New York State Common Retirement Fund Has $5.32 Million Position in Legend Biotech Corporation Sponsored ADR $LEGN

New York State Common Retirement Fund boosted its holdings in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 37.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 163,148 shares of the company’s stock after acquiring an additional 44,374 shares during the quarter. New York State Common Retirement Fund owned 0.09% of Legend Biotech worth $5,320,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LEGN. OFI Invest Asset Management boosted its holdings in Legend Biotech by 102.6% during the third quarter. OFI Invest Asset Management now owns 1,228 shares of the company’s stock valued at $40,000 after purchasing an additional 622 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Legend Biotech by 913.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,097 shares of the company’s stock worth $74,000 after buying an additional 1,890 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Legend Biotech during the 2nd quarter worth approximately $78,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Legend Biotech during the 2nd quarter worth approximately $219,000. Finally, DNB Asset Management AS acquired a new stake in Legend Biotech in the 2nd quarter valued at $241,000. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Stock Performance

Legend Biotech stock opened at $16.70 on Friday. The stock has a 50-day simple moving average of $22.01 and a 200 day simple moving average of $29.92. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of -25.69 and a beta of 0.10. 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 12-month low of $16.24 and a 12-month high of $45.30.

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

Wall Street Analyst Weigh In

LEGN has been the subject of several recent analyst reports. TD Cowen reiterated a “hold” rating and set a $21.00 price objective (down from $62.00) on shares of Legend Biotech in a research note on Thursday, January 22nd. HC Wainwright lowered their target price on shares of Legend Biotech from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Johnson Rice set a $60.00 price target on shares of Legend Biotech in a report on Friday, October 17th. Royal Bank Of Canada restated an “outperform” rating and issued a $66.00 price target on shares of Legend Biotech in a research report on Tuesday, January 20th. Finally, Cantor Fitzgerald decreased their price objective on shares of Legend Biotech from $75.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.67.

Legend Biotech Company Profile

Legend Biotech (NASDAQ: LEGN) is a commercial-stage biopharmaceutical company specializing in the development and commercialization of chimeric antigen receptor T-cell (CAR-T) therapies for oncology. Headquartered in Somerset, New Jersey, with research and development operations in Shanghai, the company leverages a global infrastructure to advance innovative cellular therapies. Legend Biotech pursues a strategy of strategic collaboration to extend its reach, most notably through its partnership with Janssen Biotech, a subsidiary of Johnson & Johnson.

The company’s lead asset, ciltacabtagene autoleucel (commercially marketed as Carvykti), is a B-cell maturation antigen (BCMA)–directed CAR-T therapy for the treatment of relapsed or refractory multiple myeloma.