Triata Capital Ltd Has $5.49 Million Position in Legend Biotech Corporation Sponsored ADR $LEGN

Triata Capital Ltd raised its holdings in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 56.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 252,600 shares of the company’s stock after acquiring an additional 90,800 shares during the quarter. Legend Biotech comprises 0.7% of Triata Capital Ltd’s holdings, making the stock its 14th biggest holding. Triata Capital Ltd’s holdings in Legend Biotech were worth $5,492,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LEGN. Goldman Sachs Group Inc. increased its stake in Legend Biotech by 120.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,174,535 shares of the company’s stock valued at $47,274,000 after buying an additional 1,188,449 shares during the last quarter. Davern Capital Partners LP acquired a new stake in shares of Legend Biotech in the 4th quarter valued at approximately $22,972,000. Marshall Wace LLP boosted its holdings in shares of Legend Biotech by 4,129.8% in the 4th quarter. Marshall Wace LLP now owns 755,953 shares of the company’s stock valued at $16,434,000 after buying an additional 738,081 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Legend Biotech in the 2nd quarter valued at approximately $15,790,000. Finally, Artisan Partners Limited Partnership boosted its holdings in shares of Legend Biotech by 20.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,547,952 shares of the company’s stock valued at $83,089,000 after buying an additional 425,684 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial cut shares of Legend Biotech from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. HC Wainwright upped their target price on shares of Legend Biotech from $50.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Raymond James Financial reaffirmed an “outperform” rating on shares of Legend Biotech in a report on Monday, February 23rd. Jefferies Financial Group reiterated a “buy” rating and issued a $69.00 price target on shares of Legend Biotech in a research note on Tuesday, March 10th. Finally, TD Cowen upped their price target on shares of Legend Biotech to $29.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.23.

Legend Biotech Trading Down 5.9%

Shares of Legend Biotech stock opened at $33.38 on Wednesday. The company has a 50 day moving average of $26.97 and a 200-day moving average of $22.74. Legend Biotech Corporation Sponsored ADR has a 1-year low of $16.24 and a 1-year high of $45.30. The company has a market cap of $6.20 billion, a PE ratio of -49.09 and a beta of 0.35.

Legend Biotech (NASDAQ:LEGN) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Legend Biotech had a negative return on equity of 24.92% and a negative net margin of 21.98%.The firm had revenue of $305.10 million for the quarter, compared to the consensus estimate of $306.51 million. During the same period last year, the company posted ($0.07) EPS. The business’s revenue was up 56.5% on a year-over-year basis. Research analysts forecast that Legend Biotech Corporation Sponsored ADR will post 0.05 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Ying Huang sold 9,936 shares of the stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $8.77, for a total value of $87,138.72. Following the completion of the transaction, the chief executive officer owned 247,438 shares of the company’s stock, valued at $2,170,031.26. This represents a 3.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.02% of the stock is currently owned by insiders.

Legend Biotech Profile

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.