PNC Financial Services Group Inc. Buys 3,238 Shares of Legend Biotech Corporation Sponsored ADR $LEGN

PNC Financial Services Group Inc. increased its stake in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 193.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,916 shares of the company’s stock after purchasing an additional 3,238 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Legend Biotech were worth $167,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. 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 valued at $44,000 after acquiring an additional 765 shares during the period. GF Fund Management CO. LTD. bought a new stake in Legend Biotech in the fourth quarter worth about $56,000. Shell Asset Management Co. boosted its position 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 buying an additional 800 shares during the period. Tower Research Capital LLC TRC grew its stake 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 buying an additional 3,496 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new position in shares of Legend Biotech during the fourth quarter valued at approximately $247,000. 70.89% of the stock is currently owned by institutional investors.

Legend Biotech Stock Down 0.1%

Shares of Legend Biotech stock opened at $37.45 on Tuesday. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of -42.56 and a beta of 0.26. Legend Biotech Corporation Sponsored ADR has a 1 year low of $27.34 and a 1 year 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. The firm’s 50-day moving average is $37.92 and its two-hundred day moving average is $35.16.

Legend Biotech (NASDAQ:LEGN) 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). The firm 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%. The business’s revenue was up 36.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.05) EPS. As a group, research analysts expect that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on LEGN. Morgan Stanley boosted their price objective on Legend Biotech from $81.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, August 12th. UBS Group set a $54.00 target price on Legend Biotech and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Truist Financial cut their price target on shares of Legend Biotech from $88.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Cantor Fitzgerald raised shares of Legend Biotech to a “strong-buy” rating in a research note on Monday, August 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $75.00 price objective on shares of Legend Biotech in a research 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 given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $72.38.

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).