Legend Biotech Corporation Sponsored ADR $LEGN Stock Holdings Lifted by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP raised its stake in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 1.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,164,677 shares of the company’s stock after acquiring an additional 70,191 shares during the period. Westfield Capital Management Co. LP’s holdings in Legend Biotech were worth $134,020,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC increased its holdings in shares of Legend Biotech by 6,774.9% in the fourth quarter. SG Americas Securities LLC now owns 371,728 shares of the company’s stock valued at $8,081,000 after buying an additional 366,321 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Legend Biotech by 20.1% in the third quarter. Artisan Partners Limited Partnership now owns 2,547,952 shares of the company’s stock valued at $83,089,000 after buying an additional 425,684 shares in the last quarter. Hudson Bay Capital Management LP increased its holdings in shares of Legend Biotech by 42.4% in the third quarter. Hudson Bay Capital Management LP now owns 220,000 shares of the company’s stock valued at $7,174,000 after buying an additional 65,500 shares in the last quarter. Triata Capital Ltd increased its holdings in shares of Legend Biotech by 50.5% in the third quarter. Triata Capital Ltd now owns 161,800 shares of the company’s stock valued at $5,276,000 after buying an additional 54,300 shares in the last quarter. Finally, Suvretta Capital Management LLC increased its holdings in shares of Legend Biotech by 1.2% in the third quarter. Suvretta Capital Management LLC now owns 3,818,009 shares of the company’s stock valued at $124,505,000 after buying an additional 44,000 shares in the last quarter. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Stock Down 4.9%

Legend Biotech stock opened at $34.20 on Friday. The company’s fifty day simple moving average is $24.39 and its 200-day simple moving average is $22.40. Legend Biotech Corporation Sponsored ADR has a 12 month low of $16.24 and a 12 month high of $45.30. The stock has a market cap of $6.35 billion, a P/E ratio of -50.29 and a beta of 0.35.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Legend Biotech had a negative net margin of 21.98% and a negative return on equity of 24.92%. The company had revenue of $305.10 million for the quarter, compared to analysts’ expectations of $306.51 million. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. The company’s revenue was up 56.5% on a year-over-year basis. On average, equities research analysts expect that Legend Biotech Corporation Sponsored ADR will post 0.03 earnings per share for the current fiscal year.

Insider Activity at Legend Biotech

In other news, CEO Ying Huang sold 9,936 shares of the business’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $8.77, for a total transaction of $87,138.72. Following the transaction, the chief executive officer directly owned 247,438 shares in the company, valued at $2,170,031.26. The trade was a 3.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on LEGN shares. Weiss Ratings downgraded shares of Legend Biotech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. Royal Bank Of Canada boosted their target price on shares of Legend Biotech from $62.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Truist Financial downgraded shares of Legend Biotech from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 20th. Rothschild & Co Redburn downgraded shares of Legend Biotech from a “buy” rating to a “neutral” rating and set a $24.00 target price on the stock. in a research note on Thursday, February 12th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Legend Biotech in a research note on Monday, February 23rd. Eleven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Legend Biotech has a consensus rating of “Moderate Buy” and an average price target of $60.23.

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.