Mitsubishi UFJ Asset Management Co. Ltd. Buys 19,141 Shares of Legend Biotech Corporation Sponsored ADR $LEGN

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 34.4% during the second quarter, HoldingsChannel.com reports. The fund owned 74,751 shares of the company’s stock after purchasing an additional 19,141 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Legend Biotech were worth $2,653,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of LEGN. Quarry LP bought a new position in shares of Legend Biotech during the 1st quarter valued at about $48,000. Brooklyn Investment Group lifted its position in shares of Legend Biotech by 1,114.8% in the first quarter. Brooklyn Investment Group now owns 1,725 shares of the company’s stock worth $59,000 after buying an additional 1,583 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of Legend Biotech by 913.0% in the second quarter. Hantz Financial Services Inc. now owns 2,097 shares of the company’s stock worth $74,000 after buying an additional 1,890 shares in the last quarter. Allostery Investments LP bought a new position in Legend Biotech during the first quarter valued at approximately $161,000. Finally, PNC Financial Services Group Inc. grew its holdings in Legend Biotech by 193.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,916 shares of the company’s stock valued at $167,000 after buying an additional 3,238 shares in the last quarter. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Analyst Ratings Changes

LEGN has been the topic of several recent research reports. Morgan Stanley upped their price objective on Legend Biotech from $81.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, August 12th. HC Wainwright reduced their price target on shares of Legend Biotech from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Legend Biotech in a research note on Wednesday, October 8th. Johnson Rice set a $60.00 price objective on shares of Legend Biotech in a research report on Friday, October 17th. Finally, Royal Bank Of Canada reduced their target price on shares of Legend Biotech from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.10.

Legend Biotech Stock Performance

NASDAQ:LEGN opened at $31.01 on Friday. The firm has a market capitalization of $5.72 billion, a PE ratio of -47.71 and a beta of 0.17. The stock’s fifty day moving average is $32.76 and its 200 day moving average is $34.35. Legend Biotech Corporation Sponsored ADR has a fifty-two week low of $27.34 and a fifty-two week high of $45.30. 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 posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. Legend Biotech had a negative net margin of 26.37% and a negative return on equity of 24.35%. The company had revenue of $272.33 million during the quarter, compared to analyst estimates of $277.91 million. During the same period in the previous year, the firm earned ($0.34) earnings per share. Legend Biotech’s quarterly revenue was up 70.0% compared to the same quarter last year. On average, sell-side analysts anticipate 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).