Jump Financial LLC Acquires 52,262 Shares of Legend Biotech Corporation Sponsored ADR $LEGN

Jump Financial LLC boosted its holdings in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 109.0% during the 2nd quarter, Holdings Channel reports. The firm owned 100,203 shares of the company’s stock after buying an additional 52,262 shares during the period. Jump Financial LLC’s holdings in Legend Biotech were worth $3,556,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Tema Etfs LLC grew its holdings in Legend Biotech by 9.0% during the 2nd quarter. Tema Etfs LLC now owns 56,688 shares of the company’s stock valued at $2,012,000 after buying an additional 4,680 shares in the last quarter. First Trust Advisors LP purchased a new position in Legend Biotech during the second quarter valued at $411,000. Quantbot Technologies LP increased its holdings in Legend Biotech by 5.4% in the 2nd quarter. Quantbot Technologies LP now owns 17,615 shares of the company’s stock valued at $625,000 after acquiring an additional 906 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Legend Biotech by 100.4% in the 2nd quarter. New York State Common Retirement Fund now owns 118,774 shares of the company’s stock worth $4,215,000 after purchasing an additional 59,498 shares in the last quarter. Finally, Virtus Investment Advisers LLC boosted its holdings in shares of Legend Biotech by 15.9% during the 2nd quarter. Virtus Investment Advisers LLC now owns 11,722 shares of the company’s stock valued at $416,000 after purchasing an additional 1,606 shares during the last quarter. 70.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LEGN has been the topic of a number of research analyst reports. Cantor Fitzgerald boosted their target price on Legend Biotech from $66.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Johnson Rice set a $60.00 price objective on Legend Biotech in a report on Friday, October 17th. Royal Bank Of Canada reissued an “outperform” rating and issued a $74.00 target price on shares of Legend Biotech in a report on Monday. UBS Group decreased their price target on shares of Legend Biotech from $54.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Legend Biotech in a research note on Monday. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.50.

Legend Biotech Stock Down 2.2%

NASDAQ LEGN opened at $23.36 on Thursday. The company has a quick ratio of 2.80, a current ratio of 2.86 and a debt-to-equity ratio of 0.17. Legend Biotech Corporation Sponsored ADR has a 52 week low of $23.12 and a 52 week high of $45.30. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of -35.94 and a beta of 0.09. The company has a fifty day moving average of $30.36 and a two-hundred day moving average of $33.88.

Legend Biotech (NASDAQ:LEGN) last released its earnings results on Wednesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm had revenue of $272.33 million during the quarter, compared to analyst estimates of $277.91 million. Legend Biotech had a negative net margin of 26.37% and a negative return on equity of 24.47%. The business’s revenue was up 70.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.34) EPS. On average, analysts predict that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current year.

Legend Biotech Company 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).