Legend Biotech Corporation Sponsored ADR $LEGN Stock Holdings Boosted by Swiss National Bank

Swiss National Bank lifted its position in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 0.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 167,394 shares of the company’s stock after acquiring an additional 400 shares during the period. Swiss National Bank owned 0.09% of Legend Biotech worth $5,680,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in 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 period. GF Fund Management CO. LTD. acquired a new stake in Legend Biotech in the fourth quarter worth about $56,000. Shell Asset Management Co. lifted its holdings in Legend Biotech by 62.0% in the fourth quarter. Shell Asset Management Co. now owns 2,090 shares of the company’s stock worth $68,000 after purchasing an additional 800 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Legend Biotech by 355.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,480 shares of the company’s stock worth $146,000 after purchasing an additional 3,496 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Legend Biotech by 193.0% in the first quarter. PNC Financial Services Group Inc. now owns 4,916 shares of the company’s stock worth $167,000 after purchasing an additional 3,238 shares during the period. Institutional investors and hedge funds own 70.89% of the company’s stock.

Legend Biotech Trading Down 0.1%

NASDAQ:LEGN opened at $37.45 on Tuesday. The stock’s 50 day moving average price is $37.92 and its 200 day moving average price is $35.16. Legend Biotech Corporation Sponsored ADR has a 52 week low of $27.34 and a 52 week high of $59.62. The company has a market capitalization of $6.88 billion, a P/E ratio of -42.56 and a beta of 0.26. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.57 and a current ratio of 4.71.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate 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 company had revenue of $255.06 million for the quarter, compared to analyst estimates of $237.49 million. During the same quarter last year, the business earned ($0.05) EPS. The company’s revenue for the quarter was up 36.8% on a year-over-year basis. On average, research analysts forecast that Legend Biotech Corporation Sponsored ADR will post -1.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on LEGN shares. Truist Financial cut their price target on shares of Legend Biotech from $88.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, May 14th. UBS Group set a $54.00 price objective on shares of Legend Biotech and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $77.00 price objective (up from $75.00) on shares of Legend Biotech in a research note on Tuesday, August 12th. Morgan Stanley upped their price objective on shares of Legend Biotech from $81.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, August 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $75.00 target price on shares of Legend Biotech in a report on Thursday, July 17th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $72.38.

Legend Biotech Company 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).