Mirae Asset Global Investments Co. Ltd. increased its stake in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 6,732.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,004,334 shares of the company's stock after acquiring an additional 989,635 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.55% of Legend Biotech worth $34,077,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Legend Biotech by 145.4% during the first quarter. GAMMA Investing LLC now owns 1,291 shares of the company's stock valued at $44,000 after acquiring an additional 765 shares during the period. Signaturefd LLC lifted its holdings in shares of Legend Biotech by 1,052.7% in the fourth quarter. Signaturefd LLC now owns 1,729 shares of the company's stock valued at $56,000 after purchasing an additional 1,579 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Legend Biotech in the fourth quarter worth $56,000. Shell Asset Management Co. grew its holdings in shares of Legend Biotech by 62.0% during the fourth quarter. Shell Asset Management Co. now owns 2,090 shares of the company's stock valued at $68,000 after buying an additional 800 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new position in Legend Biotech during the fourth quarter valued at $77,000. 70.89% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on LEGN shares. UBS Group dropped their target price on Legend Biotech from $60.00 to $54.00 and set a "buy" rating on the stock in a report on Wednesday. Royal Bank Of Canada reissued an "outperform" rating and set a $84.00 price objective on shares of Legend Biotech in a research report on Tuesday, April 22nd. Guggenheim reaffirmed a "neutral" rating on shares of Legend Biotech in a research report on Wednesday, March 12th. HC Wainwright reiterated a "buy" rating and set a $75.00 price target on shares of Legend Biotech in a report on Wednesday, April 16th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $55.00 price target on shares of Legend Biotech in a research note on Wednesday, May 14th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.18.
Get Our Latest Stock Report on LEGN
Legend Biotech Price Performance
Shares of Legend Biotech stock traded down $0.34 during trading on Wednesday, reaching $35.95. The company's stock had a trading volume of 793,571 shares, compared to its average volume of 1,363,635. The stock has a 50-day moving average price of $32.48 and a two-hundred day moving average price of $33.96. The stock has a market capitalization of $6.61 billion, a P/E ratio of -61.02 and a beta of 0.19. 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 one year low of $27.34 and a one year high of $60.87.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) 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 firm had revenue of $195.05 million for the quarter, compared to the consensus estimate of $190.83 million. During the same quarter in the prior year, the business earned ($0.16) EPS. The business's revenue for the quarter was up 107.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Legend Biotech Corporation Sponsored ADR will post -1.31 EPS for the current fiscal year.
Legend Biotech Company Profile
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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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