Matthews International Capital Management LLC lessened its holdings in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,101,887 shares of the company's stock after selling 83,629 shares during the quarter. Legend Biotech makes up 7.7% of Matthews International Capital Management LLC's investment portfolio, making the stock its 4th largest holding. Matthews International Capital Management LLC owned 0.60% of Legend Biotech worth $37,387,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Asset Management One Co. Ltd. grew its stake in Legend Biotech by 26.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 11,085 shares of the company's stock valued at $360,000 after purchasing an additional 2,297 shares in the last quarter. Rhumbline Advisers increased its holdings in Legend Biotech by 5.9% in the fourth quarter. Rhumbline Advisers now owns 27,638 shares of the company's stock worth $899,000 after buying an additional 1,544 shares during the last quarter. New York State Common Retirement Fund raised its position in Legend Biotech by 196.1% during the fourth quarter. New York State Common Retirement Fund now owns 59,276 shares of the company's stock valued at $1,929,000 after acquiring an additional 39,256 shares in the last quarter. Alberta Investment Management Corp grew its position in Legend Biotech by 143.3% in the fourth quarter. Alberta Investment Management Corp now owns 135,259 shares of the company's stock worth $4,401,000 after acquiring an additional 79,663 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Legend Biotech by 12.5% during the fourth quarter. Bank of New York Mellon Corp now owns 131,416 shares of the company's stock valued at $4,276,000 after buying an additional 14,588 shares in the last quarter. Institutional investors and hedge funds own 70.89% of the company's stock.
Legend Biotech Price Performance
Shares of LEGN traded up $0.19 during mid-day trading on Thursday, reaching $34.89. The company had a trading volume of 884,227 shares, compared to its average volume of 1,340,171. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.20 and a quick ratio of 5.07. The company has a market capitalization of $6.41 billion, a P/E ratio of -59.13 and a beta of 0.13. Legend Biotech Corporation Sponsored ADR has a twelve month low of $27.34 and a twelve month high of $60.87. The company's 50-day moving average is $32.17 and its 200-day moving average is $34.34.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarterly revenue was up 107.8% on a year-over-year basis. During the same period last year, the firm posted ($0.16) EPS. On average, equities analysts anticipate that Legend Biotech Corporation Sponsored ADR will post -1.31 EPS for the current year.
Wall Street Analysts Forecast Growth
LEGN has been the subject of several analyst reports. HC Wainwright restated a "buy" rating and issued a $75.00 target price on shares of Legend Biotech in a report on Wednesday, April 16th. Truist Financial reduced 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. Cantor Fitzgerald reiterated an "overweight" rating and issued a $55.00 target price on shares of Legend Biotech in a research note on Wednesday, May 14th. Morgan Stanley dropped their target price on shares of Legend Biotech from $82.00 to $80.00 and set an "overweight" rating on the stock in a report on Monday, March 17th. Finally, Guggenheim reissued a "neutral" rating on shares of Legend Biotech in a research report on Wednesday, March 12th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $76.20.
Check Out Our Latest Stock Analysis on LEGN
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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