KBC Group NV lifted its stake in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 105.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,048 shares of the company's stock after purchasing an additional 13,904 shares during the quarter. KBC Group NV's holdings in Legend Biotech were worth $918,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the stock. Lansforsakringar Fondforvaltning AB publ bought a new position in Legend Biotech in the 4th quarter valued at approximately $914,000. JPMorgan Chase & Co. lifted its position in Legend Biotech by 176.0% in the 4th quarter. JPMorgan Chase & Co. now owns 998,016 shares of the company's stock valued at $32,475,000 after acquiring an additional 636,390 shares in the last quarter. First Trust Advisors LP raised its stake in Legend Biotech by 76.3% during the 4th quarter. First Trust Advisors LP now owns 20,669 shares of the company's stock valued at $673,000 after buying an additional 8,948 shares during the last quarter. Sei Investments Co. raised its stake in Legend Biotech by 29.1% during the 4th quarter. Sei Investments Co. now owns 66,855 shares of the company's stock valued at $2,175,000 after buying an additional 15,058 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Legend Biotech by 5.9% during the 4th quarter. Rhumbline Advisers now owns 27,638 shares of the company's stock valued at $899,000 after buying an additional 1,544 shares during the last quarter. 70.89% of the stock is owned by institutional investors.
Legend Biotech Stock Up 4.5%
NASDAQ LEGN traded up $1.62 on Tuesday, hitting $37.49. The stock had a trading volume of 1,891,532 shares, compared to its average volume of 1,377,066. The business's fifty day moving average price is $32.64 and its 200 day moving average price is $34.03. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.20 and a quick ratio of 5.07. Legend Biotech Corporation Sponsored ADR has a 52-week low of $27.34 and a 52-week high of $60.87. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of -63.54 and a beta of 0.19.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.33. The firm had revenue of $195.05 million for the quarter, compared to analyst estimates of $190.83 million. Legend Biotech had a negative net margin of 29.95% and a negative return on equity of 21.19%. The business's quarterly revenue was up 107.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.16) earnings per share. Equities research analysts anticipate that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current year.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the stock. Truist Financial decreased their target price 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. Cantor Fitzgerald reiterated an "overweight" rating and set a $55.00 target price on shares of Legend Biotech in a research note on Wednesday, May 14th. 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. Morgan Stanley reduced their price objective on Legend Biotech from $82.00 to $80.00 and set an "overweight" rating for the company in a research note on Monday, March 17th. Finally, HC Wainwright restated a "buy" rating and issued a $75.00 price objective on shares of Legend Biotech in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $72.60.
Check Out Our Latest Report on Legend Biotech
About Legend Biotech
(
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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