Legend Biotech Corporation Sponsored ADR $LEGN Shares Bought by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC boosted its stake in Legend Biotech by 6,774.9% in Q4, buying 366,321 shares to hold 371,728 shares (about 0.20% of the company) worth roughly $8.08 million.
• Analyst sentiment is a “Moderate Buy” overall with 11 Buys, 3 Holds and 1 Sell and a consensus target of $58.31, though several firms recently cut their price targets.
• In the most recent quarter Legend Biotech reported EPS $0.01, beating estimates, with revenue of $306.3M (up 64.2% YoY) but the company remains unprofitable with a negative net margin and ROE.

SG Americas Securities LLC grew its position in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 6,774.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 371,728 shares of the company's stock after buying an additional 366,321 shares during the period. SG Americas Securities LLC owned 0.20% of Legend Biotech worth $8,081,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LEGN. Suvretta Capital Management LLC lifted its holdings in Legend Biotech by 1.2% in the third quarter. Suvretta Capital Management LLC now owns 3,818,009 shares of the company's stock valued at $124,505,000 after acquiring an additional 44,000 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in Legend Biotech by 20.1% during the third quarter. Artisan Partners Limited Partnership now owns 2,547,952 shares of the company's stock worth $83,089,000 after acquiring an additional 425,684 shares during the last quarter. Alliancebernstein L.P. raised its position in Legend Biotech by 4.6% in the third quarter. Alliancebernstein L.P. now owns 1,632,967 shares of the company's stock valued at $53,251,000 after purchasing an additional 72,371 shares during the period. Millennium Management LLC raised its position in Legend Biotech by 5.0% in the third quarter. Millennium Management LLC now owns 792,485 shares of the company's stock valued at $25,843,000 after purchasing an additional 37,638 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in shares of Legend Biotech by 10.9% in the 2nd quarter. Hsbc Holdings PLC now owns 476,247 shares of the company's stock valued at $16,902,000 after purchasing an additional 46,658 shares during the last quarter. Hedge funds and other institutional investors own 70.89% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Raymond James Financial reissued an "outperform" rating on shares of Legend Biotech in a research report on Monday, February 23rd. Rothschild & Co Redburn lowered shares of Legend Biotech from a "buy" rating to a "neutral" rating and set a $24.00 target price for the company. in a research note on Thursday, February 12th. UBS Group reduced their price target on shares of Legend Biotech from $54.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, December 8th. TD Cowen reaffirmed a "hold" rating and set a $21.00 price objective (down from $62.00) on shares of Legend Biotech in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada dropped their target price on shares of Legend Biotech from $66.00 to $62.00 and set an "outperform" rating for the company in a report on Wednesday, March 11th. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $58.31.

Insider Transactions at Legend Biotech

In other Legend Biotech news, CEO Ying Huang sold 9,936 shares of the firm's stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $8.77, for a total value of $87,138.72. Following the completion of the transaction, the chief executive officer owned 247,438 shares of the company's stock, valued at $2,170,031.26. This trade represents a 3.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.02% of the stock is currently owned by company insiders.

Legend Biotech Price Performance

NASDAQ LEGN opened at $17.31 on Tuesday. The company has a market cap of $3.20 billion, a P/E ratio of -21.64 and a beta of 0.07. The stock has a 50-day moving average of $18.33 and a two-hundred day moving average of $24.83. Legend Biotech Corporation Sponsored ADR has a 1-year low of $16.24 and a 1-year high of $45.30.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last posted its quarterly earnings data on Wednesday, March 11th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.18. The business had revenue of $306.30 million during the quarter, compared to analyst estimates of $310.21 million. Legend Biotech had a negative net margin of 28.86% and a negative return on equity of 21.93%. The business's revenue for the quarter was up 64.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 earnings per share. On average, analysts anticipate that Legend Biotech Corporation Sponsored ADR will post -1.31 EPS for the current fiscal year.

Legend Biotech Profile

Legend Biotech NASDAQ: LEGN is a commercial-stage biopharmaceutical company specializing in the development and commercialization of chimeric antigen receptor T-cell (CAR-T) therapies for oncology. Headquartered in Somerset, New Jersey, with research and development operations in Shanghai, the company leverages a global infrastructure to advance innovative cellular therapies. Legend Biotech pursues a strategy of strategic collaboration to extend its reach, most notably through its partnership with Janssen Biotech, a subsidiary of Johnson & Johnson.

The company's lead asset, ciltacabtagene autoleucel (commercially marketed as Carvykti), is a B-cell maturation antigen (BCMA)–directed CAR-T therapy for the treatment of relapsed or refractory multiple myeloma.

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