GAMMA Investing LLC Has $30,000 Holdings in Legend Biotech Corporation Sponsored ADR $LEGN

GAMMA Investing LLC cut its holdings in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 34.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 845 shares of the company’s stock after selling 446 shares during the period. GAMMA Investing LLC’s holdings in Legend Biotech were worth $30,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of LEGN. GF Fund Management CO. LTD. lifted its position in Legend Biotech by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 2,092 shares of the company’s stock worth $71,000 after purchasing an additional 377 shares during the period. Rhumbline Advisers lifted its position in Legend Biotech by 1.4% during the first quarter. Rhumbline Advisers now owns 28,029 shares of the company’s stock worth $951,000 after purchasing an additional 391 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Legend Biotech by 1.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 55,610 shares of the company’s stock worth $1,887,000 after purchasing an additional 579 shares during the period. Diversified Trust Co lifted its position in Legend Biotech by 1.9% during the first quarter. Diversified Trust Co now owns 46,151 shares of the company’s stock worth $1,566,000 after purchasing an additional 863 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Legend Biotech by 3.9% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 24,769 shares of the company’s stock worth $840,000 after purchasing an additional 922 shares during the period. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Legend Biotech Stock Performance

Shares of LEGN stock opened at $32.06 on Monday. The company has a market cap of $5.92 billion, a price-to-earnings ratio of -36.43 and a beta of 0.23. Legend Biotech Corporation Sponsored ADR has a 52 week low of $27.34 and a 52 week high of $51.77. 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 firm has a 50 day moving average of $35.50 and a 200-day moving average of $34.58.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.12). The company 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 quarterly revenue was up 36.8% compared to the same quarter last year. During the same period last year, the business earned ($0.05) EPS. On average, equities analysts forecast that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. UBS Group set a $54.00 price objective on shares of Legend Biotech and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Johnson Rice reaffirmed a “buy” rating on shares of Legend Biotech in a research report on Thursday, July 17th. JPMorgan Chase & Co. upped their price objective on shares of Legend Biotech from $77.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Royal Bank Of Canada reissued an “outperform” rating and issued a $77.00 target price (up previously from $75.00) on shares of Legend Biotech in a report on Tuesday, August 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $75.00 target price on shares of Legend Biotech in a report on Thursday, July 17th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently 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).