PNC Financial Services Group Inc. Sells 322 Shares of Legend Biotech Co. (NASDAQ:LEGN)

PNC Financial Services Group Inc. reduced its position in Legend Biotech Co. (NASDAQ:LEGNFree Report) by 23.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,026 shares of the company’s stock after selling 322 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Legend Biotech were worth $62,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Schonfeld Strategic Advisors LLC bought a new position in shares of Legend Biotech during the third quarter worth $974,000. TimesSquare Capital Management LLC boosted its position in shares of Legend Biotech by 0.5% during the third quarter. TimesSquare Capital Management LLC now owns 923,771 shares of the company’s stock worth $62,050,000 after acquiring an additional 4,779 shares during the last quarter. Graham Capital Management L.P. bought a new position in shares of Legend Biotech during the third quarter worth $716,000. Handelsinvest Investeringsforvaltning bought a new position in shares of Legend Biotech during the fourth quarter worth $404,000. Finally, SG Americas Securities LLC boosted its position in shares of Legend Biotech by 50.2% during the fourth quarter. SG Americas Securities LLC now owns 40,033 shares of the company’s stock worth $2,409,000 after acquiring an additional 13,381 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors.

Legend Biotech Trading Up 0.8 %

Shares of LEGN opened at $46.30 on Monday. Legend Biotech Co. has a twelve month low of $38.60 and a twelve month high of $77.32. The company has a market cap of $8.44 billion, a P/E ratio of -35.62 and a beta of 0.11. The company has a current ratio of 5.66, a quick ratio of 5.57 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $43.78 and its 200-day simple moving average is $53.16.

Legend Biotech (NASDAQ:LEGNGet Free Report) last posted its quarterly earnings results on Monday, May 13th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.13. Legend Biotech had a negative net margin of 135.92% and a negative return on equity of 27.91%. The firm had revenue of $93.90 million for the quarter, compared to analysts’ expectations of $143.24 million. During the same period in the prior year, the business posted ($0.40) earnings per share. The business’s revenue for the quarter was up 158.7% on a year-over-year basis. As a group, analysts expect that Legend Biotech Co. will post -1.93 EPS for the current year.

Analysts Set New Price Targets

LEGN has been the subject of a number of research reports. UBS Group upped their target price on shares of Legend Biotech from $76.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Scotiabank upgraded shares of Legend Biotech from a “sector perform” rating to a “sector outperform” rating and set a $65.00 target price for the company in a research report on Wednesday, April 17th. Piper Sandler reaffirmed an “overweight” rating and set a $90.00 price target on shares of Legend Biotech in a research note on Monday, June 17th. Truist Financial started coverage on shares of Legend Biotech in a research note on Monday, June 17th. They set a “buy” rating and a $88.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Legend Biotech in a research note on Thursday, May 23rd. They set a “buy” rating and a $60.00 price target on the stock. Fourteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $82.31.

View Our Latest Research Report on LEGN

Legend Biotech Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Legend Biotech (NASDAQ:LEGN)

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