Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) Holdings Raised by Krane Funds Advisors LLC

Krane Funds Advisors LLC boosted its holdings in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 129.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 39,080 shares of the company's stock after buying an additional 22,036 shares during the period. Legend Biotech makes up about 0.0% of Krane Funds Advisors LLC's investment portfolio, making the stock its 27th largest position. Krane Funds Advisors LLC's holdings in Legend Biotech were worth $1,326,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Suvretta Capital Management LLC purchased a new stake in shares of Legend Biotech during the fourth quarter valued at approximately $113,767,000. Invesco Ltd. raised its stake in shares of Legend Biotech by 44.7% during the fourth quarter. Invesco Ltd. now owns 3,309,971 shares of the company's stock valued at $107,706,000 after purchasing an additional 1,022,365 shares during the period. Braidwell LP raised its stake in shares of Legend Biotech by 93.2% during the fourth quarter. Braidwell LP now owns 2,977,951 shares of the company's stock valued at $96,903,000 after purchasing an additional 1,436,400 shares during the period. Wellington Management Group LLP raised its stake in shares of Legend Biotech by 4.1% during the fourth quarter. Wellington Management Group LLP now owns 2,120,775 shares of the company's stock valued at $69,010,000 after purchasing an additional 84,405 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new stake in shares of Legend Biotech during the fourth quarter valued at approximately $50,493,000. Hedge funds and other institutional investors own 70.89% of the company's stock.

Analyst Upgrades and Downgrades

LEGN has been the topic of a number of analyst reports. Morgan Stanley dropped their price objective 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. Royal Bank Of Canada restated an "outperform" rating and issued a $84.00 price target on shares of Legend Biotech in a research note on Tuesday, April 22nd. Guggenheim reiterated a "neutral" rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Cantor Fitzgerald reiterated an "overweight" rating and set a $55.00 price objective on shares of Legend Biotech in a research note on Wednesday, May 14th. Finally, HC Wainwright reiterated a "buy" rating and set a $75.00 price objective on shares of Legend Biotech in a research note on Wednesday, April 16th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $72.60.

Legend Biotech Stock Performance

Legend Biotech stock traded down $0.56 during mid-day trading on Friday, reaching $35.35. The company's stock had a trading volume of 604,100 shares, compared to its average volume of 1,367,472. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of -59.91 and a beta of 0.19. The business has a 50 day moving average price of $32.56 and a 200-day moving average price of $34.00. The company has a current ratio of 5.20, a quick ratio of 5.07 and a debt-to-equity ratio of 0.30. Legend Biotech Corporation Sponsored ADR has a twelve month low of $27.34 and a twelve month high of $60.87.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, topping 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 net margin of 29.95% and a negative return on equity of 21.19%. The firm's revenue was up 107.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.16) earnings per share. Sell-side analysts predict that Legend Biotech Corporation Sponsored ADR will post -1.31 EPS 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).