Mutual of America Capital Management LLC Buys New Position in Legend Biotech Corporation Sponsored ADR $LEGN

Mutual of America Capital Management LLC bought a new position in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 82,516 shares of the company’s stock, valued at approximately $2,691,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of LEGN. OFI Invest Asset Management grew its stake in shares of Legend Biotech by 102.6% in the 3rd quarter. OFI Invest Asset Management now owns 1,228 shares of the company’s stock worth $40,000 after purchasing an additional 622 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in Legend Biotech by 913.0% during the second quarter. Hantz Financial Services Inc. now owns 2,097 shares of the company’s stock worth $74,000 after buying an additional 1,890 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Legend Biotech in the second quarter worth approximately $78,000. Vanguard Personalized Indexing Management LLC acquired a new position in Legend Biotech in the second quarter worth approximately $219,000. Finally, DNB Asset Management AS bought a new position in shares of Legend Biotech in the second quarter valued at $241,000. 70.89% of the stock is owned by institutional investors and hedge funds.

Legend Biotech Trading Down 1.2%

Shares of NASDAQ LEGN opened at $17.50 on Friday. 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 Corporation Sponsored ADR has a one year low of $17.03 and a one year high of $45.30. The business has a 50-day moving average price of $22.88 and a two-hundred day moving average price of $30.53. The firm has a market capitalization of $3.23 billion, a PE ratio of -26.92 and a beta of 0.12.

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

Wall Street Analyst Weigh In

LEGN has been the subject of several research reports. TD Cowen reissued a “hold” rating and set a $21.00 price objective (down from $62.00) on shares of Legend Biotech in a research note on Thursday, January 22nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $66.00 price target on shares of Legend Biotech in a research report on Tuesday, January 20th. UBS Group cut their price objective on Legend Biotech from $54.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, December 8th. HC Wainwright reduced 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, Weiss Ratings reissued a “sell (e+)” rating on shares of Legend Biotech in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Legend Biotech presently has a consensus rating of “Moderate Buy” and an average price target of $58.50.

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.