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

Triata Capital Ltd lifted its stake in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 56.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 252,600 shares of the company’s stock after acquiring an additional 90,800 shares during the quarter. Legend Biotech makes up 0.7% of Triata Capital Ltd’s portfolio, making the stock its 14th biggest holding. Triata Capital Ltd owned 0.14% of Legend Biotech worth $5,492,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Goldman Sachs Group Inc. increased its position in Legend Biotech by 120.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,174,535 shares of the company’s stock worth $47,274,000 after buying an additional 1,188,449 shares during the last quarter. Davern Capital Partners LP acquired a new position in Legend Biotech during the fourth quarter worth $22,972,000. Marshall Wace LLP increased its position in Legend Biotech by 4,129.8% during the fourth quarter. Marshall Wace LLP now owns 755,953 shares of the company’s stock worth $16,434,000 after buying an additional 738,081 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Legend Biotech during the second quarter worth $15,790,000. Finally, Artisan Partners Limited Partnership increased its position in Legend Biotech by 20.1% during the third quarter. Artisan Partners Limited Partnership now owns 2,547,952 shares of the company’s stock worth $83,089,000 after buying an additional 425,684 shares during the last quarter. 70.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LEGN has been the subject of a number of recent analyst reports. Royal Bank Of Canada upped their price target on shares of Legend Biotech from $62.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Morgan Stanley cut their price target on Legend Biotech from $49.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. UBS Group raised their price objective on shares of Legend Biotech from $31.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Jefferies Financial Group reissued a “buy” rating and issued a $69.00 target price on shares of Legend Biotech in a report on Tuesday, March 10th. Finally, TD Cowen increased their target price on Legend Biotech to $29.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. Eleven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.23.

Insider Buying and Selling at Legend Biotech

In other news, CEO Ying Huang sold 9,936 shares of Legend Biotech stock in a transaction 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 transaction, the chief executive officer directly owned 247,438 shares of the company’s stock, valued at $2,170,031.26. This trade represents a 3.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.02% of the stock is currently owned by corporate insiders.

Legend Biotech Stock Down 5.9%

Shares of LEGN opened at $33.38 on Wednesday. Legend Biotech Corporation Sponsored ADR has a 12-month low of $16.24 and a 12-month high of $45.30. The firm has a market capitalization of $6.20 billion, a PE ratio of -49.09 and a beta of 0.35. The stock’s fifty day simple moving average is $26.97 and its 200-day simple moving average is $22.74.

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

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.