210,100 Shares in Legend Biotech Corporation Sponsored ADR $LEGN Bought by National Bank of Canada FI

National Bank of Canada FI acquired a new position in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 210,100 shares of the company's stock, valued at approximately $7,129,000. National Bank of Canada FI owned 0.11% of Legend Biotech as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GF Fund Management CO. LTD. grew its stake in Legend Biotech by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 2,092 shares of the company's stock worth $71,000 after purchasing an additional 377 shares during the period. Rhumbline Advisers grew its stake in Legend Biotech by 1.4% during the first quarter. Rhumbline Advisers now owns 28,029 shares of the company's stock worth $951,000 after purchasing an additional 391 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Legend Biotech by 1.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 55,610 shares of the company's stock worth $1,887,000 after purchasing an additional 579 shares during the period. GAMMA Investing LLC grew its stake in Legend Biotech by 145.4% during the first quarter. GAMMA Investing LLC now owns 1,291 shares of the company's stock worth $44,000 after purchasing an additional 765 shares during the period. Finally, Shell Asset Management Co. grew its stake in Legend Biotech by 62.0% during the fourth quarter. Shell Asset Management Co. now owns 2,090 shares of the company's stock worth $68,000 after purchasing an additional 800 shares during the period. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Legend Biotech Stock Up 0.4%

Shares of LEGN stock traded up $0.16 during trading hours on Monday, reaching $37.66. The company had a trading volume of 313,279 shares, compared to its average volume of 1,474,053. Legend Biotech Corporation Sponsored ADR has a 12 month low of $27.34 and a 12 month high of $59.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.71 and a quick ratio of 4.57. The business has a fifty day simple moving average of $37.86 and a 200-day simple moving average of $35.17. The company has a market cap of $6.92 billion, a price-to-earnings ratio of -42.80 and a beta of 0.26.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.34) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.12). Legend Biotech had a negative net margin of 40.83% and a negative return on equity of 32.00%. The company had revenue of $255.06 million during the quarter, compared to the consensus estimate of $237.49 million. During the same quarter in the prior year, the business earned ($0.05) EPS. The firm's revenue for the quarter was up 36.8% compared to the same quarter last year. On average, research analysts expect that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Truist Financial decreased their target price on Legend Biotech from $88.00 to $71.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Morgan Stanley raised their price objective on Legend Biotech from $81.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, August 12th. 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, July 17th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $77.00 price objective (up previously from $75.00) on shares of Legend Biotech in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $72.38.

Legend Biotech Profile

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).