Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) Shares Acquired by KBC Group NV

KBC Group NV lifted its position in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 105.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,048 shares of the company’s stock after purchasing an additional 13,904 shares during the period. KBC Group NV’s holdings in Legend Biotech were worth $918,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Legend Biotech by 6,732.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,004,334 shares of the company’s stock worth $34,077,000 after purchasing an additional 989,635 shares in the last quarter. Diversified Trust Co increased its stake in shares of Legend Biotech by 1.9% in the first quarter. Diversified Trust Co now owns 46,151 shares of the company’s stock worth $1,566,000 after buying an additional 863 shares during the last quarter. Avior Wealth Management LLC increased its stake in shares of Legend Biotech by 45.9% in the first quarter. Avior Wealth Management LLC now owns 14,902 shares of the company’s stock worth $506,000 after buying an additional 4,686 shares during the last quarter. ABS Direct Equity Fund LLC bought a new stake in shares of Legend Biotech in the first quarter worth $1,123,000. Finally, SG Americas Securities LLC increased its stake in shares of Legend Biotech by 661.0% in the first quarter. SG Americas Securities LLC now owns 124,926 shares of the company’s stock worth $4,239,000 after buying an additional 108,509 shares during the last quarter. 70.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LEGN shares. Guggenheim restated a “neutral” rating on shares of Legend Biotech in a research note on Wednesday, March 12th. HC Wainwright restated a “buy” rating and issued a $75.00 price target on shares of Legend Biotech in a research note on Wednesday, April 16th. Truist Financial dropped their price target on shares of Legend Biotech from $88.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, May 14th. Royal Bank Of Canada restated an “outperform” rating and issued a $84.00 price target on shares of Legend Biotech in a research note on Tuesday, April 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $55.00 price target on shares of Legend Biotech in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Legend Biotech currently has an average rating of “Moderate Buy” and a consensus price target of $72.60.

Legend Biotech Stock Down 1.6%

Legend Biotech stock opened at $35.35 on Friday. The company has a 50-day simple moving average of $32.56 and a 200-day simple moving average of $34.00. The firm has a market capitalization of $6.50 billion, a P/E ratio of -59.91 and a beta of 0.19. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.07 and a current ratio of 5.20. Legend Biotech Corporation Sponsored ADR has a one year low of $27.34 and a one year high of $60.87.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.33. The business had revenue of $195.05 million during the quarter, compared to analyst estimates of $190.83 million. Legend Biotech had a negative net margin of 29.95% and a negative return on equity of 21.19%. The company’s quarterly revenue was up 107.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. As a group, equities analysts expect that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current year.

Legend Biotech 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).