SG Americas Securities LLC Buys 108,509 Shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN)

SG Americas Securities LLC grew its position in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 661.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 124,926 shares of the company's stock after buying an additional 108,509 shares during the period. SG Americas Securities LLC owned 0.07% of Legend Biotech worth $4,239,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in Legend Biotech by 145.4% in the 1st quarter. GAMMA Investing LLC now owns 1,291 shares of the company's stock valued at $44,000 after buying an additional 765 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Legend Biotech by 513.8% during the first quarter. Harbor Capital Advisors Inc. now owns 39,537 shares of the company's stock worth $1,341,000 after acquiring an additional 33,096 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Legend Biotech by 1.4% in the first quarter. Rhumbline Advisers now owns 28,029 shares of the company's stock worth $951,000 after acquiring an additional 391 shares during the period. Wellington Management Group LLP grew its position in shares of Legend Biotech by 4.1% in the fourth quarter. Wellington Management Group LLP now owns 2,120,775 shares of the company's stock valued at $69,010,000 after purchasing an additional 84,405 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Legend Biotech during the 4th quarter valued at $914,000. Institutional investors own 70.89% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LEGN. Truist Financial reduced their target price on Legend Biotech from $88.00 to $71.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $84.00 target price on shares of Legend Biotech in a report on Tuesday, April 22nd. Guggenheim reiterated a "neutral" rating on shares of Legend Biotech in a research note on Wednesday, March 12th. HC Wainwright restated a "buy" rating and set a $75.00 price target on shares of Legend Biotech in a research report on Wednesday, April 16th. Finally, Morgan Stanley decreased their price target 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. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Legend Biotech currently has a consensus rating of "Moderate Buy" and an average price target of $76.20.

Legend Biotech Stock Performance

LEGN stock traded down $1.14 on Tuesday, hitting $34.70. The company had a trading volume of 1,641,100 shares, compared to its average volume of 1,339,313. 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 12-month low of $27.34 and a 12-month high of $60.87. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of -58.81 and a beta of 0.13. The stock's 50-day simple moving average is $32.11 and its 200 day simple moving average is $34.33.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued 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. The firm had revenue of $195.05 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.16) EPS. As a group, equities research analysts expect that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current fiscal year.

Legend Biotech Company 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).