TD Asset Management Inc Has $3.20 Million Holdings in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN)

Key Points

• TD Asset Management Inc reduced its holdings in Legend Biotech by 12.8% in the first quarter, now owning 94,192 shares worth approximately $3.20 million.
• Institutional investors currently hold 70.89% of Legend Biotech's stock, with notable increases in stakes from firms like GAMMA Investing LLC and JPMorgan Chase & Co..
• Legend Biotech's stock has received multiple buy ratings from analysts, with a consensus price target of $73.33 following a recent quarterly earnings report that showed a year-over-year revenue increase of 107.8%.

TD Asset Management Inc reduced its stake in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 12.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,192 shares of the company's stock after selling 13,800 shares during the period. TD Asset Management Inc owned approximately 0.05% of Legend Biotech worth $3,196,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of LEGN. 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 buying an additional 765 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new position in Legend Biotech during the 4th quarter worth $914,000. JPMorgan Chase & Co. raised its position in shares of Legend Biotech by 176.0% during the fourth quarter. JPMorgan Chase & Co. now owns 998,016 shares of the company's stock valued at $32,475,000 after buying an additional 636,390 shares during the last quarter. First Trust Advisors LP increased its stake in Legend Biotech by 76.3% in the fourth quarter. First Trust Advisors LP now owns 20,669 shares of the company's stock valued at $673,000 after acquiring an additional 8,948 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Legend Biotech by 29.1% during the fourth quarter. Sei Investments Co. now owns 66,855 shares of the company's stock worth $2,175,000 after buying an additional 15,058 shares in the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Legend Biotech Price Performance

LEGN stock traded down $0.27 on Friday, reaching $38.80. 1,094,425 shares of the company's stock were exchanged, compared to its average volume of 1,427,930. The stock has a fifty day moving average of $36.34 and a 200-day moving average of $35.03. Legend Biotech Corporation Sponsored ADR has a twelve month low of $27.34 and a twelve month high of $59.62. The firm has a market cap of $7.13 billion, a PE ratio of -65.76 and a beta of 0.26. The company has a quick ratio of 5.07, a current ratio of 5.20 and a debt-to-equity ratio of 0.30.

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 (EPS) for the quarter, beating 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 business had revenue of $195.05 million for the quarter, compared to the consensus estimate of $190.83 million. During the same period in the prior year, the business earned ($0.16) earnings per share. The business's revenue was up 107.8% on a year-over-year basis. As a group, equities analysts predict that Legend Biotech Corporation Sponsored ADR will post -1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $55.00 price objective on shares of Legend Biotech in a research note on Wednesday, May 14th. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price objective (up previously from $80.00) on shares of Legend Biotech in a report on Thursday, July 10th. HC Wainwright reiterated a "buy" rating and set a $75.00 price objective on shares of Legend Biotech in a research report on Thursday, July 17th. Truist Financial reduced their price objective on shares of Legend Biotech from $88.00 to $71.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $84.00 price objective on shares of Legend Biotech in a report on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $73.33.

About Legend Biotech

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).