OPTIMAS CAPITAL Ltd Takes $1.54 Million Position in Legend Biotech Corporation Sponsored ADR $LEGN

OPTIMAS CAPITAL Ltd acquired a new position in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 43,300 shares of the company’s stock, valued at approximately $1,537,000. Legend Biotech comprises about 1.6% of OPTIMAS CAPITAL Ltd’s holdings, making the stock its 18th largest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LEGN. Rhumbline Advisers boosted its stake in shares of Legend Biotech by 1.4% in the first quarter. Rhumbline Advisers now owns 28,029 shares of the company’s stock worth $951,000 after buying an additional 391 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Legend Biotech by 1.1% in 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 buying an additional 579 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Legend Biotech by 3.9% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 24,769 shares of the company’s stock valued at $840,000 after acquiring an additional 922 shares in the last quarter. Quarry LP purchased a new stake in Legend Biotech during the first quarter worth about $48,000. Finally, Brooklyn Investment Group lifted its position in shares of Legend Biotech by 1,114.8% during the first quarter. Brooklyn Investment Group now owns 1,725 shares of the company’s stock worth $59,000 after purchasing an additional 1,583 shares in the last quarter. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LEGN. Royal Bank Of Canada dropped their price objective on shares of Legend Biotech from $75.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. Morgan Stanley boosted their price target on shares of Legend Biotech from $81.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 12th. Johnson Rice set a $60.00 target price on Legend Biotech in a report on Friday, October 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Legend Biotech in a report on Monday. Finally, Barclays decreased their price objective on Legend Biotech from $94.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, November 13th. Ten 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.10.

Legend Biotech Stock Performance

Shares of LEGN opened at $27.50 on Thursday. The company’s 50 day simple moving average is $31.72 and its 200-day simple moving average is $34.07. Legend Biotech Corporation Sponsored ADR has a 12-month low of $25.71 and a 12-month high of $45.30. The firm has a market cap of $5.08 billion, a PE ratio of -42.31 and a beta of 0.17. The company has a current ratio of 2.86, a quick ratio of 2.80 and a debt-to-equity ratio of 0.17.

Legend Biotech (NASDAQ:LEGN) last announced its earnings results on Wednesday, November 12th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Legend Biotech had a negative net margin of 26.37% and a negative return on equity of 24.47%. The business had revenue of $272.33 million during the quarter, compared to analysts’ expectations of $277.91 million. During the same period in the prior year, the company earned ($0.34) earnings per share. The business’s revenue was up 70.0% compared to the same quarter last year. As a group, equities analysts predict that Legend Biotech Corporation Sponsored ADR will post -1.31 EPS 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).