Vontobel Holding Ltd. Makes New Investment in Legend Biotech Corporation Sponsored ADR $LEGN

Key Points

• Vontobel Holding Ltd. acquired a new position in Legend Biotech Corporation, purchasing 10,772 shares valued at approximately $382,000.
• Legend Biotech's latest earnings report shows a loss of $0.34 per share, missing analysts' expectations, although revenue increased by 36.8% year-over-year.
• Wall Street analysts generally hold a positive outlook, with a consensus rating of "Moderate Buy" and a price target of $69.25 for Legend Biotech shares.

Vontobel Holding Ltd. purchased a new position in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,772 shares of the company's stock, valued at approximately $382,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LEGN. Rhumbline Advisers boosted its holdings in 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 in the last quarter. GAMMA Investing LLC raised its stake in shares of Legend Biotech by 145.4% in 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 last quarter. Avior Wealth Management LLC raised its stake in shares of Legend Biotech by 45.9% in the first quarter. Avior Wealth Management LLC now owns 14,902 shares of the company's stock worth $506,000 after purchasing an additional 4,686 shares during the last quarter. Diversified Trust Co raised its stake in shares of Legend Biotech by 1.9% in the first quarter. Diversified Trust Co now owns 46,151 shares of the company's stock worth $1,566,000 after purchasing an additional 863 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Legend Biotech by 6,732.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,004,334 shares of the company's stock worth $34,077,000 after purchasing an additional 989,635 shares during the last quarter. Institutional investors own 70.89% of the company's stock.

Legend Biotech Stock Performance

Shares of LEGN opened at $33.23 on Wednesday. The company has a current ratio of 4.71, a quick ratio of 4.57 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of -37.76 and a beta of 0.23. The stock has a 50 day moving average of $34.45 and a 200 day moving average of $34.42. Legend Biotech Corporation Sponsored ADR has a 12 month low of $27.34 and a 12 month high of $51.77.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.34) EPS 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 business had revenue of $255.06 million for the quarter, compared to analysts' expectations of $237.49 million. During the same period in the previous year, the business posted ($0.05) earnings per share. The business's revenue was up 36.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

LEGN has been the subject of several analyst reports. Royal Bank Of Canada reissued an "outperform" rating and issued a $77.00 price objective (up from $75.00) on shares of Legend Biotech in a research note on Tuesday, August 12th. HC Wainwright reissued a "buy" rating and issued a $75.00 price objective on shares of Legend Biotech in a research note on Thursday, July 17th. JPMorgan Chase & Co. lowered their price objective on Legend Biotech from $78.00 to $76.00 and set an "overweight" rating for the company in a research note on Thursday, October 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Legend Biotech in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald initiated coverage on Legend Biotech in a research note on Tuesday, October 7th. They issued an "overweight" rating and a $40.00 price objective for the company. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.25.

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).

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