Legend Biotech Co. (NASDAQ:LEGN) Shares Sold by Krane Funds Advisors LLC

Krane Funds Advisors LLC reduced its stake in shares of Legend Biotech Co. (NASDAQ:LEGN) by 1.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 19,960 shares of the company’s stock after selling 203 shares during the period. Krane Funds Advisors LLC’s holdings in Legend Biotech were worth $884,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas grew its holdings in Legend Biotech by 23.2% during the fourth quarter. Teacher Retirement System of Texas now owns 14,601 shares of the company’s stock worth $879,000 after acquiring an additional 2,752 shares during the period. Boston Partners purchased a new position in shares of Legend Biotech during the 4th quarter valued at approximately $613,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Legend Biotech by 19.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 43,462 shares of the company’s stock valued at $2,518,000 after purchasing an additional 7,093 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Legend Biotech by 5.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 4,884 shares of the company’s stock worth $294,000 after buying an additional 253 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in Legend Biotech by 11.2% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 18,588 shares of the company’s stock valued at $1,118,000 after buying an additional 1,878 shares during the period. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Legend Biotech Stock Down 0.8 %

Shares of NASDAQ LEGN opened at $50.31 on Friday. The stock has a market cap of $9.17 billion, a PE ratio of -38.70 and a beta of 0.11. The company has a current ratio of 4.84, a quick ratio of 4.78 and a debt-to-equity ratio of 0.25. Legend Biotech Co. has a 12-month low of $38.60 and a 12-month high of $70.78. The company has a 50-day moving average of $55.05 and a 200 day moving average of $51.88.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings data on Friday, August 9th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.49. Legend Biotech had a negative return on equity of 23.20% and a negative net margin of 62.50%. The firm had revenue of $186.50 million for the quarter, compared to the consensus estimate of $125.25 million. During the same quarter last year, the business posted ($0.27) earnings per share. The firm’s revenue was up 154.4% compared to the same quarter last year. As a group, sell-side analysts predict that Legend Biotech Co. will post -1.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on LEGN shares. TD Cowen decreased their price objective on shares of Legend Biotech from $71.00 to $67.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Truist Financial assumed coverage on Legend Biotech in a research report on Monday, June 17th. They issued a “buy” rating and a $88.00 price objective for the company. BMO Capital Markets reiterated an “outperform” rating and set a $90.00 target price on shares of Legend Biotech in a research report on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Legend Biotech in a report on Thursday, May 23rd. They issued a “buy” rating and a $60.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $73.00 price objective on shares of Legend Biotech in a report on Wednesday, August 28th. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $81.78.

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).