Legend Biotech Corporation Sponsored ADR $LEGN Shares Acquired by Brooklyn Investment Group

Brooklyn Investment Group increased its position in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 1,114.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,725 shares of the company’s stock after buying an additional 1,583 shares during the quarter. Brooklyn Investment Group’s holdings in Legend Biotech were worth $59,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. GF Fund Management CO. LTD. raised its position in Legend Biotech by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 2,092 shares of the company’s stock valued at $71,000 after buying an additional 377 shares during the period. Rhumbline Advisers increased its holdings in shares of Legend Biotech by 1.4% during the 1st quarter. Rhumbline Advisers now owns 28,029 shares of the company’s stock valued at $951,000 after acquiring an additional 391 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Legend Biotech by 1.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 55,610 shares of the company’s stock valued at $1,887,000 after acquiring an additional 579 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Legend Biotech by 145.4% during the 1st quarter. GAMMA Investing LLC now owns 1,291 shares of the company’s stock valued at $44,000 after acquiring an additional 765 shares during the last quarter. Finally, Shell Asset Management Co. boosted its stake in Legend Biotech by 62.0% during the 4th quarter. Shell Asset Management Co. now owns 2,090 shares of the company’s stock valued at $68,000 after purchasing an additional 800 shares during the period. 70.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LEGN has been the subject of several recent analyst reports. Cantor Fitzgerald upgraded Legend Biotech to a “strong-buy” rating in a research note on Monday, August 4th. HC Wainwright reissued a “buy” rating and issued a $75.00 target price on shares of Legend Biotech in a report on Thursday, July 17th. Morgan Stanley lifted their price objective on Legend Biotech from $81.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, August 12th. Royal Bank Of Canada reissued an “outperform” rating and issued a $77.00 target price (up from $75.00) on shares of Legend Biotech in a research note on Tuesday, August 12th. Finally, UBS Group set a $54.00 price objective on Legend Biotech and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $72.38.

Legend Biotech Price Performance

Legend Biotech stock opened at $35.56 on Friday. Legend Biotech Corporation Sponsored ADR has a 12 month low of $27.34 and a 12 month high of $59.62. The stock’s 50 day moving average is $37.80 and its 200-day moving average is $35.15. The company has a current ratio of 4.71, a quick ratio of 4.57 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of -40.41 and a beta of 0.26.

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

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).