Tema Etfs LLC Acquires 40,646 Shares of Legend Biotech Corporation Sponsored ADR $LEGN

Key Points

• Tema Etfs LLC significantly increased its holdings in Legend Biotech by 357.7%, acquiring an additional 40,646 shares to own a total of 52,008 shares valued at approximately $1,765,000.
• Legend Biotech reported a quarterly EPS of ($0.34), missing expectations, but achieved a revenue of $255.06 million, exceeding the forecast of $237.49 million.
• Analysts have given Legend Biotech an average rating of "Moderate Buy" with a target price of $74.22, reflecting strong confidence from market experts.

Tema Etfs LLC lifted its stake in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 357.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 52,008 shares of the company's stock after buying an additional 40,646 shares during the quarter. Tema Etfs LLC's holdings in Legend Biotech were worth $1,765,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Trexquant Investment LP acquired a new stake in shares of Legend Biotech during the 1st quarter worth about $3,761,000. OMERS ADMINISTRATION Corp acquired a new stake in Legend Biotech in the 1st quarter worth about $1,371,000. Resolute Capital Asset Partners LLC acquired a new stake in Legend Biotech in the 1st quarter worth about $2,036,000. Greenwoods Asset Management Hong Kong Ltd. raised its stake in Legend Biotech by 36.3% in the 1st quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 90,109 shares of the company's stock worth $3,057,000 after purchasing an additional 24,000 shares in the last quarter. Finally, Groupama Asset Managment raised its stake in Legend Biotech by 6.8% in the 1st quarter. Groupama Asset Managment now owns 47,947 shares of the company's stock worth $1,681,000 after purchasing an additional 3,040 shares in the last quarter. Institutional investors and hedge funds own 70.89% of the company's stock.

Legend Biotech Price Performance

LEGN stock traded up $0.36 during trading on Monday, reaching $34.73. 881,286 shares of the company were exchanged, compared to its average volume of 993,702. The company has a 50-day moving average of $37.79 and a two-hundred day moving average of $35.09. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of -39.47 and a beta of 0.28. Legend Biotech Corporation Sponsored ADR has a twelve month low of $27.34 and a twelve 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.

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

Analyst Ratings Changes

LEGN has been the subject of several analyst reports. Morgan Stanley lifted their price objective on shares of Legend Biotech from $81.00 to $83.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 12th. Truist Financial dropped their target price on shares of Legend Biotech from $88.00 to $71.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. JPMorgan Chase & Co. boosted their target price on shares of Legend Biotech from $77.00 to $78.00 and gave the company an "overweight" rating in a research report on Monday, August 25th. UBS Group set a $54.00 target price on shares of Legend Biotech and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Johnson Rice restated a "buy" rating on shares of Legend Biotech in a research report on Thursday, July 17th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $74.22.

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).