Rhumbline Advisers Buys 391 Shares of Legend Biotech Corporation Sponsored ADR $LEGN

Rhumbline Advisers lifted its stake in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,029 shares of the company’s stock after buying an additional 391 shares during the period. Rhumbline Advisers’ holdings in Legend Biotech were worth $951,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in LEGN. Nuveen Asset Management LLC lifted its stake in shares of Legend Biotech by 5.4% in the fourth quarter. Nuveen Asset Management LLC now owns 110,586 shares of the company’s stock valued at $3,598,000 after buying an additional 5,700 shares during the period. Squarepoint Ops LLC raised its position in Legend Biotech by 44.2% in the fourth quarter. Squarepoint Ops LLC now owns 127,900 shares of the company’s stock worth $4,162,000 after purchasing an additional 39,197 shares in the last quarter. Woodline Partners LP raised its position in Legend Biotech by 10.0% in the fourth quarter. Woodline Partners LP now owns 120,304 shares of the company’s stock worth $3,915,000 after purchasing an additional 10,909 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Legend Biotech by 36.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 136,438 shares of the company’s stock worth $4,440,000 after purchasing an additional 36,181 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in Legend Biotech in the fourth quarter worth about $56,000. Institutional investors own 70.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $66.00 price objective on shares of Legend Biotech in a report on Wednesday, August 27th. Royal Bank Of Canada reissued an “outperform” rating and issued a $77.00 price target (up previously from $75.00) on shares of Legend Biotech in a report on Tuesday, August 12th. Johnson Rice reaffirmed a “buy” rating on shares of Legend Biotech in a research note on Thursday, July 17th. JPMorgan Chase & Co. raised their price objective on shares of Legend Biotech from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, August 25th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price objective 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 issued a Hold rating to the company. According to MarketBeat, Legend Biotech currently has an average rating of “Moderate Buy” and an average target price of $74.22.

Legend Biotech Stock Down 3.3%

Legend Biotech stock opened at $34.01 on Friday. Legend Biotech Corporation Sponsored ADR has a fifty-two week low of $27.34 and a fifty-two week high of $51.77. The firm has a market capitalization of $6.28 billion, a PE ratio of -38.65 and a beta of 0.28. The company’s 50-day moving average is $37.34 and its 200-day moving average is $34.88. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.71 and a quick ratio of 4.57.

Legend Biotech (NASDAQ:LEGN) last announced 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 company had revenue of $255.06 million during the quarter, compared to analyst estimates of $237.49 million. During the same quarter last year, the company posted ($0.05) EPS. The firm’s quarterly revenue was up 36.8% on a year-over-year basis. Sell-side analysts anticipate that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current year.

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).