend Biotech from $77.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. UBS Group set a $54.00 price target on shares of Legend Biotech and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, Truist Financial decreased their price objective 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. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Legend Biotech currently has a consensus rating of "Moderate Buy" and a consensus price target 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).