SG Americas Securities LLC Increases Stock Holdings in Legend Biotech Corporation Sponsored ADR $LEGN

SG Americas Securities LLC increased its stake in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 6,774.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 371,728 shares of the company’s stock after purchasing an additional 366,321 shares during the quarter. SG Americas Securities LLC’s holdings in Legend Biotech were worth $8,081,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of LEGN. Advisors Asset Management Inc. grew its position in Legend Biotech by 19.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 23,720 shares of the company’s stock worth $842,000 after purchasing an additional 3,895 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Legend Biotech by 217.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 12,825 shares of the company’s stock worth $455,000 after buying an additional 8,787 shares in the last quarter. Korea Investment CORP lifted its holdings in Legend Biotech by 69.1% in the second quarter. Korea Investment CORP now owns 9,790 shares of the company’s stock valued at $347,000 after acquiring an additional 4,000 shares during the period. Hsbc Holdings PLC boosted its position in shares of Legend Biotech by 10.9% during the 2nd quarter. Hsbc Holdings PLC now owns 476,247 shares of the company’s stock worth $16,902,000 after purchasing an additional 46,658 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in Legend Biotech by 100.4% during the second quarter. New York State Common Retirement Fund now owns 118,774 shares of the company’s stock worth $4,215,000 after buying an additional 59,498 shares during the period. Institutional investors and hedge funds own 70.89% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. TD Cowen restated a “hold” rating and set a $21.00 target price (down from $62.00) on shares of Legend Biotech in a research report on Thursday, January 22nd. Rothschild & Co Redburn cut Legend Biotech from a “buy” rating to a “neutral” rating and set a $24.00 price target for the company. in a report on Thursday, February 12th. Royal Bank Of Canada decreased their price target on shares of Legend Biotech from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, March 11th. HC Wainwright lowered their price objective on shares of Legend Biotech from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Finally, UBS Group dropped their price target on Legend Biotech from $54.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, December 8th. Eleven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.31.

Legend Biotech Stock Performance

NASDAQ:LEGN opened at $17.31 on Tuesday. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of -21.64 and a beta of 0.07. Legend Biotech Corporation Sponsored ADR has a one year low of $16.24 and a one year high of $45.30. The business’s 50-day simple moving average is $18.33 and its 200 day simple moving average is $24.83.

Legend Biotech (NASDAQ:LEGN) last issued its quarterly earnings data on Wednesday, March 11th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.18. Legend Biotech had a negative return on equity of 21.93% and a negative net margin of 28.86%.The firm had revenue of $306.30 million during the quarter, compared to analyst estimates of $310.21 million. During the same quarter last year, the firm earned $0.07 EPS. Legend Biotech’s quarterly revenue was up 64.2% on a year-over-year basis. On average, equities research analysts predict that Legend Biotech Corporation Sponsored ADR will post -1.31 EPS for the current year.

Insider Buying and Selling at Legend Biotech

In other news, CEO Ying Huang sold 9,936 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 247,438 shares of the company’s stock, valued at approximately $2,170,031.26. This trade represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.02% of the company’s stock.

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.