Matthews International Capital Management LLC Has $45.89 Million Holdings in Legend Biotech Corporation Sponsored ADR $LEGN

Matthews International Capital Management LLC raised its holdings in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 17.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,293,052 shares of the company’s stock after acquiring an additional 191,165 shares during the period. Legend Biotech makes up 10.6% of Matthews International Capital Management LLC’s holdings, making the stock its 3rd largest position. Matthews International Capital Management LLC owned 0.70% of Legend Biotech worth $45,890,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Legend Biotech by 145.4% in the 1st quarter. GAMMA Investing LLC now owns 1,291 shares of the company’s stock valued at $44,000 after buying an additional 765 shares in the last quarter. Quarry LP bought a new position in Legend Biotech during the 1st quarter worth about $48,000. Brooklyn Investment Group increased its holdings in Legend Biotech by 1,114.8% during the 1st quarter. Brooklyn Investment Group now owns 1,725 shares of the company’s stock worth $59,000 after purchasing an additional 1,583 shares in the last quarter. GF Fund Management CO. LTD. increased its holdings in Legend Biotech by 22.0% during the 1st 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 in the last quarter. Finally, Allostery Investments LP bought a new position in Legend Biotech during the 1st quarter worth about $161,000. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Trading Down 0.7%

Shares of NASDAQ:LEGN opened at $32.06 on Friday. 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 market capitalization of $5.92 billion, a P/E ratio of -36.43 and a beta of 0.23. The company has a 50-day simple moving average of $35.50 and a 200 day simple moving average of $34.63. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.57 and a current ratio of 4.71.

Legend Biotech (NASDAQ:LEGN) last issued its earnings results on Monday, August 11th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.12). The firm had revenue of $255.06 million during the quarter, compared to analyst estimates of $237.49 million. Legend Biotech had a negative net margin of 40.83% and a negative return on equity of 32.00%. The company’s revenue for the quarter was up 36.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) earnings per share. Sell-side analysts forecast that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

LEGN has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and set a $75.00 target price on shares of Legend Biotech in a report on Thursday, July 17th. Morgan Stanley increased their price objective on shares of Legend Biotech from $81.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 12th. Johnson Rice restated a “buy” rating on shares of Legend Biotech in a research note on Thursday, July 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Legend Biotech in a research note on Saturday, September 27th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Legend Biotech from $77.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, August 25th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $74.22.

Legend Biotech Company 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).