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Massachusetts Financial Services Co. MA Has $77.03 Million Stake in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN)

Legend Biotech logo with Medical background

Massachusetts Financial Services Co. MA raised its holdings in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 0.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,270,264 shares of the company's stock after purchasing an additional 6,708 shares during the period. Massachusetts Financial Services Co. MA owned about 1.24% of Legend Biotech worth $77,030,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LEGN. Bank of New York Mellon Corp increased its position in Legend Biotech by 12.5% in the fourth quarter. Bank of New York Mellon Corp now owns 131,416 shares of the company's stock worth $4,276,000 after buying an additional 14,588 shares during the period. HighTower Advisors LLC boosted its position in Legend Biotech by 75.2% during the 4th quarter. HighTower Advisors LLC now owns 10,079 shares of the company's stock worth $328,000 after acquiring an additional 4,325 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Legend Biotech by 12.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,324 shares of the company's stock worth $238,000 after acquiring an additional 835 shares during the period. Swiss National Bank raised its stake in shares of Legend Biotech by 1.1% during the 4th quarter. Swiss National Bank now owns 166,994 shares of the company's stock worth $5,434,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Legend Biotech by 1,052.7% during the 4th quarter. Signaturefd LLC now owns 1,729 shares of the company's stock worth $56,000 after purchasing an additional 1,579 shares in the last quarter. 70.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LEGN has been the topic of a number of recent analyst reports. UBS Group set a $54.00 price objective on Legend Biotech and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Johnson Rice reissued a "buy" rating on shares of Legend Biotech in a research note on Thursday. Truist Financial lowered their target price on Legend Biotech from $88.00 to $71.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. HC Wainwright reaffirmed a "buy" rating and issued a $75.00 target price on shares of Legend Biotech in a report on Thursday. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $84.00 target price on shares of Legend Biotech in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $73.33.

Read Our Latest Stock Report on LEGN

Legend Biotech Stock Performance

Shares of NASDAQ:LEGN traded down $0.54 during trading on Friday, hitting $41.59. 1,461,490 shares of the stock were exchanged, compared to its average volume of 1,371,946. Legend Biotech Corporation Sponsored ADR has a 1-year low of $27.34 and a 1-year high of $60.87. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of -70.49 and a beta of 0.19. The company's fifty day simple moving average is $33.81 and its 200-day simple moving average is $34.44. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.07 and a current ratio of 5.20.

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, topping the consensus estimate of ($0.40) by $0.33. Legend Biotech had a negative return on equity of 21.19% and a negative net margin of 29.95%. The company had revenue of $195.05 million for the quarter, compared to analyst estimates of $190.83 million. During the same quarter last year, the firm earned ($0.16) EPS. Legend Biotech's revenue for the quarter was up 107.8% compared to the same quarter last year. Sell-side analysts expect that Legend Biotech Corporation Sponsored ADR will post -1.31 EPS for the current fiscal year.

Legend Biotech Company Profile

(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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Institutional Ownership by Quarter for Legend Biotech (NASDAQ:LEGN)

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