Wellington Management Group LLP Has $63.02 Million Stake in Legend Biotech Corporation Sponsored ADR $LEGN

Key Points

• Wellington Management Group LLP reduced its stake in Legend Biotech Corporation Sponsored ADR by 12.4%, owning approximately 1.01% of the company after selling 263,507 shares, valued at $63,017,000.
• Legend Biotech's stock recently saw a 0.1% increase, opening at $35.56, with a market capitalization of $6.53 billion and a price-to-earnings ratio of -40.41.
• The company's quarterly earnings report revealed a loss of ($0.34) EPS, missing analysts' expectations, despite a 36.8% year-over-year revenue increase to $255.06 million.

Wellington Management Group LLP trimmed its stake in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 12.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,857,268 shares of the company's stock after selling 263,507 shares during the period. Wellington Management Group LLP owned about 1.01% of Legend Biotech worth $63,017,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LEGN. GAMMA Investing LLC lifted 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 purchasing an additional 765 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Legend Biotech during the fourth quarter valued at $56,000. Brooklyn Investment Group lifted its holdings in shares of Legend Biotech by 1,114.8% during the first quarter. Brooklyn Investment Group now owns 1,725 shares of the company's stock valued at $59,000 after purchasing an additional 1,583 shares during the last quarter. Shell Asset Management Co. lifted its holdings in shares of Legend Biotech by 62.0% during the fourth quarter. Shell Asset Management Co. now owns 2,090 shares of the company's stock valued at $68,000 after purchasing an additional 800 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Legend Biotech by 355.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,480 shares of the company's stock valued at $146,000 after purchasing an additional 3,496 shares during the last quarter. 70.89% of the stock is owned by hedge funds and other institutional investors.

Legend Biotech Stock Down 0.7%

Shares of LEGN traded down $0.23 during midday trading on Thursday, reaching $34.49. 170,917 shares of the stock were exchanged, compared to its average volume of 1,449,137. Legend Biotech Corporation Sponsored ADR has a 12-month low of $27.34 and a 12-month high of $59.62. The firm has a 50 day simple moving average of $37.78 and a 200-day simple moving average of $35.11. The company has a quick ratio of 4.57, a current ratio of 4.71 and a debt-to-equity ratio of 0.30. The company has a market cap of $6.34 billion, a price-to-earnings ratio of -39.16 and a beta of 0.26.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last posted its quarterly 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 return on equity of 32.00% and a negative net margin of 40.83%.The firm had revenue of $255.06 million for the quarter, compared to analysts' expectations of $237.49 million. During the same period last year, the business earned ($0.05) earnings per share. The firm's revenue for the quarter was up 36.8% on a year-over-year basis. Research analysts forecast that Legend Biotech Corporation Sponsored ADR will post -1.31 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $66.00 target price on shares of Legend Biotech in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on Legend Biotech from $77.00 to $78.00 and gave the stock an "overweight" rating in a research note on Monday. UBS Group set a $54.00 price objective on Legend Biotech and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Truist Financial reduced their price objective 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. Finally, Johnson Rice reissued a "buy" rating on shares of Legend Biotech in a research note on Thursday, July 17th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Legend Biotech currently has an average rating of "Moderate Buy" and a consensus target price of $74.22.

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).