Legend Biotech Corporation Sponsored ADR $LEGN Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc trimmed its position in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 30.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,300 shares of the company’s stock after selling 2,750 shares during the period. Ensign Peak Advisors Inc’s holdings in Legend Biotech were worth $224,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP acquired a new position in shares of Legend Biotech in the first quarter valued at approximately $48,000. Brooklyn Investment Group raised its holdings in Legend Biotech by 1,114.8% in the 1st quarter. Brooklyn Investment Group now owns 1,725 shares of the company’s stock valued at $59,000 after acquiring an additional 1,583 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Legend Biotech by 913.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,097 shares of the company’s stock worth $74,000 after purchasing an additional 1,890 shares during the period. Allostery Investments LP acquired a new stake in shares of Legend Biotech during the first quarter worth $161,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Legend Biotech by 193.0% in the first quarter. PNC Financial Services Group Inc. now owns 4,916 shares of the company’s stock valued at $167,000 after purchasing an additional 3,238 shares during the period. 70.89% of the stock is currently owned by hedge funds and other institutional investors.

Legend Biotech Trading Down 3.1%

Shares of LEGN stock opened at $26.84 on Tuesday. The company has a quick ratio of 2.80, a current ratio of 2.86 and a debt-to-equity ratio of 0.17. Legend Biotech Corporation Sponsored ADR has a fifty-two week low of $25.71 and a fifty-two week high of $45.30. The firm’s 50 day moving average price is $31.29 and its two-hundred day moving average price is $34.05. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of -41.29 and a beta of 0.09.

Legend Biotech (NASDAQ:LEGN) last issued its earnings results on Wednesday, November 12th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $272.33 million for the quarter, compared to the consensus estimate of $277.91 million. Legend Biotech had a negative net margin of 26.37% and a negative return on equity of 24.47%. The business’s revenue for the quarter was up 70.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.34) EPS. On average, analysts anticipate that Legend Biotech Corporation Sponsored ADR will post -1.31 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on LEGN. Morgan Stanley increased their target price on Legend Biotech from $81.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 12th. Royal Bank Of Canada cut their price objective on shares of Legend Biotech from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday, November 13th. HC Wainwright restated a “buy” rating on shares of Legend Biotech in a report on Wednesday, November 26th. Johnson Rice set a $60.00 price target on shares of Legend Biotech in a research note on Friday, October 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Legend Biotech in a research note on Monday, November 24th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.10.

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).