ArrowMark Colorado Holdings LLC Has $30.61 Million Stock Holdings in Legend Biotech Corporation Sponsored ADR $LEGN

ArrowMark Colorado Holdings LLC lowered its holdings in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 4.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 938,678 shares of the company’s stock after selling 44,832 shares during the quarter. ArrowMark Colorado Holdings LLC owned 0.51% of Legend Biotech worth $30,610,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Clearstead Advisors LLC lifted its holdings in shares of Legend Biotech by 76.5% during the third quarter. Clearstead Advisors LLC now owns 847 shares of the company’s stock worth $28,000 after buying an additional 367 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Legend Biotech by 171.9% in the third quarter. Parallel Advisors LLC now owns 1,047 shares of the company’s stock worth $34,000 after acquiring an additional 662 shares during the last quarter. OFI Invest Asset Management grew its stake in shares of Legend Biotech by 102.6% in the third quarter. OFI Invest Asset Management now owns 1,228 shares of the company’s stock worth $40,000 after acquiring an additional 622 shares during the last quarter. Raymond James Financial Inc. bought a new position in Legend Biotech during the second quarter worth $78,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Legend Biotech during the third quarter worth $104,000. 70.89% of the stock is owned by institutional investors.

Legend Biotech Stock Performance

Shares of LEGN stock opened at $18.75 on Friday. The firm has a fifty day moving average of $19.37 and a 200-day moving average of $26.21. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of -23.44 and a beta of 0.07. Legend Biotech Corporation Sponsored ADR has a 52-week low of $16.24 and a 52-week high of $45.30.

Legend Biotech (NASDAQ:LEGN) last issued its earnings results on Tuesday, March 10th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.18. The business had revenue of $306.30 million for the quarter, compared to analyst estimates of $310.21 million. Legend Biotech had a negative net margin of 28.86% and a negative return on equity of 21.93%. The firm’s revenue was up 64.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.07 EPS. On average, sell-side analysts predict that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current year.

Analyst Ratings Changes

LEGN has been the subject of a number of research reports. Cantor Fitzgerald reduced their price target on shares of Legend Biotech from $75.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Rothschild & Co Redburn downgraded shares of Legend Biotech from a “buy” rating to a “neutral” rating and set a $24.00 price objective on the stock. in a report on Thursday, February 12th. Barclays reduced their target price on shares of Legend Biotech from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, February 4th. Oppenheimer initiated coverage on Legend Biotech in a research report on Wednesday, January 7th. They set an “outperform” rating and a $75.00 target price on the stock. Finally, Raymond James Financial restated an “outperform” rating on shares of Legend Biotech in a research note on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Legend Biotech currently has a consensus rating of “Moderate Buy” and an average price target of $58.31.

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.