Sei Investments Co. boosted its stake in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN – Free Report) by 215.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,921 shares of the company’s stock after purchasing an additional 221,899 shares during the quarter. Sei Investments Co. owned about 0.18% of Legend Biotech worth $5,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also added to or reduced their stakes in the company. Suvretta Capital Management LLC boosted its holdings in shares of Legend Biotech by 73.1% in the 4th quarter. Suvretta Capital Management LLC now owns 6,608,629 shares of the company’s stock valued at $143,672,000 after buying an additional 2,790,620 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Legend Biotech by 1.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 6,164,677 shares of the company’s stock worth $134,020,000 after acquiring an additional 70,191 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Legend Biotech by 120.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,174,535 shares of the company’s stock valued at $47,274,000 after acquiring an additional 1,188,449 shares during the last quarter. Alliancebernstein L.P. lifted its position in Legend Biotech by 4.6% during the third quarter. Alliancebernstein L.P. now owns 1,632,967 shares of the company’s stock valued at $53,251,000 after acquiring an additional 72,371 shares during the last quarter. Finally, State Street Corp boosted its stake in Legend Biotech by 31.0% in the fourth quarter. State Street Corp now owns 1,516,368 shares of the company’s stock valued at $32,966,000 after acquiring an additional 359,246 shares in the last quarter. 70.89% of the stock is currently owned by institutional investors.
Legend Biotech Stock Up 0.6%
LEGN stock opened at $19.13 on Wednesday. The stock has a market capitalization of $3.55 billion, a PE ratio of -28.13 and a beta of 0.37. Legend Biotech Corporation Sponsored ADR has a 52 week low of $16.24 and a 52 week high of $39.16. The firm has a 50 day moving average of $27.57 and a 200 day moving average of $23.21.
Analyst Upgrades and Downgrades
LEGN has been the topic of several analyst reports. Weiss Ratings raised shares of Legend Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 30th. UBS Group reiterated a “neutral” rating and set a $28.00 price objective (down from $49.00) on shares of Legend Biotech in a report on Monday, July 27th. TD Cowen raised their price objective on Legend Biotech to $29.00 and gave the stock a “hold” rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. initiated coverage on Legend Biotech in a research note on Monday, July 13th. They set a “neutral” rating and a $35.00 target price on the stock. Finally, Morgan Stanley reduced their target price on Legend Biotech from $49.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.29.
Read Our Latest Stock Report on Legend Biotech
Insider Activity
In related news, CEO Ying Huang sold 5,566 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $14.78, for a total value of $82,265.48. Following the transaction, the chief executive officer directly owned 241,872 shares of the company’s stock, valued at $3,574,868.16. This represents a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.02% of the stock is currently owned by insiders.
About Legend Biotech
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.
Featured Stories
- Five stocks we like better than Legend Biotech
- System Upgrade: First Internet Bancorp Options Surge
- AI Security Breaches Raise New Risks for Microsoft and Amazon’s Agent Push
- The AI Chip Blockade Is Creating a Shadow Market
- Grab Holdings Stock Forms Bottom After Strong Beat-and-Raise Quarter
Want to see what other hedge funds are holding LEGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN – Free Report).
Receive News & Ratings for Legend Biotech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Legend Biotech and related companies with MarketBeat.com's FREE daily email newsletter.
